JRVMF - Jervois completes Retail Entitlement Offer component of its US$50M Capital Raising

(TheNewswire)

Australia - TheNewswire - 21 July 2023 - Jervois Global Limited (ASX:JRV) (TSX-V:JRV) (OTC:JRVMF) (“ Jervois ” or the “ Company ”) advises the successful completionof the retail component of its fully underwritten 1 for 3.34accelerated non-renounceable entitlement offer (the “ Retail Entitlement Offer ”) of new fully paid ordinary shares (“ New Shares ”)announced to the Australian Securities Exchange (“ ASX ”) on Wednesday,28 June 2023.

The Retail Entitlement Offer closed at 5:00pm (Sydneytime) on Tuesday, 18 July 2023 and raised a total of approximatelyA$17.2 million (US$11.5 million 1 ) atA$0.06 per New Share.

Jervois raised A$37.4 million (US$25 million) in totalunder the Retail Entitlement Offer and the institutional component ofthe entitlement offer. The net proceeds will be used to strengthenJervois’ balance sheet, improve liquidity and working capitalflexibility, with cash also being applied to debt reduction.

Applications for a total of approximately 71 millionNew Shares were received from eligible retail shareholders under theRetail Entitlement Offer, for approximately A$4.2 million (US$2.8million) in gross cash proceeds to the Company. This represented anoverall take up rate of approximately 24%.

It is expected that the approximately 215 million NewShares that were not taken up under the Retail Entitlement Offer willbe allotted to sub-underwriters of the Retail EntitlementOffer.

Approximately 285 million New Shares to be issued underthe Retail Entitlement Offer are expected to be allotted on Tuesday,25 July 2023 and are expected to trade on the ASX on Wednesday, 26July 2023. The New Shares will rank equally with existing Jervoisordinary shares on issue.

Holding statements are expected to be despatched onWednesday, 26 July 2023.

Further information regarding the Retail EntitlementOffer is contained in the Investor Presentation released to the ASX onWednesday, 28 June 2023 and the Retail Offer Booklet released to theASX on Wednesday, 5 July 2023.

This announcement has been approved for release by theBoard of Directors of Jervois Global Limited.

For further information,please contact:

Forward-LookingStatements

This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule”, “expected” and other similar words or expressionsidentify forward-looking statements or information. Theseforward-looking statements or information may relate to the CapitalRaising and approvals of the TSXV, future operations at JervoisFinland, anticipated partnerships, restart and timing of SMP Refinery;future operations; future growth potential of Jervois’ projects andfuture development plans; , and certain other factors or information.Such statements represent Jervois’ current views with respect tofuture events and are necessarily based upon a number of assumptionsand estimates that, while considered reasonable by Jervois, areinherently subject to significant business, economic, competitive,political and social risks, contingencies and uncertainties. Manyfactors, both known and unknown, could cause results, performance orachievements to be materially different from the results, performanceor achievements that are or may be expressed or implied by suchforward-looking statements.

These forward-looking statements arebased on assumptions and contingencies that are subject to changewithout notice and involve known and unknown risks, uncertainties andother factors, many of which are beyond the control of the Company andits related bodies corporate and affiliates (and each of theirrespective directors, securityholders, officers, employees, partners,agents, advisers and management), and could cause results, performanceor achievements to be materially different from the results,performance or achievements that are or may be expressed or implied bysuch forward-looking statements or any projections and assumptions onwhich those statements are based. This includes statements aboutmarket and industry trends, which are based on interpretations ofmarket conditions.

Forward-looking statements areprovided as a general guide only and should not be relied on as anindication or guarantee of future performance. These statements mayassume the success of the Company’s business strategies, the successof which may not be realised within the period for which theforward-looking statements may have been prepared, or at all, and thereceipt of applicable approvals to complete the Capital Raising.

No guarantee, representation orwarranty, express or implied, is made as to the accuracy, likelihoodof achievement or reasonableness of any forecasts, prospects, returns,statements or tax treatment in relation to future matters contained inthis announcement. The forward-looking statements are based oninformation available to the Company as at the date of thisannouncement. Except as required by applicable laws, rules orregulations, none of the Company, its representatives or advisersintends to, or undertakes to, or assumes any obligation to, provideany additional information, update or revise the statements in thisannouncement, whether as a result of a change in expectations orassumptions, new information, future events, results or

circumstances.

Not an offer ofsecurities

This announcement has been preparedfor publication in Australia and may not be released to US wireservices or distributed in the United States. This announcement doesnot constitute an offer to sell, or a solicitation of an offer to buy,securities in the United States or any other jurisdiction. Anysecurities described in this announcement have not been, and will notbe, registered under the US Securities Act of 1933 and may not beoffered or sold in the United States except in transactions exemptfrom, or not subject to, the registration requirements of the USSecurities Act and applicable US state securities laws.

General

In addition, this announcement issubject to the same “Important Notice and Disclaimer” as appearson slides 2 to 5 of the Investor Presentation with any necessarycontextual changes.

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.

Not for release to US wire servicesor distribution in the United States

1 AUD/USD exchange rate of 0.67 applied

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