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eCobalt To Seek Shareholder Approval Of Proposed Merger With Jervois Mining

Mining News - Published on Wed, 26 Jun 2019

Image Source: Visual Capitalist
eCobalt Solutions Inc announced that it will seek approval for its proposed merger with Jervois Mining Ltd at the annual and special meeting of shareholders to be held on July 19, 2019 at the Terminal City Club, 837 West Hastings Street, Vancouver, BC at 10:00 am. The Company has mailed and filed on SEDAR a management information circular which describes the proposed merger with Jervois and the expected business of Jervois following completion of the merger. Holders of eCobalt common shares will also be asked at the Special Meeting to consider the other matters described below. The eCobalt Board of Directors unanimously recommends that eCobalt Shareholders vote in favour of the proposed merger with Jervois, as previously announced on April 1,2019. Your vote is important - please vote today via phone, internet, mail or fax.

At the Special Meeting, holders of eCobalt Shareholders will be asked to consider and vote upon the proposed merger between eCobalt and Jervois pursuant to a British Columbia plan of arrangement in which Jervois will acquire all of the issued and outstanding common shares of eCobalt. Each eCobalt Shareholder will be entitled to receive 1.65 common shares of Jervois for each share of eCobalt held. Jervois will seek conditional approval to list the Jervois Shares to be issued to eCobalt Shareholders under the eCobalt Arrangement on the TSX Venture Exchange. In addition, Jervois has applied to list its shares on the OTCQX market in the United States. The Merger will lead to an enlarged company with greater scale, liquidity and diversification with a full project pipeline of non-DRC cobalt assets, creating a global industry leader.

Holders of 19.05% of eCobalt's outstanding shares are committed to vote in favour of the Merger. In order to become effective, the Merger will require the affirmative vote of at least 66 2/3% of the total number of votes cast at the Special Meeting. Jervois’ shareholders are expected to vote on the issue of shares in connection with the Merger on Thursday, July 18, 2019, which requires a majority of shares voting to approve. The Merger is expected to close on Tuesday, July 23, 2019, subject to shareholder approvals and satisfaction of other customary conditions.

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Posted By : Sanju Moirangthem on Wed, 26 Jun 2019
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