Canadian Mining Journal


COBALT: Jervois completes merger with M2 Cobalt

AUSTRALIA – Jervois Mining today completed its previously announced merger with M2 Cobalt Corp. of Vancouver following receipt of approvals from both M2 Cobalt shareholders and the B.C. Supreme Court.

In light of the merger, Simon Clarke, former CEO and executive director of M2 Cobalt, joins the Jervois board as a non-executive director. He is a qualified CPA and securities lawyer with 25 years of senior management experience in the resource and energy sector with companies like OSUM Oil Sands and RailPower Technologies.

Also at Jervois, Stephen van der Sluys has stepped down as the director and interim CEO for the transition period, while Andy Edelmeier, former CFO of M2 Cobalt, joins the team as interim CFO. Edelmeier was a partner at Strata Partners, a London-based corporate finance firm, where he advised on private equity financings and cross border M&A.

Earlier this year, Jervois also entered into an at-market merger with Vancouver-based eCobalt Solutions, which will require shareholder approval during a vote held on July 18, 2019. Following the mergers Jervois will be listed on the ASX and TSXV under the symbol JRV.

Acquiring M2 Cobalt gives Jervois access to the historic Kilembe mine and Kasese cobalt refinery in Uganda to support the company’s East African ambitions, the company says.

Written with material from Newsfilecorp.

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