Cobalt 27 Provides Update on Proposed Arrangement with Pala Investments Limited

TORONTO, Sept. 3, 2019 /PRNewswire/ – Cobalt 27 Capital Corp. (TSXV: KBLT) (OTCQX: CBLLF) (FRA: 270) (“Cobalt 27” or the “Company”) today provides an update in connection with the proposed acquisition of Cobalt 27 by Pala Investments Limited (“Pala”) by way of a plan of arrangement (the “Arrangement”), pursuant to which Pala will indirectly acquire all of the issued and outstanding shares of the Company, other than the approximately 19% that Pala already owns, by way of statutory plan of arrangement. Under the Arrangement, shareholders of Cobalt 27 will receive consideration of C$5.75 per common share, comprised of C$3.57 in cash plus shares of a newly listed company named Nickel 28 Capital Corp. (“Nickel 28”) with an implied value of C$2.18 per share.