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 So Miguel Paulista (“SMP”) nickel cobalt refinery in So Paulo, Brazil.
Jervois has agreed with Companhia Brasileira de Alumnio (“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 So 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: