(TheNewswire)
20 July 2023 – TheNewswire - Australia - Jervois GlobalLimited (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) (“ Jervois ” or the“ Company ”) provides an update on the US$50 million capital raising(“ CapitalRaising ”), comprised of a US$25 millionissuance of Unsecured Convertible Notes (“ Convertible Notes Offer ”) and a concurrent, fully underwritten 1 for 3.34accelerated non-renounceable entitlement offer to also raise US$25million (A$37.4 million) 1 (“ EntitlementOffer ”), announced on Wednesday, 28 June2023.
The first tranche of US$19.9 million Convertible Noteshas now been issued.
Together with proceeds from the US$25 millionEntitlement Offer, proceeds from the US$25 million Convertible NotesOffer will be used to strengthen Jervois’ balance sheet, improveliquidity and working capital flexibility, as well as to reduce debt.
The second tranche of Convertible Notes is anticipatedto be issued following Jervois shareholder approval that will besought at a general meeting on or about 25 August 2023. Jervois willshortly issue to the Australian Securities Exchange (“ ASX ”) and send toshareholders a notice of meeting and explanatory statement for thatmeeting.
Additional Information
Further details on the Capital Raising are set out inthe Investor Presentation Jervois released to the ASX on Wednesday, 28June 2023. The Investor Presentation contains important informationincluding disclaimers, key risks and foreign selling restrictions withrespect to the Entitlement Offer.
Jefferies (Australia) Pty Ltd and Canaccord Genuity(Australia) Limited are acting as Joint Lead Managers and Underwritersto the Entitlement Offer.
This announcement has been approved for release by theBoard of Directors of Jervois Global Limited.
Completion of the Capital Raising is subject to theapproval of the TSX Venture Exchange.
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois Global | Media: Nathan Ryan NWR Communications |
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 shareholder approval andissue of Convertible Notes 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 conversions in this announcementbased on an AUD/USD exchange rate of 0.67 (27 June 2023)
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