23 December 2021 (Australia) TheNewswire - Jervois Global Limited (" Jervois " or the " Company ") (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) advises it is extending the closing date for the acquisition of the São Miguel Paulista (" SMP ") nickel cobalt refinery in São Paulo, Brazil.
Jervois has agreed with Companhia Brasileira de Alumínio (" CBA ") (a publicly listed aluminium company majority owned by Votorantim SA) to extend the outside date of closing of Jervois' acquisition of SMP by one month, from 31 March 2022 to 30 April 2022.
The closing date extension is to accommodate CBA's renewal of the São Paulo City Hall operating permit for SMP, which is no longer expected to be received by the end of the 2021 calendar year.
Jervois will continue to hold a lease over SMP, providing it with the access it requires to complete the Ausenco Limited (" Ausenco ") led bankable feasibility study for a restart of SMP. However, Jervois will no longer pay CBA the R$1.5 million monthly lease charge from 1 January 2022 through to the expected closing of Jervois' acquisition of SMP.
Jervois' early termination option under the transaction sale and purchase agreement (the " Purchase Agreement ") will also be extended by one month, to 31 January 2022.
Jervois does not expect to further update the market on the exact timing of SMP's closing, other than to confirm either that closing has occurred or that the Purchase Agreement has been terminated or expired.
On behalf of Jervois Global Limited,
Bryce Crocker, Chief Executive Officer
For further information, please contact:
Investors and analysts:
Chief Financial Officer
Mob: +61 420 582 887
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable 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 expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the acquisition of SMP refinery and certain other factors or information. Such statements represent Jervois' current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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