Canadian Mining Journal

News

M&A: Cobalt One Overwhelmingly Approves Merger with First Cobalt



TORONTO – First Cobalt Corp. is pleased to announce Cobalt One Ltd. shareholders have approved the merger with First Cobalt, with 99.995% of votes cast in favour.

Trent Mell, President & Chief Executive Officer, commented:

“We are one step closer to creating the largest pure play cobalt company in the world. We look forward to seeing First Cobalt shares trade on the ASX, as this dual listing will bring a much larger shareholder base and added liquidity.”

Australian court approval for the merger has been granted and trading of Cobalt One shares on the ASX is expected to halt as of November 21, 2017, pending the close of the transaction. First Cobalt is expected to trade on the ASX under the ticker FCC on a deferred settlement basis effective November 22, 2017, subject to regulatory approval.

Cobalt One and First Cobalt are combining a complimentary portfolio of high quality exploration assets in the Cobalt Camp in Canada. The combined company also owns the only permitted cobalt refinery in North America designed to produce battery materials.

On completion of the merger, First Cobalt’s Board will be reconstituted to include First Cobalt founder Bob Cross, Cobalt One chairman Paul Matysek and Cobalt One Executive Director Jason Bontempo.