Chilean Cobalt Corp. - 8-K

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Tom Diffely to Board of Directors

On March 19, 2026, the board
of directors (the “Board”) of Chilean Cobalt Corp. (the “Company”) appointed Tom Diffely to serve as a member
of the Board until his successor is elected and qualified or until his death, resignation or removal. Mr. Diffely is expected to be a
member of the Audit Committee of the Board.

Mr. Diffely has more than
25 years of finance and equity capital markets experience. He spent the past 16 years at D.A. Davidson & Co., a full-service investment
bank, where he held several roles including senior research analyst covering multiple technology sectors and most recently Director of
Institutional Research. Prior to D.A. Davidson, Tom spent 10 years in equity research at Merrill Lynch covering the semiconductor sector.
Earlier in his career, Mr. Diffely held positions in engineering and general management before transitioning to Wall Street.

Mr. Diffely holds a Bachelor
of Science in Engineering from Harvey Mudd College and an MBA from the Haas School of Business at the University of California, Berkeley,
with a focus on finance and the management of technology. He is also a CFA Charterholder and previously held a Professional Engineer (PE)
license during his time as a consulting engineer.

Other than as disclosed in
this Current Report on Form 8-K, the Company confirms that (1) there is no family relationship between Mr. Diffely and any director or
executive officer of the Company, (2) there was no arrangement or understanding between Mr. Diffely and any other person pursuant to which
they were elected to their position with the Company, and (3) there is no transaction between Mr. Diffely and the Company that would require
disclosure under Item 404(a) of Regulation S-K.

Appointment of Michael Caperonis to Board
of Directors

On March 19, 2026, the board
of directors (the “Board”) of Chilean Cobalt Corp. (the “Company”) appointed Michael Caperonis to serve as a member
of the Board until his successor is elected and qualified or until his death, resignation or removal. Mr. Caperonis is expected to be
a member of the Audit Committee of the Board.

Mr. Caperonis has more than
25 years of finance and capital markets experience. Over the course of his career, Mr. Caperonis has held senior leadership positions
at several major global financial institutions. He previously served as Americas Head of Equities Trading and Global Head of Convertible
Bonds at Citi, as well as Head of Credit and Equities Trading at Nomura. In these roles, he was responsible for overseeing large trading
operations and played a key role in the pricing and syndication of numerous capital raises for major corporations across global capital
markets.

Following his executive roles
in banking, Mr. Caperonis became a Partner at Apollo Global Management and is currently a Portfolio Manager for a large family office,
where he continues to focus on investment strategy and capital markets opportunities.

Mr. Caperonis holds a Bachelor
of Arts degree from Yale University.

Other than as disclosed in
this Current Report on Form 8-K, the Company confirms that (1) there is no family relationship between Mr. Caperonis and any director
or executive officer of the Company, (2) there was no arrangement or understanding between Mr. Caperonis and any other person pursuant
to which they were elected to their position with the Company, and (3) there is no transaction between Mr. Caperonis and the Company that
would require disclosure under Item 404(a) of Regulation S-K.

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Resignation of Greg Levinson from Board
of Directors

On March 19, 2026, Greg Levinson
resigned from the board of directors (the “Board”) of Chilean Cobalt Corp. (the “Company”). At the time of his
resignation, Mr. Levinson was the chairperson of the Audit Committee of the Board. The resignation was not due to any disagreements between
Mr. Levinson and the Company, and he intends to remain a supportive shareholder.

Mr. Levinson resigned to pursue
new ventures that would likely preclude service on a public company board and would compete for his time and focus. That, combined with
the opportunity to add directors with capital markets expertise who are expected to qualify as independent, thereby strengthening the
Company’s governance profile in connection with the Company’s evaluation of a potential future uplisting to a national securities
exchange, made the present timing less disruptive and more beneficial to both Mr. Levinson and the Company.

Item 7.01

Regulation FD Disclosure.

On March 20, 2026 the Company
issued a press release regarding the appointment of Mr. Tom Diffely and Mr. Michael Caperonis to the Board and the resignation of Mr.
Greg Levinson from the Board. The press release is attached hereto as Exhibit 99.1 and incorporated herein by this reference.

The information contained
in the press release attached hereto is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, and shall not be incorporated
by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number

Description

99.1

Chilean Cobalt Corp. March 20, 2026 press
release (furnished herewith)

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

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