TORONTO, March 14, 2018 /CNW/ - First Cobalt Corp. (TSX-V: FCC,...

TORONTO, March 14, 2018 /CNW/ - First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) ("First Cobalt") and US Cobalt Inc. (TSX-V: USCO, OTCQB: USCFF) ("US Cobalt") are pleased to announce they have entered into a definitive agreement (the "Arrangement Agreement") whereby First Cobalt will acquire all of the issued and outstanding shares of US Cobalt pursuant to a plan of arrangement (the "Transaction"), further enhancing First Cobalt's position as a pure-play North American cobalt company.

Benefits to US Cobalt Shareholders

• Immediate and significant premium of approximately 61.8% based on the prior day closing price, and 58.5% based on the 5-day VWAPs of both companies.

Upon completion of the Transaction, existing First Cobalt and US Cobalt shareholders will own approximately 62.5% and 37.5% of the combined company respectively.

Acquisition of US Cobalt

Financial Times

US Cobalt

Gw