Ms. Fiona Grant Leydier reports

ECOBALT ANNOUNCES C$26 MILLION BOUGHT DEAL FINANCING

eCobalt Solutions Inc. has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. pursuant to which the underwriters have agreed to purchase, on a bought-deal basis, 20 million units of the company at a price of $1.30 per unit, for aggregate gross proceeds of $26-million. Each unit shall consist of one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $1.95 for a period of 18 months following the closing date.

In addition, the company has granted the underwriters an option, to purchase up to three million additional units at the offering price for a period of 30 days after and including the closing date. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering to the company will be $30-million.

The units will be offered by way of a prospectus supplement and an accompanying short-form base shelf prospectus of the company, in all of the provinces in Canada, other than Quebec, in certain offshore jurisdictions, and in the United States on a private-placement basis pursuant to applicable exemptions under the U.S. Securities Act of 1933, as amended.

The company intends to use the net proceeds of the offering for advancing the development of the company's Idaho cobalt project, supporting preconstruction activities at the mine and mill site in preparation for production, support of engineering for new mine design, and for general working capital purposes.

Closing of the offering is expected to occur on or about Feb. 23, 2018.

About eCobalt Solutions Inc.

eCobalt is a well-established Toronto Stock Exchange-listed company committed to providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly and transparently in the United States. The company's ICP, located in east-central Idaho, is the only environmentally permitted, primary cobalt project in the United States. It is 100 per cent owned by the company's wholly owned subsidiary, Formation Capital Corp. U.S.

We seek Safe Harbor.