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
