First Cobalt Announces Annual Meeting Results

TORONTO, Aug. 26, 2020 - First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) (the "Company") is pleased to announce the results from its Annual and Special Meeting of Shareholders held yesterday.

Detailed results of the vote for the election of directors are set out below.

All other resolutions provided for in the management information circular were also approved.

In connection with the recent appointment of a Vice President, Project Development, the Company has issued 250,000 Restricted Share Units (RSUs) and options granting the rights to purchase 500,000 common shares of First Cobalt exercisable at yesterday's closing price of $0.145 for a period of five years. The RSUs and options will both vest over a two-year period. The grants of long-term incentives remain subject to the approval of the TSX Venture Exchange.

About First Cobalt

First Cobalt owns North America's only permitted cobalt refinery. Cobalt refining is a critical component in the development and manufacturing of batteries for electric vehicles and forms a foundational piece of the next generation of the North American auto sector and other electrified consumer and industrial applications. First Cobalt also owns a cobalt project in the United States and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past producing mines.

On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE First Cobalt Corp.