March 14 (Reuters) - First Cobalt Corp FCC.V :
* FIRST COBALT ANNOUNCES FRIENDLY ACQUISITION OF US COBALT
* FIRST COBALT CORP - DEAL IMPLIES TOTAL EQUITY VALUE OF APPROXIMATELY $149.9 MILLION ON A FULLY-DILUTED IN-THE-MONEY BASIS
* FIRST COBALT - AGREED TO APPOINT A US COBALT NOMINEE TO ITS BOARD EFFECTIVE AT CLOSING OF TRANSACTION
* FIRST COBALT CORP - UPON DEAL COMPLETION , EXISTING FIRST COBALT AND US COBALT SHAREHOLDERS TO OWN ABOUT 62.5% AND 37.5% OF COMBINED CO
* FIRST COBALT CORP - ARRANGEMENT AGREEMENT HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF FIRST COBALT AND US COBALT
* FIRST COBALT CORP - BOARD OF DIRECTORS OF US COBALT RECOMMENDS THAT ITS SHAREHOLDERS VOTE IN FAVOUR OF TRANSACTION