Building North America's Next Primary Cobalt Mine

Proposed Merger with Jervois Mining

Transaction Highlights

On April 1, 2019, eCobalt announced a friendly merger (the "Merger") with Jervois Mining Ltd. ("Jervois") by way of a plan of arragement (the "Arrangement") whereby Jervois will acquire all of the issued and outstanding shares of eCobalt that it does not already own. 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.

Benefits of the Merger:

  • 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 a large package of prospective exploration tenements in Uganda from the recently closed merger with M2 Cobalt Corp.
  • Exposure to the value creation potential of a global project pipeline of non-DRC cobalt amidst a backdrop of growing demand.
  • Expanded management team with combined skill set of exploration, development, financing, construction, commissioning and operations.
  • Access to the Australian and North American mining capital markets through listings on the Australian Stock Exchange, TSX Venture Exchange and OTCQX.
  • Strong, supportive combined corporate, institutional and retail shareholder base providing enhanced market presence.

The Company's Annual General and Special Meeting will be held at the Terminal City Club, 837 West Hastings Street, Vancouver, B.C. at 10:00 a.m. (Pacific Time) on Friday, July 19, 2019 where eCobalt Shareholders will be asked to consider and vote on the Merger. eCobalt Shareholders should carefully review the Notice of Meeting, Management Information Circular and related materials with respect to the Special Meeting (collectively, the "Meeting Materials") and then vote their eCobalt Shares at or ahead of the Special Meeting.

The eCobalt Board of Directors unanimously recommends that eCobalt Shareholders vote in favour of the proposed merger with Jervois. Your vote is important – please vote today via phone, internet, mail or fax.

To view the Company's filings visit eCobalt's SEDAR page.

For more information about Jervois Mining visit jervoismining.com.au.

If you have any questions, please contact Investor Relations at inform@ecobalt.com