First Cobalt Proposes Friendly Merger with Cobalt One

TORONTO, ONTARIO--(Marketwired - June 21, 2017) - First Cobalt Corp. (TSX VENTURE:FCC)(OTCQB:FTSSF) (the "Company") is pleased to announce it has delivered a proposal to Cobalt One Ltd., which is listed on the Australian Securities Exchange, for the merger of Cobalt One and First Cobalt. Under the proposal, First Cobalt would acquire all of the outstanding common shares of Cobalt One which would result in the shareholders of Cobalt One holding approximately 60% of the equity in the merged entity and the shareholders of First Cobalt holding the remaining 40%.