SRG Graphite Inc. Announces Pricing of $8,001,000 Marketed Unit Offering and Concurrent Private Placement of Up to $2,000,000...
02 Mayo 2018 - 10:39AM
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. NEWSWIRE SERVICES
SRG Graphite Inc. (TSXV:SRG) (“SRG” or the
“Company”) is pleased to announce that in connection with its
marketed public offering (the “Offering”) previously announced on
May 1, 2018, it has entered into an underwriting agreement (the
"Underwriting Agreement") with a syndicate of underwriters,
providing for the purchase and sale of 5,334,000 units of the
Company (“Units”) at a price of $1.50 per Unit (the "Offering
Price") for gross proceeds of $8,001,000 (the "Offering"). Each
Unit will be comprised of one common share of the Company (a
"Common Share") and one Common Share purchase warrant of the
Company (a "Warrant"). Each Warrant will entitle the holder thereof
to acquire one additional Common Share (each a "Warrant Share") at
an exercise price of $2.30 per Common Share at any time for a
period of 12 months following the closing date of the Offering.
The Offering is being conducted through a
syndicate of underwriters co-led by National Bank Financial Inc.
and TD Securities Inc. and including Macquarie Capital Markets
Canada Ltd., Beacon Securities Limited and Clarksons Platou
Securities AS (collectively, the “Underwriters”).
The Company has granted the Underwriters an
over-allotment option to purchase up to a number of additional
Units and/or Warrants equal to 15% of the Units sold pursuant to
the Offering, exercisable in whole or in part at any time up to 30
days after and including the closing date of the Offering, which
may be exercised for Units, Warrants or a combination thereof.
In addition, the Company intends to complete a
concurrent non-brokered private placement with Coris Capital SA
(“Coris”). Coris has a pre-emptive right to maintain its pro rata
ownership of the Company in connection with the Offering and has
confirmed its intention to the Company to exercise such right by
way of a non-brokered private placement of units (the "Concurrent
Private Placement"), up to a maximum of 1,333,333 Private Placement
Units. The units issuable pursuant to the Concurrent Private
Placement will be on the same terms and conditions as those
issuable pursuant to the Offering. The units issuable pursuant to
the Concurrent Private Placement will be subject to a statutory
four month hold period in accordance with applicable securities
laws. The closing of the Offering will be conditional upon the
closing of the Concurrent Private Placement.
The Company intends to use the proceeds from the
Offering and Concurrent Private Placement for advancement of the
Company’s Lola Graphite project, including, in the near term, to
further regional exploration and infill resource drilling and to
progress towards a feasibility study; for continued exploration of
its Gogota Cobalt-Nickel-Scandium project; and for general working
capital purposes.
“This financing will provide the financial
resources necessary to move forward with the development plan of
the Company’s two deposits; the Lola graphite deposit and the
Gogota nickel-cobalt-scandium deposit,” said Ugo Landry-Tolszczuk,
President & COO.
“We are very thankful to Mr. Nassa and his team
at Coris Capital who continue to be great supporters of the Company
as we move to the next stage of development,” said Benoit La Salle,
Executive Chairman.
SRG will file today an amended and restated
preliminary short form prospectus (the “Amended Preliminary
Prospectus”) containing important information relating to the
Offering in each of the Provinces of Canada and the Amended
Preliminary Prospectus will be available on SEDAR at
www.sedar.com.
The Offering and Concurrent Private Placement
are expected to close on or about May 18, 2018 and are subject to
certain conditions including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture
Exchange (the "TSXV"). The closing of the Offering will be
conditional upon the closing of the Concurrent Private
Placement.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will
not be registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
ABOUT SRG
SRG is a Canadian-based company focused on
developing the Lola graphite deposit and the Gogota
cobalt-nickel-scandium deposit located in the Republic of Guinea,
West Africa. SRG is committed to operating in a socially,
environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at
www.srggraphite.com.
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For more information
contact: |
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Ugo
Landry-Tolszczuk |
Benoit La
Salle, FCPA FCA |
Tel: +1 (514)
679-4196 |
Tel: +1 (514)
951-4411 |
Email:
ultolszczuk@srggraphite.com |
Email:
benoit.lasalle@srggraphite.com |
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Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This press release contains "forward-looking
information" within the meaning of Canadian securities legislation.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as “reduce”, “suggest”,
“opportunity”, “demonstrate”, or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would" or "might". Forward-looking information is subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to: (i) inability to satisfy conditions of the
Offering; (ii) Coris will complete the Private Placement; (iii) the
Offering may not be completed on the terms and timeline indicated,
or at all; (iv) the Company’s use of proceeds of the Offering may
differ from those indicated; (v) volatile stock price; (vi) the
general global markets and economic conditions; (vii) the
possibility of write-downs and impairments; (viii) the risk
associated with exploration, development and operations of mineral
deposits; (ix) the risk associated with establishing title to
mineral properties and assets; (x) fluctuations in commodity prices
and other risks and factors described or referred to in the
sections entitled "Risk Factors" in the Annual Information Form of
the Company and the Amended Preliminary Prospectus which will be
available at www.sedar.com, all of which should be reviewed in
conjunction with the information found in this news release.
Forward-looking information is based on
assumptions management believes to be reasonable at the time such
statements are made, including but not limited to, continued
exploration activities and no material adverse change in mineral
prices. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Such
forward-looking information has been provided for the purpose of
assisting investors in understanding the Company's business,
operations and exploration plans and may not be appropriate for
other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and the
Company does not undertake to update such forward-looking
information except in accordance with applicable securities
laws.
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