First Cobalt Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - July 14, 2017) - First Cobalt Corp. (TSX VENTURE:FCC)(OTCQB:FTSSF) (the "Company") and Cobalt One Limited (ASX:CO1) ("Cobalt One") have entered into a binding agreement under which it is proposed that First Cobalt will acquire 100% of the share capital of Cobalt One via a Scheme of Arrangement (the "Arrangement"). The execution of this binding agreement follows the announcement of a non-binding agreement on June 26, 2017.