ASX-listed Jervois Mining will acquire TSX-V-listed M2 Cobalt as it seeks to gain a foothold in East Africa.
Under the terms of the agreement, each common share of M2 will be exchanged for one common share of Jervois. This represents an implied offer price of C$0.262 apiece, based on the closing price of Jervois’ common shares on the ASX as at January 21.