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M2 Cobalt shareholders approve merger with Jervois Mining

The newly formed company will have projects in Australia, East Africa and the US

M2 cobalt
M2 Cobalt has a portfolio of projects in Uganda

M2 Cobalt Corp (CVE:MC) reported Friday that its shareholders have unanimously approved the proposed merger with Australia’s Jervois Mining Limited (ASX:JRV).

The Vancouver-based company announced in April that it plans to merge with Jervois and, subsequently, Idaho cobalt company eCobalt Solutions Inc (TSE:ECS).

The newly formed company will have projects in Australia, East Africa and the US, including eCobalt’s Idaho Cobalt project, which boasts the highest combination of cobalt grade and scale in North America.

READ: M2 Cobalt one step closer to finalizing merger with Jervois Mining

Jervois Mining will acquire all of the issued and outstanding shares of M2 Cobalt in a one-for-one share exchange.

M2 Cobalt also noted that Jervois will complete its previously announced secondary listing on the TSX Venture Exchange around June 21. Shares of Jervois will trade on both the Venture and Australian Stock Exchange, giving the new company access to both capital markets.

Shareholders will also have the ability to trade their Jervois shares on either exchange.

M2 said it expected the merger to become effective around June 19 after a hearing at the Supreme Court of British Columbia.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: M2 Cobalt Corp

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TSX-V:MC
Market: TSX-V
Market Cap: $0.00
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M2 Cobalt and Jervois Mining become one in a friendly merger

M2 Cobalt (CVE:MC) CEO Simon Clarke sat down to chat with Steve Darling  from Proactive Investors Vancouver to discuss M2 and Jervois merging to create one company. M2 will make up 22.1 percent of Jervois. Clarke tells Proactive the merger is friendly and  will also give M2 one seat...

on 22/1/19

2 min read