June 26 (Reuters) - First Cobalt Corp FCC.V :
- Cobalt one to merge with first cobalt
- Deal implies a total transaction value of approximately $140 million on a fully diluted in money basis
- Cobalt One shareholders to receive 0.145 of Co's common share for each cobalt one ordinary share,representing equivalent of a$0.11/co1 share
- Co intends to acquire all of issued and outstanding common shares of cobalt one by way of a court approved scheme of arrangement
- Following completion of arrangement, it is intended that co's board will be reconstituted to include Cobalt One chairman Paul Matysek
- Cobalt One shareholders will maintain a majority stake in MergeCo
- Co's board will be reconstituted to include cobalt one executive director Jason Bontempo,Robert Cross and some or all of current co board members
- Arrangement to constitute a reverse-takeover of First Cobalt under policies of TSXV
