Cobalt One to Merge with First Cobalt

TORONTO, ONTARIO--(Marketwired - June 26, 2017) - First Cobalt Corp. ("First Cobalt") (TSX VENTURE:FCC)(OTCQB:FTSSF) and Cobalt One Limited ("Cobalt One") (ASX:CO1) are pleased to announce that following the non-binding, conditional proposal by First Cobalt to acquire 100% of the shares in Cobalt One, as announced by First Cobalt on the TSX Venture Exchange ("TSXV") dated June 21, 2017, both parties subsequently signed a letter of intent on June 23, 2017, pursuant to which First Cobalt intends to acquire all of the issued and outstanding common shares of Cobalt One by way of a court approved scheme of arrangement (the "Arrangement").