eCobalt Provides the Results of Annual General and Special Meeting

VANCOUVER, June 29, 2017 /CNW/ - eCobalt Solutions Inc. (TSX: ECS; OTCQB: ECSIF) (the "Company" or "eCobalt") is pleased to report the results of our Annual General and Special Meeting (AGM), held Wednesday, June 28, 2017 in Vancouver, BC.

A total of 40,799,002 common shares of the 129,831,656 common shares outstanding were voted, representing 31.42% of the issued and outstanding common shares of eCobalt. Shareholders voted in favour of all items of business before the meeting, including the election of all directors as follows:

eCobalt would like to announce the addition of David Smith to our Board. Mr. Smith is the Senior Vice-President, Finance and Chief Financial Officer of Agnico Eagle Mines Ltd. and has held this position since 2012. Previously he held the position of Senior Vice-President, Strategic Planning and Investor Relations. Prior to joining Agnico's investor relations team in 2005, Mr. Smith was a mining analyst and also held a variety of mining engineering positions, in both Canada and abroad. Mr. Smith is a Chartered Director, a former member of the Board of Directors of the Denver Gold Group and an alternate Director of the World Gold Council. He has a B.Sc. and M.Sc. in Mining Engineering from Queen's University in Kingston and the University of Arizona, respectively. Mr. Smith is also a Professional Engineer.

"We are very honoured to have Mr. Smith join our Board. His technical expertise and operational experience will greatly enhance the strategic direction of our company. We look forward to working with David as we advance our project to production" stated Mr. Paul Farquharson, President & CEO.

Chairman of the Board, Robert J. Quinn and Director, Dr. David Stone both made the decision to retire from the Board at this year's AGM. The Board of Directors would like to thank Mr. Bob Quinn and Dr. David Stone for their dedication and valued contribution to the Company.

Mr. Paul Farquharson, President & CEO added "On behalf of the Board and management we wish to thank both Mr. Quinn and Dr. Stone for their unwavering commitment and loyalty over the years.  Bob joined the Board in 1999 and as an attorney, provided the Board and management with solid advice throughout his term as Director and Chairman of the Board.  Dr. Stone joined the Company in 2002.  His technical experience as a mine backfill expert proved critical in the initial design phases of the Idaho Cobalt Project and he will continue to provide valuable technical advice to the Company throughout the coming years.  We wish them both the best in their future endeavours." 

Other resolutions passed at the meeting were (1) the re-appointment of Smythe LLP, Chartered Accountants, as the auditors of the Company; and (2) ratification and approval of all unallocated options, rights or other entitlements under the Company's Stock Option Plan.

Detailed voting results for the 2017 meeting are available on SEDAR at www.sedar.com.

At the Board of Directors meeting following the AGM the following officers were appointed:

The Company recently commissioned and completed an independent compensation review that benchmarked the Company's compensation policies against its peer group.  The results of this independent review and recommendations were recently adopted by the Board of Directors and are effective immediately.  In addition, the Company has also adopted equity ownership guidelines encouraging executive management and directors to hold a minimum level of share ownership based on their annual cash salaries or retainers.  These goals are encouraged to be met within three years from the time of service commencement.

About eCobalt Solutions Inc. (www.ecobalt.com)

eCobalt Solutions is a well-established Toronto Stock Exchange listed company committed to providing ethically produced, environmentally sound, battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. eCobalt's primary asset, the 100% owned Idaho Cobalt Project, remains the only advanced stage, near term, environmentally permitted, primary cobalt deposit in the United States.

eCobalt Solutions Inc.

"J. Paul Farquharson"
J. Paul Farquharson
President & CEO

Cautionary Statement on Forward Looking Statements

Cautionary Statement on Forward Looking Statements This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Statements in this news release pertaining to expected financings, filings, uses of proceeds or project completion dates are forward-looking statements. These forward-looking statements are based on assumptions and address future events and conditions and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements.

Such projections are and will inevitably always be dependent on assumptions about future mineral prices and development costs which will be subject to fluctuation due to global and local economic and industry conditions. Further information regarding risks and uncertainties which may cause results to differ from those contained in forward-looking statements is included in filings by the Company with securities regulatory authorities and is available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Although the Company has disclosed that the Idaho Cobalt Project remains the sole, near term, environmentally permitted, primary cobalt deposit in the United States and offers a unique potential for North American consumers to secure an ethically sourced, environmentally sound supply of battery grade cobalt chemicals, there is no guarantee that the Company will attain commercial production of such cobalt chemicals for use in the rechargeable battery sector. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

The statements contained in this news release in regard to eCobalt Solutions Inc. that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including eCobalt Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to eCobalt Solutions Inc. as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.

SOURCE eCobalt Solutions Inc.