First Cobalt Corp. (TSXV:FCC) entered into an agreement to acquire Cobalt Industries of Canada Inc. for CAD 1.7 million on December 12, 2016. Under the terms, First Cobalt will issue 6.9 million common shares as consideration. All securities issued in connection with the acquisition will be subject to a four month and one day statutory hold period and to an 18 month escrow arrangement restricting resale of the securities. Under the terms of the escrow arrangement, the securities will be released from escrow in five equal tranches, with the first release occurring six months following completion of the acquisition. The deal is subject to a number of conditions, including approval of the TSX Venture Exchange, as well as such other customary conditions. First Cobalt Corp. (TSXV:FCC) completed the acquisition of Cobalt Industries of Canada Inc. on January 23, 2017.