Jervois Global Ltd (JRV)

[douginil]

Jervois Closes Freeport Cobalt Acquisition


2 September 2021 (Australia) ASX / TSX-V: JRV OTC: JRVMF

HIGHLIGHTS

• Jervois closes its US$160 million acquisition of Freeport Cobalt, with the final purchase price including working capital but excluding cash being approximately US$192 million to reflect higher cobalt inventory acquired
• Acquisition aims to consolidate the transformation of Jervois into a global, vertically integrated cobalt and nickel company of scale
• Jervois has purchased an operating global leader in the cobalt industry, with an
established market platform that is diversified by product and value chain segment
• A$313 million equity raise closed with final settlement of the A$177 million retail entitlement offer tranche, fully underwritten by UBS and Jefferies
• AustralianSuper invests a further A$73.9 million; Mercuria, one of the world’s largest energy and commodity traders, invests A$45.7 million
• Jervois Directors and Management subscribe for an additional A$3.57 million to support the transaction

Jervois Global Limited (“Jervois” or the “Company”, formerly Jervois Mining Limited) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) confirms it has closed its previously announced acquisition of 100% of Freeport Cobalt by purchasing all the shares of Freeport Cobalt Oy and four affiliated entities from Koboltti Chemicals Holdings Limited (“KCHL”) (the "Acquisition").

The Acquisition has the potential to transform Jervois into the second largest producer of refined cobalt outside China, building on existing assets of Jervois’ Idaho Cobalt Operations (“ICO”) in the United States, expected to come into production from mid-2022, and the São Miguel Paulista (“SMP”) nickel and cobalt refinery in São Paulo, Brazil which Jervois has agreed to acquire.

The Acquisition is expected to transform Jervois into a global, vertically integrated cobalt and nickel company of scale, led by a highly experienced management team. Jervois is diversified across multiple products and value chain segments with significant relevance to leading cobalt producers and end-users.

Read more at:
https://mcusercontent.com/6f52ace6c580fa2e1b6485f53/files/8b3c7ce1-0329-7c9b-c702-0bab35bdf8a4/Jervois_Closes_Freeport_Cobalt_Acquisition.01.pdf