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FCC - graph is primed for a rise . Announcement out today .
First Cobalt Announces Investment in eCobalt SharesTORONTO, ON — (May 1, 2019) – First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQX: FTSSF)(the “Company”) announces it has acquired, by way of a private share purchase agreement,a total of 9,640,500 common shares (“Common Shares”) of eCobalt Solutions Inc. (“eCobalt”)(TSX:ECS), representing approximately 6% of the issued and outstanding Common Shares,at a price of C$0.375 per Common Share. The acquisition represents First Cobalt’s entireinterest in eCobalt.The Common Shares were acquired for investment purposes and First Cobalt may in futureacquire or sell eCobalt shares without further announcement, subject to applicableregulations. In connection with the private share purchase agreement, the Company intendsto issue 21,265,809 common shares of First Cobalt at C$0.17. All Common Shares issued willbe subject to a statutory four month and one day hold period and are subject to all necessaryregulatory and stock exchange approvals.About First Cobalt1First Cobalt is a Canadian-based pure-play cobalt company and owner of the only permittedprimary cobalt refinery in North America. The Company is exploring a restart of the FirstCobalt Refinery in Ontario, Canada, which could produce 2,000 tonnes of cobalt sulfate ormetallic cobalt per year. First Cobalt’s main cobalt project is the Iron Creek Cobalt Project inIdaho, USA, which has Inferred mineral resources of 26.9 million tonnes grading 0.11% cobaltequivalent, or an alternative underground-only scenario of 4.4 million tonnes grading 0.3%cobalt equivalent.On behalf of First Cobalt Corp.Trent MellPresident & Chief Executive Officer