Peat Resources Limited Announces Shareholder Vote to Change Name to Cobalt Blockchain Inc. and Other Results from its Annual and Special Meeting

TORONTO, March 14, 2018 /CNW/ - Peat Resources Limited (the "Company") (TSXV: PET) held its Annual and a Special Meeting of Shareholders on March 13, 2018 (the "Meeting") with the following results:

1. The Special Resolution approving the change of the Company's name to Cobalt Blockchain Inc. was approved by 100% of the votes cast. The Company must receive TSX Venture Exchange approval prior to the name change.
   
   
2. The Company's proposed acquisition of Belair African Metals SARL was approved by 100% of the votes cast.
   
   
3. The resolution approving and confirming changes in management was approved by 100% of the votes cast excluding those votes attaching to shares beneficially owned by directors and officers (including new proposed directors and officers), their affiliates, associates and joint actors and by insiders.
   
   
4. The following directors were elected until the next annual meeting of shareholders or until their successors are otherwise duly elected or appointed:
   
   Patricia Mannard
   Michael Cachia
   Samuel Peralta
   Peter Hooper
   Lance Hooper
   Jim Blake
   
   All directors received the support of more than 97.99% of the votes represented at the meeting.
   
   
5. RSM Canada LLP were appointed as auditors of the Company with 100% of the votes.
   
   
6. The Company's Stock Option Plan was confirmed and approved by 99.56% of the votes cast.
   
   
7. The Company's Restricted Share Unit Plan was confirmed and approved by 98.76% of the votes cast excluding those votes attaching to shares beneficially owned by directors and officers (including new proposed directors and officers), their affiliates, associates and joint actors and by insiders.

About Peat Resources Limited

Peat Resources Limited is changing its name to Cobalt Blockchain Inc. ("COBC") (TSX-V:PET, transitioning to TSX-V:COBC) and 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 been authorized by its shareholders to acquire a 100% interest in an existing metals trading business specializing in sourcing conflict-free minerals from artisanal and small-scale mines in the DRC.  Leveraging its experience with existing mineral traceability systems, COBC is developing a distributed ledger-based certification platform to provide manufacturers and end-users 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 have a proven international track record in exploration success and the trading of certified conflict-free, child-labour-free minerals.

Forward-Looking Information

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

SOURCE Peat Resources Limited