Thursday, March 15, 2018

First Cobalt Corp. - FCC.v

First Cobalt Corp. - FCC.v objective is to build the largest pure-play cobalt exploration and development company in the world. The Company’s primary focus is on its Greater Cobalt Project, located in the Cobalt Camp in Ontario, Canada. The Company began drilling in the Cobalt Camp in August, 2017.

On March 14, 2018 the company released News
First Cobalt Corp. and US Cobalt Inc. (TSX-V: USCO) are pleased to announce they have entered into a definitive agreement whereby First Cobalt will acquire all of the issued and outstanding shares of US Cobalt pursuant to a plan of arrangement, further enhancing First Cobalt’s position as a pure-play North American cobalt company.

Under the terms of the Arrangement Agreement, all of the US Cobalt issued and outstanding common shares will be exchanged on the basis of 1.5 First Cobalt common shares for each US Cobalt common share issued and outstanding (the “Exchange Ratio”). The Exchange Ratio represents a 61.8% premium to US Cobalt’s closing price and a 58.5% premium based on both companies’ 5-day volume-weighted average trading prices, both as at March 13, 2018.