March 26 (Reuters) - First Cobalt Corp FCC.V :
* FIRST COBALT TO ISSUE SHARES TO GLENCORE IN REPAYMENT OF LOAN
* FIRST COBALT CORP - TO REPAY EXISTING LOAN OF ABOUT $5.5 MILLION OF DEBT BY ISSUING COMMON SHARES
* FIRST COBALT CORP - SHARES TO BE ISSUED TO GLENCORE FOR LOAN REPAYMENT IS ABOUT 4.8% OF OUTSTANDING SHARES