Cobalt Blockchain Announces Results of Annual General Meeting / Updates Private Placement

Toronto, December 21, 2020 - Cobalt Blockchain Inc. (TSXV: COBC) (OTC Pink: COBCF) ("COBC" or the "Company") is pleased to announce that shareholders overwhelmingly approved all items presented at its annual and special meeting of shareholders held on December 18, 2020. In addition to the approval of all annual business items, shareholders ratified the Company's recently adopted new general by-law and rolling 10% stock option plan and provided authorizations for a name change, a reduction in the minimum number of directors required by the Company's Articles and for the board of directors to appoint additional directors between shareholder meetings.

The COBC Board of Directors and Management would like to thank Patricia Mannard who served as a director for the past 16 years and has been with the Company since 1987 in senior management roles. Ms. Mannard served as Corporate Secretary and Treasurer prior to appointments as Chief Financial Officer, Chief Executive Officer and Chair to January 2018. Member of the board Mike Cachia says: "Her achievements are rooted in financial reporting, corporate governance and shareholder communication, and she was valued for her unending loyalty to the Company, its shareholders and the Canadian mining industry."

The Company also wishes to announce the appointment, subject to regulatory approval, of Ms. Monique Hutchins of DSA Corporate Services Inc. as Secretary of the Company.

The Company also reports that it has closed-off its previously announced private placement of equity units. The Company issued 40,100,000 units in two tranches of the private placement, raising gross proceeds of $2,005,000.

About Cobalt Blockchain Inc.
Cobalt Blockchain Inc. (TSXV: COBC) is a Canadian resource company expanding its exploration and development business to include cobalt assets in the Democratic Republic of the Congo ("DRC"); it holds export trading licenses for 3T, copper and cobalt from the DRC. The Company believes that it is the first mining and mineral trade company set up specifically to procure cobalt in compliance with the Organisation for Economic Co-operation and Development ("OECD") due diligence framework. COBC has developed and is implementing a blockchain-based reporting platform to provide greater certainty of provenance and further assurance that all minerals procured are ethically-sourced. Senior management have over twelve years of experience working in the DRC and a proven international track record in exploration success and the trading of certified conflict-free, child-labour-free minerals.

For more information on the Company, investors should review the Company's filings at www.sedar.com.

For additional information, please contact:

Peter Copetti, Executive Chairman and CEO
Cobalt Blockchain Inc.
Telephone: +1-416-519-4009
Email: info@cobc.co
Website: www.cobc.co

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