March 14, 2018 / 10:38 AM / in 3 months

BRIEF-First Cobalt Announces Friendly Acquisition Of U.S. Cobalt

* FIRST COBALT ANNOUNCES FRIENDLY ACQUISITION OF US COBALT

* FIRST COBALT CORP - DEAL IMPLIES ‍TOTAL EQUITY VALUE OF APPROXIMATELY $149.9 MILLION ON A FULLY-DILUTED IN-THE-MONEY BASIS​

* FIRST COBALT - AGREED TO APPOINT A US COBALT NOMINEE TO ITS BOARD EFFECTIVE AT CLOSING OF TRANSACTION

* FIRST COBALT CORP - ‍UPON DEAL COMPLETION , EXISTING FIRST COBALT AND US COBALT SHAREHOLDERS TO OWN ABOUT 62.5% AND 37.5% OF COMBINED CO

* FIRST COBALT CORP - ‍ARRANGEMENT AGREEMENT HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF FIRST COBALT AND US COBALT​

* FIRST COBALT CORP - ‍BOARD OF DIRECTORS OF US COBALT RECOMMENDS THAT ITS SHAREHOLDERS VOTE IN FAVOUR OF TRANSACTION​ Source text for Eikon: Further company coverage:

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