Cobalt Blockchain Completes Debt Settlement

Toronto, March 2, 2021 - Cobalt Blockchain Inc. (TSXV: COBC) (OTC Pink: COBCF) ("COBC" or the "Company") announced today that, further to the Company's press release of February 8, 2021, it has completed the debt settlement with two arm's length creditors issuing 500,000 common shares at a deemed price of $0.085 per share to settle indebtedness of $187,822. All shares issued in the debt settlement transaction are subject to a 4-month hold period.

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"). The Company believes that it is the first mining and mineral trade company set up specifically to procure cobalt in compliance with the Organization 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.

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: pc@cobc.co
Website: www.cobc.co

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75859