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Jervois Mining Announces Acquisitions of eCobalt and M2 Cobalt

Published: 04/01/2019

Team: Sam Cole, Gordon R. Chambers, Sam Chapman, Christopher B. Norton, Tera Li Parizeau

On January 22, 2019, Jervois Mining Limited and M2 Cobalt Corp. announced that they had entered into an arrangement agreement in which Jervois will acquire all of the outstanding common shares of M2 Cobalt in an at-market transaction pursuant to a plan of arrangement.  Under the terms of the Jervois-M2 Cobalt arrangement agreement, each common share of M2 Cobalt will be exchanged for one common shares of Jervois. Subsequently, on April 1, 2019, Jervois and eCobalt Solutions Inc. announced that they had entered into an arrangement agreement in which Jervois will also acquire all of the outstanding common shares of eCobalt pursuant to a plan of arrangement. Under the terms of the Jervois-eCobalt arrangement agreement, each common share of eCobalt will be exchanged for 1.65 common shares of Jervois. The two transactions, valued at $70.9 million, will create an industry leader in the battery metals sectors, with a diverse portfolio of development and exploration-stage assets in Australia, East Africa and the United States.

Cassels Brock is acting for M2 Cobalt with a deal team that includes Sam Cole, Gordon Chambers and Sam Chapman (Securities, Mining and M&A) and Chris Norton and Tera Li Parizeau (Tax).