Global Cobalt Corporation (TSXV:GCO) will spin out its North American Assets. The spinout transaction should also maximize shareholder value and future acquisition initiatives but also through their continued position in Global Cobalt and the interest in its project portfolio in Russia. In addition to allowing the company to continue to focus efforts on securing and developing Karakul, the company is confident that having a separately financed and managed mineral exploration business will accelerate the development of Werner Lake and Iron Creek, and give scope for new acquisitions in the energy metals sector.