SRG:CC - SRG Announces Conversion of Sprott Convertible Debt
(TheNewswire)
Montreal, Quebec - TheNewswire - April 25, 2022 - SRG MiningInc. (TSXV:SRG) (“ SRG ” or the“ Company ” ) announced today that Sprott Private Resource Lending II(Collector), LP (“ Sprott ”), has converted the full outstandingamount of capital owed under the previously announced Sprottconvertible debt facility to common shares of the Company (the“ Conversion ”).
The total principal amount of US$482,371 has beenconverted at the pre-agreed conversion price of C$0.69 per share. As aresult, SRG has issued 881,550 common shares (the “ Shares ”) to Sprott(the “ Recipient ”). In addition to the Shares, the Company has paid theRecipient in cash accrued interest and certain expenses. The Recipienthas waived its entitlement to an early pre-payment fee.
The Conversion is an important step by SRG to simplifyits balance sheet, deepen the relationship with a leading financialinstitution and broaden the SRG shareholder register. The Conversionby Sprott, following the recent investment by La Mancha CapitalAdvisory LLP, is also a strong endorsement of the Company’s updatedstrategy to become a fully integrated mine-to-market supplier ofactive anode material.
“ Theconversion completed today cements the relationship with Sprott as adedicated partner that provides capital through all phases of SRG’sdevelopment. Partners that provide flexible financing solutions areinstrumental the success of SRG and we thank Sprott for theircontinued support as we advance the Lola Graphite Project towardsproduction ,” said Benoit La Salle, Chairman ofthe Board and Matthieu Bos, Chief Executive Officer.
About SRG Mining
SRG Mining Inc. is a Canadian-based mining companyfocused on developing the Lola Graphite Project located in theRepublic of Guinea, West Africa. The Lola Graphite Project hasProbable Reserves of 42Mt at a grade of 4.2% Cg. SRG aims to develop afully integrated source of battery anode material to supply theEuropean lithium-ion and fuel cell markets. With attractive operatingcosts, proximity to European end-markets and strong ESG credentials,SRG is poised to become a reliable supplier while promotingsustainability and supply chain transparency. SRG is committed to generating sustainable, long-term benefits thatare shared with the host countries and communities where itoperates.
For additional information, please visit SRG’swebsite at www.srgmining.com .
Contact:
| Matthieu Bos |
| President & CEO SRG Mining Inc. |
| Email: m.bos@srgmining.com |
SRG Mining Inc.
1320 Graham, Suite 132
Ville Mont-Royal, Québec
H3P 3C8
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” within the meaning ofCanadian securities legislation. All information contained herein thatis not clearly historical in nature may constitute forward-lookinginformation. Generally, such forward-looking information can beidentified by the use of forward-looking terminology such as,“simplify”, “deepen”, “become”, “continue”,“advance”, or variations of such words and phrases or state thatcertain actions, events or results “will”, “may”, “could”,“would” or “might” occur. Forward-looking information issubject to known and unknown risks, uncertainties and other factorsthat may cause the actual results, level of activity, performance orachievements of the Company to be materially different from thoseexpressed or implied by such forward-looking information, includingbut not limited to: (i) volatile stock price; (ii) the general globalmarkets and economic conditions; (iii) the possibility of write-downsand impairments; (iv) the risk associated with exploration,development and operations of mineral deposits and mine plans for theCompany’s mining operations; (v) the risk associated withestablishing title to mineral properties and assets includingpermitting, development, operations and production from theCompany’s operations being consistent with expectations andprojections; (vi) fluctuations in commodity prices, finding offtaketakers and potential clients or enforcing such agreements against sameand other risks and factors described or referred to in the sectionentitled “Risk Factors” in the MD&A of the Company and whichis available at www.sedar.com, all of which should be reviewed inconjunction with the information found in this news release. Althoughthe Company has attempted to identify important factors that couldcause actual results to differ materially from those contained in theforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such forward-looking information will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such forward-looking information. Suchforward-looking information has been provided for the purpose ofassisting investors in understanding the Company’s business,operations and exploration plans and may not be appropriate for otherpurposes. Accordingly, readers should not place undue reliance onforward-looking information. Forward-looking information is given asof the date of this press release, and the Company does not undertaketo update such forward-looking information except in accordance withapplicable securities laws.
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