International Cobalt Reports of Voting Results of Special Meeting of Shareholders Held on November 22, 2022

VANCOUVER, British Columbia, Nov. 23, 2022 (GLOBE NEWSWIRE) -- International Cobalt Corp. (CSE:CO) (the “Company” or “International Cobalt”) announces that at the Company's special shareholders' meeting held on November 22, 2022, disinterested shareholder approval was obtained to delist (the "Delisting") the Company's common shares from the Canadian Securities Exchange (the "CSE" or the "Exchange"). An aggregate of 4,519,735 shares of a total of 18,496,121 issued and outstanding shares were casted at the meeting (representing 24.44% of votes cast). Of the shares casted, 4,179,665 shares voted in favour of the Delisting (or 92.48%) and 340,070 shares voted against the Delisting (or 7.52%). Nil shares held by interested shareholders voted on the resolution. The CSE has approved the Company's application to delist its common shares from the Exchange effective at the close of trading on November 30, 2022. Notwithstanding the Delisting, the Company will continue to be subject to ongoing disclosure and other obligations as a reporting issuer under applicable securities legislation in Canada.

About International Cobalt Corp.
International Cobalt is a Canadian-based mineral exploration and development Company focusing on the burgeoning battery metals sector. The company seeks to add shareholder value by sourcing and developing projects in safe, progressive jurisdictions adhering to strict environmental and social standards.

On behalf of:

INTERNATIONAL COBALT CORP.

“Eugene Beukman”

Eugene Beukman, Director
604-687-2038

The CSE has not, in any way, passed upon the merits of the transaction and associated transactions and has not, in any way, approved or disapproved of the contents of this news release. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Transaction, the completion thereof and the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory and shareholder approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Readers are cautioned that the foregoing lists of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements. contained in this news release or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.