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NEWS: First Cobalt Announces Non-Brokered Flow-Through Private Placement Financing of $1.3 Million

First Cobalt Corp. (TSX VENTURE:FCC)(OTCQB:FTSSF) (the “Company”) is pleased to announce a non-brokered private placement financing (the “Offering”) of approximately 2,165,000 flow-through shares (“Flow-Through Share”) at a price of C$0.60 per Flow-Through Share for gross proceeds of about C$1,300,000.

All proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses as defined in the Income Tax Act (Canada) at the Company’s Keeley-Frontier Project, located in Ontario, Canada.

The Flow-Through Shares will be issued on a private placement basis in certain provinces of Canada, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

Closing of the Offering is expected to occur on or about May 26, 2017 and is subject to receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from their issue.

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