Jervois Global: Raises $178m via retail entitlement offer

Jervois Global Raises $178m via retail entitlement offer

• Jervois Global (JRV), formerly Jervois Mining, has successfully closed a retail entitlement offer to raise $178 million
• This retail component formed part of an underwritten one-for-1.56 accelerated non-renounceable entitlement offer announced in late July
• It forms part of a $313 million equity raise, including a placement and non-renounceable entitlement offer, to fund the acquisition of Freeport Cobalt
• The placement and institutional component of the offer were completed at the end of July and raised $136 million
• Now the equity raise is nearing completion, Jervois is on track to become the second largest producer of refined cobalt outside China
• Company shares are up 3.45 per cent to trade at 45 cents at 1:56 pm AEST