First Cobalt to Resume Trading on August 28
TORONTO, ONTARIO--(Marketwired - Aug. 24, 2017) - First Cobalt Corp. (TSX VENTURE:FCC)(OTC:FTSSF) (the
"Company") is pleased to announce that the TSX Venture Exchange has approved the resumption of trading in First Cobalt common
shares, and trading will resume at the market open on Monday, August 28.
The resumption of trading in the Company's shares is another step forward on the path to completion of First Cobalt's proposed
merger with Cobalt One Limited (ASX:CO1). The Company is on track to close this transaction, as well as the acquisition of
CobalTech Mining Inc (announced June 26, 2017) in the fourth quarter.
Under the terms of the transaction, Cobalt One shareholders will receive 0.145 of a First Cobalt common share for each Cobalt
One ordinary share. This exchange ratio implies a total transaction value of approximately $140 million on a fully diluted
in-the-money basis. Following completion of the transaction, it is intended that the Company's Board would be reconstituted
to include Cobalt One Chairman Paul Matysek, Cobalt One Executive Director Jason Bontempo and Robert Cross.
Completion of both transactions remains subject to a number of conditions, including approval by the shareholders of Cobalt
One and CobalTech, the listing of First Cobalt on the Australian Securities Exchange and receipt of all required regulatory
approvals, including final approval of the TSX Venture Exchange and the Australian Securities and Investments
Commission.
About First Cobalt
First Cobalt's objective is to create the largest pure-play cobalt exploration and development company in the world. The
Company's primary focus is on its Greater Cobalt Project; almost 3,000 hectares of prospective land in the Cobalt Camp in
Ontario, Canada, including an option for the former producing Keeley-Frontier mine, a high-grade mine that produced over 3.3
million pounds of cobalt and 19.1 million ounces of silver from 301,000 tonnes of ore, as well as a joint venture on a fully
permitted cobalt refinery in Cobalt, Ontario. The Company also has interests in prospective copper-cobalt properties in the
Democratic Republic of the Congo all with known surface mineralization.
On behalf of First Cobalt Corp.
Trent Mell, President & Chief Executive Officer
For more information visit www.firstcobalt.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking
statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates",
"believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might",
"occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual
results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that
could cause actual results to differ materially from these forward-looking statements include the reliability of the historical
data referenced in this press release and risks set out in First Cobalt's public documents, including in each management
discussion and analysis, filed on SEDAR at www.sedar.com. Although First
Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt
disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information,
future events or otherwise.