Jervois secures US$100 million bond offering to fund Idaho Cobalt Operations
Highlights: Jervois has successfully priced and closed the books on its subsidiary’s offering of senior secured bonds to raise US$100 million, guaranteed by Jervois Proceeds from the bond issue will be used to fund construction of Jervois’ Idaho Cobalt Operations (“ICO”) in the United States (“U.S.”) and bring it into production Jervois expects to commence commercial concentrate production at ICO from mid-2022 The bond issue is repayable in mid-2026 and preserves commercial flexibility through ICO construction by not obliging Jervois to irrevocably commit cobalt supply early Jervois continues to advance funding support discussions with the U.S. Government