April 5, 2018 / 2:46 AM / 5 months ago

BUZZ-Australia's Krakatoa Resources hits over 2-mth high on deal with Canadian firm

** Metals explorer Krakatoa Resources rises as much as 25 pct to A$0.05, highest since Jan 30

** Co enters into agreement with Canada-listed CBLT Inc to acquire two cobalt-silver blocks in Ontario

** Co to raise A$525,000 (about $404,618) by issuing 15 mln shares at $0.035 per share to fund the acquisition

** Stock, which was on trading halt since Tuesday pending the announcement, posts biggest intraday pct gain in six weeks

** Sees busiest trading session since Dec. 20, 2017, with about 1.9 mln shares changing hands, compared with the 30-day average of 106,941 shares ($1 = 1.2975 Australian dollars) (Reuters Messaging: shanima.a.thomsonreuters.com@reuters.net)

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