News: CO1 First Cobalt proposes friendly merger with Cobalt One

June 21 (Reuters) - First Cobalt

• First Cobalt proposes friendly merger with cobalt one
• Under proposal, First Cobalt would acquire all of outstanding common shares of Cobalt One
• Deal would result in shareholders of Cobalt One holding about 60% of equity in merged entity
• Shareholders of First Cobalt would hold remaining 40% of equity in merged entity
• Proposal delivered suggests Cobalt One to maintain TSXV listing, seek to obtain secondary listing on ASX of chess depositary interests