SRG MINING ANNOUNCES CLOSING OF FIRST TRANCHE UNDER THE SPROTT CONVERTIBLE FINANCING IN SUPPORT OF ITS NAL BID
26 Marzo 2021 - 10:15AM
Montreal, Quebec March 26, 2021 - SRG Mining Inc. (TSXV:
SRG) (“
SRG” or the “
Company”) announced today that
further to its press release dated January 26, 2021 announcing
the private placement in the form of a convertible debt
financing for USD$7.5M (approximately CAD$9.53M) (the
“
Financing”) with Sprott Private Resource Lending II
(Collector), LP (“
Sprott”), the parties have fully closed
the first tranche on January 26, 2021 for USD$800,000 (the
“
First Tranche”).
While the parties advance the finalization of the definitive
convertible credit agreement for the total Financing which is
expected in the coming weeks, they intend to amend the maturity
date for the First Tranche, which was set to April 2, 2021 to July
31, 2022, all subject to the approval of TSX Venture Exchange.
The Company had entered into the Financing in support of its bid
for the North American Lithium Inc. (“NAL”) assets pursuant
to the procedures of the Sale and Investor Solicitation Process
relating to NAL.
About SRG Mining
SRG Mining is a Canadian-based mining company focused on
developing the Lola graphite 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.srgmining.com.
Contact :
Benoit La Salle, FCPA FCA
Email: benoit.lasalle@srgmining.com
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 “firm”, “anticipated”,
“potential”, “will”, “continue”, “demonstrate”, “deliver”,
“believe”, 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) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of
write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits and
mine plans for the Company’s mining operations; (v) the risk
associated with establishing title to mineral properties and assets
including permitting, development, operations and production from
the Company’s operations being consistent with expectations and
projections; (vi) fluctuations in commodity prices, finding offtake
takers and potential clients or enforcing such agreements against
same and other risks and factors described or referred to in the
section entitled "Risk Factors" in the MD&A of the Company and
which is available at www.sedar.com, all of which should be
reviewed in conjunction with the information found in this news
release.
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.
Ugo Landry-Tolszczuk
SRG Mining
ugo.landry.tolszczuk@srgmining.com
SRG Mining (TSXV:SRG)
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