(TheNewswire)
30 August 2021 - TheNewswire - Australia - Jervois Global Limited (” Jervois ” or the“ Company ”, formerly Jervois Mining Limited)(ASX:JRV) (TSXV:JRV) (OTC:JRVMF) is pleased to announce the successfulclosing of the retail component of its underwritten 1 for 1.56accelerated non-renounceable entitlement offer (the “ Retail Entitlement Offer ”) of new fully paid ordinary shares (“ New Shares ”)announced to ASX on Tuesday, 27 July 2021.
The Retail Entitlement Offer closed at 5:00pm (Sydneytime) on Wednesday, 25 August 2021 and raised a total of approximatelyA$178 million at A$0.44 per New Share and thenet proceeds will be available to Jervois on Wednesday, 1 September2021 in Australia when the New Shares are issued.
Jervois raised approximately A$313 million in totalunder the Retail Entitlement Offer and Jervois’ previously announcedand closed institutional placement and institutional component of theentitlement offer (collectively, the “ Offer ”).
The net proceeds from the Offer are expected to be usedto fund the acquisition of Freeport Cobalt, for Idaho CobaltOperations development expenditure and for general corporate purposes,including advancement of feasibility studies at the São Miguel Paulista nickel cobaltrefinery in Brazil.
Applications for a total of 116,157,489 New Shares werereceived from eligible retail shareholders under the RetailEntitlement Offer, for A$51.1 million in gross cash proceeds to theCompany. This represented an overall take up rate of approximately29% (and a take-up rate of entitlements by eligible retailshareholders of close to 38%).
It is expected that the approximately 288 million NewShares that were not taken up under the Retail Entitlement Offer willbe allotted to sub-underwriters of the Retail Entitlement Offer.
Approximately 404 million New Shares to be issued underthe Retail Entitlement Offer are expected to be allotted on Wednesday,1 September 2021 and are expected to trade on the ASX on a normalsettlement basis on Thursday, 2 September 2021. The New Shares willrank equally with currently issued and outstanding Jervois shares.
Holding statements are expected to be despatched onThursday, 2 September 2021.
Further information regarding the Retail EntitlementOffer is contained in the Investor Presentation released to the ASX onTuesday, 27 July 2021 and the Retail Offer Booklet released to the ASXon Tuesday, 3 August 2021.
This announcement has been approved for release byBryce Crocker, CEO.
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois Global | Media: Nathan Ryan NWR Communications nathan.ryan@nwrcommunications.com.au |
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 timing andeffects of closing the issue of New Shares and the commencement oftrading of the New Shares on the ASX, the, expected gross proceeds,and certain other factors or information. Such statements representJervois’ current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by Jervois, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. Jervois does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations.
Not fordistribution or release in the United States
This announcement has been preparedfor publication in Australia and may not be distributed or released inthe United States. This announcement does not constitute an offer tosell, or a solicitation of an offer to buy, any securities in theUnited States or to any person who is acting for the account orbenefit of any person in the United States (to the extent such aperson is acting for the account or benefit of a person in the UnitedStates). The New Shares described in this announcement have not been,and will not be, registered under the U.S. Securities Act of 1933, asamended (the “ U.S. Securities Act ”) and may not be offered or sold,directly or indirectly, in the United States except in transactionsexempt from, or not subject to, the registration requirements of theU.S. Securities Act and any other applicable US state securitieslaws.
Completion is subject to customaryclosing conditions.
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.
Copyright (c) 2021 TheNewswire - All rights reserved.