VANCOUVER, BC--(Marketwired - April 07, 2017) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Arak Resources Ltd. (TSX VENTURE: AAC) (the "Company") is pleased to announce, having received regulatory acceptance, the following corporate changes that will take effect at the open on Monday, April 10, 2017:

1. Change of Name and New Trading Symbol - The Company will change its name to Cobalt 27 Capital Corp. ("Cobalt 27") and commence trading under its new name under new stock trading symbol: TSX.V - KBLT;
   
2. Forward Split - Concurrently, the Company's shares will commence trading on a post-split 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.

ARAK RESOURCES LTD.

Carl von Einsiedel, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.