Cobalt exploration and development company First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF) was this morning included in a news release issued by US Cobalt Inc. (TSX.V: USCO) (OTCQB: USCFF) detailing results from the final four surface core holes drilled during 2017 at the Iron Creek project in Idaho. The two companies announced a friendly merger on March 14, 2018, which remains subject to regulatory approval. If approved, the transaction is expected to position First Cobalt as a leading non-DRC cobalt company with three significant North American assets: the Canadian Cobalt Camp, with more than 50 past producing mines; the Iron Creek Project in Idaho, which has a historic mineral resource estimate of 1.3 million tons grading 0.59 percent cobalt; and the only permitted cobalt refinery in North America capable of producing battery materials. “We are excited to have set the May 17th shareholder meeting date pursuant to our previously announced transaction with First Cobalt Corp.,” Wayne Tisdale, president and CEO of US Cobalt, stated in the news release. “Management fully supports this transaction which is intended to strengthen and de-risk both company’s assets by strategically positioning the combined entity as a leading vertically integrated, non-DRC cobalt company.”
To view the full press release, visit http://nnw.fm/b7Ucs
About First Cobalt Corp.
First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. First Cobalt controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials. First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. For more information, visit the company’s website at www.FirstCobalt.com
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