Mr. Carl von Einsiedel reports

ARAK RESOURCES LTD.: NAME CHANGE, NEW TRADING SYMBOL, AND FORWARD-SPLIT, EFFECTIVE MONDAY, APRIL 10, 2017

Arak Resources Ltd. having received regulatory acceptance, the following corporate changes will take effect at the open on Monday, April 10, 2017.

Change of name and new trading symbol

The company will change its name to Cobalt 27 Capital Corp. and commence trading under its new name under new stock trading symbol KBLT.

Forward split

Concurrently, the company's shares will commence trading on a postsplit basis -- three new shares for every one old share held. The company will be mailing to its shareholders letters of transmittal with instructions on how their old company shares may be exchanged for new Cobalt 27 shares. Following implementation of the forward split, the company will have 33,183,381 common shares outstanding.

Cobalt 27 plans to continue to refocus its efforts, and aggressively pursue projects and opportunities in the battery metals sector.