ASX-listed Jervois Mining has completed a plan of arrangement to acquire TSX-listed M2 Cobalt.
The acquisition provides Jervois entry into Uganda to complement its East African ambitions, particularly regarding opportunities around the historic Kilembe mine and the Kasese cobalt refinery.
Former M2 Cobalt CEO and executive director Simon Clarke has joined Jervois’ board of directors as a nonexecutive director, while Stephen van der Sluys has stepped down as a director of Jervois.
Former M2 Cobalt CFO Andy Edelmeier will continue as interim CFO of Jervois.
Following the receipt of a final acceptance bulletin from the TSX-V, Jervois will begin trading on the exchange on or about June 21. It will also retain its primary listing on the ASX.