Cobalt Blockchain Announcement Regarding Private Placements

COBALT BLOCKCHAIN ANNOUNCEMENT REGARDING PRIVATE

PLACEMENTS

TORONTO, ONTARIO (March 16, 2020) – Cobalt Blockchain Inc. (“COBC” or the

"Company") (TSX-V: COBC; OTCQB: COBCF) announces that it expects to complete in the

near term the previously announced private placement offering (the "Offering") through the

issuance of units ("Units") at a price of $0.05 per Unit raising gross proceeds of $1,000,000. The

placement is unbrokered.

Each Unit issued pursuant to the Offering will consist of one common share in the capital of the

Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each

Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20

for a period of two years from the date of its issuance.

The Company intends to use the net proceeds of the Offering to fund for working capital and

general corporate purposes.

The securities to be issued in connection with the Offering are subject to a statutory four-month

hold period from the date of issuance i.e. the hold periods expire four months and one day from

their respective dates of issuance.

The Company is also pleased to announce that it is now proceeding with an additional private

placement offering (the “New Offering”) through the issuance of an additional 50,000,000 Units

at a price of $0.05 per Unit for a gross proceeds of up to $2,500,000.

Each Unit to be issued pursuant to the New Offering consists of one Common Share and one

Common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one

additional Common Share at a price of $0.20 for a period of two years from the date of its

issuance. The New Offering will be brokered.

The Company intends to use the net proceeds of the New Offering to fund i) exploration work on

its joint venture properties and ii) for working capital and general corporate purposes.

The securities to be issued in connection with the New Offering are subject to a statutory four-

month hold period for the respective dates of issuance i.e. the hold periods expire four months

and one day from their respective dates of issuance.

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This press release does not constitute an offer to sell or solicitation of an offer to sell any of the

securities. The securities have not been and will not be registered under the United States

Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws.

About Cobalt Blockchain Inc.

Cobalt Blockchain Inc. (TSXV:COBC) is a Canadian resource company expanding its

exploration and development business to include cobalt assets in the Democratic Republic of the

Congo (“DRC”); it holds export trading licenses for 3T, copper and cobalt from the DRC. COBC

is the first mining and mineral trade company set up specifically to procure cobalt in compliance

with the Organisation for Economic Co-operation and Development (“OECD”) due diligence

framework. COBC has developed and is implementing a blockchain-based reporting platform to

provide greater certainty of provenance and further assurance that all minerals procured are

ethically-sourced. Senior management have over twelve years of experience working in the DRC

and a proven international track record in exploration success and the trading of certified

conflict-free, child-labour-free minerals.

For additional information, please contact:

Lance Hooper, President and Chief Operating Officer

Cobalt Blockchain Inc.

Telephone: +1-416-500-3670

Email: [email protected]

Website: www.cobc.co

Forward-Looking Information

This release includes certain st atements that may be deemed "fo rward-looking statements". All statements in this

release, other than statements o f historical facts, that addres s future production, reserve potential, exploration

drilling, exploitation activities and events or developments th at the Company expects are forward-looking

statements. Although the Company believes the expectations expr essed in such statements are based on reasonable

assumptions, such statements are not guarantees of future perfo rmance and actual results or developments may

differ materially from those in t h e s t a t e m e n t s . T h e r e a r e c e r t ain factors that could cause actual results to differ

materially from those in forward-looking statements. These incl ude market prices, exploitation and exploration

successes, continued availability of capital and financing, and general economic, market or business conditions.

Investors are cautioned that any such statements are not guaran tees of future performance and actual results or

developments may differ materially from those projected in the forward-looking statements. For more information

on the Company, investors should review registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.