Cobalt Power Group Announces the Appointment of New President and CEO

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRES./

TSX.V: CPO, Pink Sheets: CBBWF

TORONTO, May 2, 2018 /CNW/ - Cobalt Power Group Inc. ("Cobalt Power" or the "Company") (TSX.V: CPO, OTC Pink: CBBWF) is pleased to announce the appointment of Mr. Greig Hutton, P. Eng., MSc (Geology) as President and CEO. 

Mr. Hutton has over 20 years of experience in mining and business development, and has worked as a mining analyst with a focus on energy metals, including cobalt.  He has worked for a number of resource companies including McIntyre Porcupine (Timmins, ON), Inco (Thompson, MB) and Syncrude (Ft. McMurray, AB).  Mr. Hutton has a Masters of Science in Geology from the University of Western Ontario.

Mr. Hutton has served as a director of numerous companies including Continuum Resources Ltd., Arco Resources Corp. and Atomic Minerals Ltd.

Mr. Hutton will be replacing Dr. Andreas Rompel following his resignation as CEO, President and Director.  The board of directors wish to thank Dr. Andreas for his service in advancing the Company's cobalt projects.

"Greig has a wide range of management skills and also strong board experience which will help guide the company through the next stage of exploration and development in the Cobalt, Ontario region," stated Chris Healey, VP Exploration, Director. "The next phase of exploration and development will benefit greatly from Greig's extensive mining background."

About Cobalt Power Group Inc.

Cobalt Power Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange and U.S. Pink Sheets (TSX-V: CPO, OTC Pink: CBBWF) focused on cobalt exploration and development. The Company has made a series of strategic property acquisitions over the past two years seeking cobalt mineralization near Cobalt, Ontario, a region with a long history of silver and associated cobalt production. Property holdings total approximately 8,736 hectares (21,600 acres) in contiguous and strategic claim blocks. There are several historic mining operations on the properties that are potentially accessible, including the Smith Cobalt shaft and its underground workings.

The TSX Venture Exchange Inc. nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of the release and has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

We seek safe harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for "forward-looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statement on Forward-Looking Statement

Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

In connection with the forward-looking information contained in this news release, CPO has made numerous assumptions. While CPO considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause CPO's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.

A more complete discussion of the risks and uncertainties facing CPO is disclosed in CPO's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and CPO disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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SOURCE Cobalt Power Group Inc.