SRG:CC - Redomiciliation To United Arab Emirates Completed - Falcon Energy Materials Announces Name Change Strategic Partnership and Financing Discussions Progressing.
(TheNewswire)
Abu Dhabi, United Arab Emirates – TheNewswire - July 2, 2024 – Falcon Energy Materialsplc (TSXV: SRG) , formerlySRG Mining Inc. (“ Falcon ” or the “ Company ” ), is pleasedto announce the completion of its redomiciliation to the jurisdictionof the Abu Dhabi Global Market (the “ ADGM ”) in theUnited Arab Emirates (the “ UAE Redomiciliation ”). The UAERedomiciliation will provide the Company with expanded strategicoptions as it advances its partnership discussions. Additionally, theUnited Arab Emirates (“ UAE ”) has double taxation and bilateralinvestment treaties with the Republic of Guinea, where Falcon’sprimary asset, the Lola Graphite Project, is located.
The proposal to continue the Company out of the federaljurisdiction of Canada under the Canada Business CorporationsAct and into the jurisdiction of the ADGM alongwith the adoption of new articles of continuance, as detailed in theCompany’s information circular and proxy statement dated April 15,2024, was approved by approximately 93% of the Company’sshareholders who voted in person or by proxy at the Company’s annualand special meeting of shareholders held on May 17, 2024. The TSXVenture Exchange (“ TSXV ”) has conditionally approved the UAE Redomiciliation.
Matthieu Bos, Chief Executive Officer of Falcon,commented, “With the redomiciliation to Abu Dhabi, we have created aunique platform with a domiciliation in the UAE and a listing on theTSX Venture Exchange. Falcon Energy Materials aims to become a UAEchampion, delivering key energy materials at a competitive cost totransition to a carbon-neutral world economy”.
“The falcon is a significant symbol in UAE culture,admired for its strength, courage, and vision. The region’s economicgrowth and macroeconomic stability, despite global market challenges,make Abu Dhabi a unique place to grow Falcon Energy Materials. Wewould like to thank the ADGM, the TSX Venture Exchange and ouradvisors who have facilitated this redomiciliation,” added Mr.Bos.
In parallel with the UAE Redomiciliation, the Companyis pleased to announce its name change from SRG Mining Inc. to FalconEnergy Materials plc (the “ Name Change ”).
There is no consolidation of the Company’s sharecapital in connection with the Name Change. As a result, shareholdersare not required to exchange their existing share certificates for newcertificates bearing the Company’s new name. The Name Change doesnot affect the Company’s share structure and no further action isrequired by existing shareholders. The TSXV hasconditionally approved the Name Change.
The Company’s shares will continue to trade on theTSXV under the stock symbol “SRG” and the Company will continue tobe subject to the rules and policies of the TSXV. Trading of theCompany’s shares as a public company limited by shares under thelaws of the ADGM and under its new name and new stock symbol willcommence at market open on the date specified in the TSXV bulletinthat will be issued in connection with the UAE Redomiciliation andName Change.
Strategic Partnership and FinancingDiscussions Progressing
The Company is also pleased to announce progress instrategic partnership and financing discussions. Several strategicpartners have expressed interest in becoming Tier One suppliers to theWestern battery end markets. The Company is currently evaluatingvarious strategic options.
Concurrently, discussions with multiple high-quality parties interested in providingfinancing to advance Falcon towards first production are progressing.The Company is seeking both debt and equity financing to fund theconstruction of the first phase of the Lola Graphite Project, and theanode material plant to produce coated sphericalpurified graphite.
Falcon will provide further updatesonly if a specific transaction or process is concluded, or if furtherdisclosure is required under applicable laws or deemed appropriate.There can be no assurance that the Company will pursue any transactionor that a transaction, if pursued, will be completed.
About Falcon
Falcon is focused on developing the Lola GraphiteProject located in the Republic of Guinea, West Africa. The LolaGraphite Project has Proven and Probable Reserves of 42Mt at a gradeof 4.2% Cg. Falcon aims to develop a fully integrated source ofbattery anode material to supply the European lithium-ion and fuelcell markets. With attractive operating costs, proximity to Europeanend-markets and strong ESG credentials, the Company is poised tobecome a reliable supplier while promoting sustainability and supplychain transparency. Falcon is committed togenerating sustainable, long-term benefits that are shared with thehost countries and communities where it operates.
