Mr. Anthony Milewski reports

COBALT 27 ANNOUNCES UPSIZED US$200 MILLION CREDIT FACILITY

Cobalt 27 Capital Corp. has entered into an amended and upsized revolving term credit facility, whereby the company will have access to a $200-million (U.S.) credit facility, which replaces its undrawn $80-million (U.S.) credit facility announced on May 17, 2018. National Bank of Canada, Bank of Montreal and the Bank of Nova Scotia acted as joint-lead arrangers with a syndicate of lenders that now includes The Toronto-Dominion Bank, Societe Generale SA and Royal Bank of Canada. National Bank of Canada is acting as sole bookrunner and administrative agent.

"Cobalt 27's ability to secure additional borrowing capacity under improved terms reflects confidence in the value of the company's physical cobalt inventory and its recently acquired battery metals streams and royalties on low-cost, long-life mines. This credit facility will fully fund both the first and second tranches of the Ramu cobalt-nickel stream on the producing Ramu nickel-cobalt mine, without the need to access equity capital markets," commented Anthony Milewski, chairman and chief executive officer.

The amended credit facility is secured by the company's physical cobalt inventory as well as the company's streaming and royalty investments. It has an initial term of three years, which is extendable by mutual consent of the lenders and Cobalt 27. The initial drawdown under the amended credit facility is subject to the satisfaction or waiver of certain conditions precedent customary for a financing of this type.

About Cobalt 27 Capital Corp.

Cobalt 27 Capital is a leading electric metal investment vehicle, offering exposure to metals integral to key technologies of the electric vehicle and battery energy storage markets. The company has acquired a cobalt stream on Vale's world-class Voisey's Bay mine beginning in 2021, including the announced underground expansion. Cobalt 27 Capital is also acquiring the world's first producing cobalt nickel stream on the low-cost, long-life Ramu nickel-cobalt mine, and holds one of the world's largest stockpiles of physical cobalt. The company also manages a portfolio of nine royalties and intends to continue to invest in a cobalt-focused portfolio of streams, royalties and direct interests in mineral properties containing cobalt.

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