June 26 (Reuters) - First Cobalt Corp FCC.V :
* Cobalt one to merge with first cobalt
* Deal implies a total transaction value of approximately $140 million on a fully diluted in money basis
* Cobalt One shareholders to receive 0.145 of Co's common share for each cobalt one ordinary share,representing equivalent of a$0.11/co1 share
* Co intends to acquire all of issued and outstanding common shares of cobalt one by way of a court approved scheme of arrangement
* Following completion of arrangement, it is intended that co's board will be reconstituted to include Cobalt One chairman Paul Matysek
* Cobalt One shareholders will maintain a majority stake in MergeCo
* Co's board will be reconstituted to include cobalt one executive director Jason Bontempo,Robert Cross and some or all of current co board members
* Arrangement to constitute a reverse-takeover of First Cobalt under policies of TSXV Source text for Eikon: ID:nCCN88NVZa Further company coverage: [FCC.V CO1.AX]