For additional information, please visit Falcon’swebsite at www.falconem. net .
Contact:
Matthieu Bos Matt Johnston
President & CEO Corporate DevelopmentAdvisor
Email: m.bos@falconem.net Email: m.johnston@falconem.net
New Corporate Offices :
Falcon Energy Materials plc
Level 7, Al Maryah Tower
Al Maryah Island, Abu Dhabi
United Arab Emirates
Neither the TSXV nor its RegulationServices Provider (as that term is defined in the policies of theTSXV) accepts responsibility for the adequacy or accuracy of thisrelease.
This press releasecontains forward-looking information or forward-looking statementswithin the meaning of applicable securities laws. Generally, suchforward-looking information can be identified by the use offorward-looking terminology such as “advance”, “provide”,“interest”, “anticipated”, “progress”, “result”,“confirm”, “target”, “increase”, “expect”,“scheduled”, “enable”, “projected”, “drive”, “aim”, “realise”, “growth”,“goals”, “continue”, “advance”, “potential”,“will”, “demonstrate”, “deliver”, “believe”, orvariations of such words and phrases or state that certain actions,events or results “may”, “could”, “would” or “might”.Forward-looking statements are included to provide information aboutmanagement’s current expectations and plans that allows investorsand others to have a better understanding of the Company’s businessplans and financial performance and condition.
All statements, other than statements of historicalfact included in this press release, regarding the Company’sstrategy, future operations, prospects, plans and objectives ofmanagement are forward-looking statements.
Forward-looking information and forward-lookingstatements are based upon certain assumptions and other importantfactors that, if untrue, could cause the actual results, performanceor achievements of the Company to be materially different from futureresults, performance or achievements expressed or implied by suchinformation or statements. There can be no assurance that suchinformation or statements will prove to be accurate. Key assumptionsupon which the Company’s forward-looking information andforward-looking statements are based include the Company’sexpectation that it will be able to obtain final approval of the TSXVin respect of the UAE Redomiciliation and the Name Change and that itwill benefit from the UAE Redomiciliation and the Name Change in theways set forth herein.
Readers are cautioned that the foregoing list is notexhaustive of all factors and assumptions which may have been used.Forward-looking information and forward-looking statements are alsosubject to risks and uncertainties facing the Company’s business,any of which could have a material adverse effect on the Company’sbusiness. Readers are directed to carefully review the detaileddiscussion contained in the section entitled “Risk andUncertainties” in the Company’s MD&A for the year endedDecember 31, 2023, as updated by the Company’s MD&A for thequarter ended March 31, 2024, each of which is filed on SEDAR+ at www.sedarplus.ca , for a fullerunderstanding of the risks and uncertainties that affect theCompany’s business and operations.
Although the Company believes its expectations arebased upon reasonable assumptions and has attempted to identifyimportant factors that could cause actual actions, events or resultsto differ materially from those described in forward-lookinginformation or forward-looking statements, there may be other factorsthat cause actions, events or results not to be as anticipated,estimated or intended. There can be no assurance that forward-lookinginformation or forward-looking statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such forward-looking information or forward-lookingstatements. As such, these risks are not exhaustive; however, theyshould be considered carefully. If any of these risks or uncertaintiesmaterialize, actual results may vary materially from those anticipatedin the forward-looking information and forward-looking statementsfound herein. Due to the risks, uncertainties and assumptions inherentin forward-looking information and forward-looking statements, readersshould not place undue reliance on forward-looking information andforward-looking statements.
Forward-looking information and forward-lookingstatements contained herein are presented for the purpose of assistinginvestors in understanding the Company’s rationale behind itsstrategy, business, operations and exploration plans, and may not beappropriate for other purposes. The assumptions referred to aboveshould be considered carefully by readers.
Forward-looking information and forward-lookingstatements and are given as of the date of this press release. TheCompany disclaims any intention or obligation to update or revise anyforward-looking information or forward-looking statements, whether asa result of new information, future events or otherwise, except to theextent required by applicable law. The Company qualifies all of itsforward-looking information and forward-looking statements by thesecautionary statements.
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