Building North America's Next Primary Cobalt Mine

eCobalt/Jervois Merger

Transaction Highlights

  • Enhanced geographic and asset diversification by combining development-stage Nico Young and Idaho Cobalt Project ("ICP") assets in Australia and the United States, respectively, with assets in Africa from previously announced M2 Cobalt Merger
  • Post-Transaction and closing of the M2 Cobalt Merger, the Board of Directors of the pro forma company ("New Jervois") will consist of three nominees from Jervois and two nominees from eCobalt
  • Existing Jervois Chairman, Mr Peter Johnston, and Chief Executive Officer, Mr Bryce Crocker, will continue in their existing roles in New Jervois
  • Primary listing on the Australian Stock Exchange ("ASX") and will seek a listing on the TSX Venture Exchange ("TSX-V"); will provide access to the Australian and North American mining capital markets

Under the Arrangement, each common share of eCobalt will be exchanged for 1.65 common shares of Jervois (the "Exchange Ratio"). This represents an implied offer price of C$0.36 per eCobalt share based on the closing price of Jervois' common shares on the ASX on March 29, 2019.

An information circular will be mailed to shareholders as well as posted to this webpage in Q3. The date for the shareholder meeting will also be announced at this time.