Jervois Mining Limited reported that it has completed its plan of arrangement with M2 Cobalt Corp. under the Business Corporations Act (British Columbia). Pursuant to the terms of the Arrangement, at 12:01a.m. Pacific Time on June 19, 2019, Jervois will automatically acquire all the issued and outstanding common shares in the capital of M2 Cobalt in consideration for issuing 63,819,995 ordinary shares in the capital of Jervois to eligible M2 Cobalt shareholders at a ratio of one Jervois share for each M2 Cobalt share.

Upon completion of the Arrangement, Mr. Simon Clarke, former Chief Executive Officer and Executive Director of M2 Cobalt, has joined Jervois's Board of Directors as a Non-Executive Director and Mr. Stephen van der Sluys has stepped down as a director of Jervois. In addition, Mr. Andy Edelmeier, former Chief Financial Officer of M2 Cobalt, has joined Jervois's management team and will continue as Interim Chief Financial Officer of Jervois. Prior to co- founding M2 Cobalt, he gained extensive experience working in the finance and capital markets industries for more than 25 years.

He was formerly a Partner at Strata Partners, where he advised on private equity financings and cross border M&A.