Jervois completes M2 Cobalt buyout, expands into Uganda

Kilembe has an estimated 4 million tonnes of ore, of which 1.98% is estimated to be pure copper and 0.17% cobalt – Image courtesy of M2 Cobalt Corp

Jervois Mining Ltd. (ASX: JRV) today completed its previously announced merger with M2 Cobalt Corp. (TSXV: MC) following receipt of approvals from both M2 Cobalt shareholders and the BC Supreme Court.

In light of the merger, Simon Clarke, former CEO and executive director of M2 Cobalt, will join the Jervois board as a non-executive director.

At Jervois, Stephen van der Sluys has stepped down as the director and interim CEO for the transition period, while Andy Eldelmeier, former CFO of M2 Cobalt, joins the team as interim CFO.

Earlier this year, Jervois also entered into an at-market merger with eCobalt Solutions Inc., which will require shareholder approval next month.

Following the mergers Jervois will be listed in both Australia and Canada under the symbol JRV.

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

4120 0


Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More Africa News