Cobaltech Mining Inc. (fka BNCIF)

[DJknows]

First Cobalt Completes Merger with CobalTech

TORONTO, Dec. 01, 2017 (GLOBE NEWSWIRE) -- First Cobalt Corp. (TSX-V:FCC) (ASX:FCC) (OTCQB:FTSSF) (the “Company”) is pleased to announce completion of the previously announced merger with CobalTech Mining Inc. by way of plan of arrangement. Pursuant to the arrangement, CobalTech shareholders will receive 0.2632 of a common share of First Cobalt for each CobalTech share held and CobalTech will become a wholly-owned subsidiary of First Cobalt. All outstanding share purchase warrants of CobalTech have also been exchanged, on substantially the same terms, taking into account the above exchange ratio.

The arrangement was approved by the Supreme Court of British Columbia in its final order issued on November 24, 2017 and remains subject to final approval of the TSX Venture Exchange. Trading of shares of CobalTech will be halted until the shares are delisted from the TSX Venture Exchange at close of December 4th.

Additional information regarding the terms of the arrangement is set out in CobalTech’s management information circular dated October 10, 2017, which is available under CobalTech’s profile on SEDAR.