Cobalt 27 Announces Date of Final Order

TORONTO,Oct. 10,2019 -- Cobalt 27 Capital Corp. (TSXV: KBLT) (OTCQX: CBLLF) (FRA: 270) ("Cobalt 27" or the "Company") announces today that in connection with the previously announced plan of arrangement (the "Arrangement") among Cobalt 27,Pala Investments Limited and 1212771 B.C. Ltd,the Company hereby provides notice that the Company's application for a final order (the "Final Order") approving the Arrangement and declaring it to be fair and reasonable to shareholders of the Company will be heard on October 16,2019 at 9:45 a.m. (Vancouver time) at the courthouse at 800 Smithe Street,Vancouver,British Columbia,V6Z W31.

Shareholders and incentive security holders of the Company are hereby notified that should they wish to be heard at the hearing of the application for the Final Order or wish to be notified of any further proceedings,they must file a form entitled "Response to Petition" together with any evidence or materials on which they intend to rely at the Vancouver Registry of the Supreme Court of British Columbia and must also deliver a copy of the Response to Petition and any other evidence or material to the Company's address for delivery,on or before 4:00 p.m. (Vancouver time) on October 9,2019. For additional information on the supplemental order,which was granted on September 17,2019,see Cobalt 27's supplement dated October 3,2019 to the Company's management information circular dated August 13,which is available under the Company's profile on SEDAR at www.sedar.com.

About Cobalt 27

Cobalt 27 Capital Corp. is a leading battery metals streaming company offering exposure to metals integral to key technologies of the electric vehicle and energy storage markets. Cobalt 27 holds an 8.56% joint venture interest in the long-life,world-class Ramu operation which currently delivers near-term attributable nickel and cobalt production. Cobalt 27 also manages a portfolio of 11 royalties. Cobalt 27 also owns physical cobalt and a cobalt stream on the Voisey's Bay mine.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may","should","anticipate","expect","potential","believe","intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include,but are not limited to statements with respect to: the proposed Arrangement and the timing and expectations with respect to the granting of the Final Order. In particular,there can be no assurance that the Arrangement will be completed. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties,most of which are beyond the Company's control. For more details on these and other risk factors see the Company's Management Information Circular dated August 13,and as supplemented on October 3,on file with Canadian securities regulatory authorities on SEDAR at www.sedar.com under the heading "Risk Factors". Should one or more of the risks or uncertainties underlying these forward-looking statements materialize,or should assumptions underlying the forward-looking statements prove incorrect,actual results,performance or achievements could vary materially from those expressed or implied by the forward-looking statements.

The forward-looking statements contained herein are made as of the date of this release and,other than as required by applicable securities laws,the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.

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. No securities regulatory authority has either approved or disapproved of the contents of this news release.