CB-12769 Updated version and RELEASENOTES.md for release 7.0.1
diff --git a/RELEASENOTES.md b/RELEASENOTES.md
index 8db599d..04284ee 100644
--- a/RELEASENOTES.md
+++ b/RELEASENOTES.md
@@ -20,6 +20,9 @@
 -->
 # Cordova-cli Release Notes
 
+### 7.0.1 (May 08, 2017)
+* [CB-12769](https://issues.apache.org/jira/browse/CB-12769): Updated 'cordova-lib` dependency to 7.0.1.
+
 ### 7.0.0 (May 02, 2017)
 * [CB-12570](https://issues.apache.org/jira/browse/CB-12570): `cordova-fetch` is true by default. Use `--nofetch` flag to fetch platforms and plugins using old fetching logic.
 * [CB-12665](https://issues.apache.org/jira/browse/CB-12665): removed `engineStrict` as it is no longer supported
diff --git a/package.json b/package.json
index a92b4f4..3206904 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "cordova",
-  "version": "7.0.1-dev",
+  "version": "7.0.1",
   "preferGlobal": true,
   "description": "Cordova command line interface tool",
   "main": "cordova",
@@ -32,7 +32,7 @@
   "dependencies": {
     "configstore": "2.1.0",
     "cordova-common": "2.0.3",
-    "cordova-lib": "7.0.0",
+    "cordova-lib": "7.0.1",
     "editor": "1.0.0",
     "insight": "0.8.2",
     "nopt": "3.0.1",