Cobalt Blockchain Extends Private Placement

COBALT BLOCKCHAIN EXTENDS PRIVATE PLACEMENT

TORONTO, ONTARIO (August 30, 2018) – Cobalt Blockchain Inc. (“COBC” or the

"Company") (TSXV:COBC) is extending its previously announced brokered equity private

placement of up to 12 million common shares at a price of 25 cents per common share, for gross

proceeds of up to $3-million.

In connection with the private placement, the company has agreed to pay IBK Capital Corp. a

cash commission equal to 8 per cent of the amount raised and broker warrants equal to 10 per

cent of the number of common shares issued pursuant to the private placement. Each broker

warrant is exercisable into one common share at a price of 25 cents per common share for a

period of five years from the date of issuance.

The private placement is subject to all necessary regulatory approvals. The securities being

issued in the private placement will be subject to a four-month hold period in accordance with

applicable Canadian 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). COBC has acquired a 100% interest in an existing metals trading business

specializing in sourcing minerals from artisanal and small-scale mines in the DRC, in

compliance with international procurement standards. Leveraging its experience with existing

supply chain due diligence initiatives, COBC is working with partners to develop 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

2

This release includes certain statements that may be deemed "forward-looking statements". All statements in

thisrelease, other than statements of historical facts, that address future production, reserve potential, exploration

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

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

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

differ materially from those in the statements. There are certain factors that could cause actual results to differ

materially from those in

forward-looking statements. These include 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 guarantees 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 Provider (as that term is defined in the policies of

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