Cobalt 27 Announces Upsize to Previously Announced Strategic Private Placement Offering to $185 million

Proceeds to be used in the acquisition of cobalt streams and royalties

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TORONTO, March 06, 2018 (GLOBE NEWSWIRE) -- Cobalt 27 Capital Corp. ("Cobalt 27" or the "Company") (TSXV:KBLT) (FRA:27O) announced today that the Company has upsized its previously announced strategic private placement of common shares of the Company ("Common Shares") with a group of investors. Under the upsized terms, the Company will issue up to 16.2 million Common Shares at a price of $11.40 per Common Share for aggregate gross proceeds to the Company of up to $185 million (the "Offering"). The Offering is being conducted by a syndicate of agents co-led by Credit Suisse Securities (USA) LLC and TD Securities Inc., and including Numis Securities Limited. The Common Shares to be issued under the Offering will not be qualified by a prospectus, and accordingly the Common Shares will be subject to customary restrictions on transfer required pursuant to applicable securities laws (including a customary four month hold period in Canada).

The net proceeds of the Offering will be used by the Company to fund the acquisition of cobalt-related streams and royalties and general corporate purposes. Completion of the Offering is subject to a number of conditions, including, without limitation, the finalization of definitive subscription documentation and receipt of all regulatory approvals before closing, including the conditional approval of the TSX Venture Exchange. The Offering is expected to close on or about March 9, 2018.

The offer and sale of the Common Shares is being conducted in the United States by way of a private placement in reliance on Section 4(a)(2) of the U.S. Securities Act of 1933, as amended, and in Canada and other jurisdictions by way of private placement under applicable accredited investor exemptions. The Common Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities herein described, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.