June 21 (Reuters) - First Cobalt
* First Cobalt proposes friendly merger with cobalt one
* Under proposal, First Cobalt would acquire all of outstanding common shares of Cobalt One
* Deal would result in shareholders of Cobalt One holding about 60% of equity in merged entity
* Shareholders of First Cobalt would hold remaining 40% of equity in merged entity
* Proposal delivered suggests Cobalt One to maintain TSXV listing, seek to obtain secondary listing on ASX of chess depositary interests Source text for Eikon: ID:nCCNX71Sja Further company coverage: CO1.AX