SRG:CC - SRG Terminates Proposed Transactions with C-ONE
(TheNewswire)
Montreal, Quebec / TheNewswire / March 5, 2024 - SRG MiningInc. (TSXV:SRG) (“ SRG ” or the“ Company ” ) today announced the strategic decision to terminate theagreements and non-binding term sheet with Carbon ONE New Energy GroupCo., Ltd. (“ C-ONE ”), initially announced on July 10th,2023, and November 24th, 2023, respectively.
"The conclusion to discontinue our transactionswith C-ONE, though challenging, was made with a clear focus onsafeguarding and advancing the interests of our shareholders andstakeholders," said Matthieu Bos, SRG President and ChiefExecutive Officer. "We remain financially strong and are resolvedto use our strengths to build SRG into a leading producer of anodematerials."
About SRG Mining
SRG Mining 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. SRG aims to develop a fully integrated source of batteryanode material to supply the European lithium-ion and fuel cellmarkets. 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. SRG is committed togenerating sustainable, long-term benefits that are shared with thehost countries and communities where it operates.
For additional information, please visit SRG’swebsite at www.srgmining.com .
Contact :
Matthieu Bos Matt Johnston
President & CEO CorporateDevelopment Advisor
Email: m.bos@srgmining.com Email: m.johnston@srgmining.com
Telephone: +1(604) 443-3835
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“safeguard”, “advance”, “remain”, “build”,“leading”, “ “poised” and committed “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 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, geopolitical and economic conditions; (iii) the possibilityof write-downs and impairments; (iv) the risk associated withexploration, development and operations of mineral deposits and mineplans for the Company’s mining operations; (v)the risk associated with establishing title to mineral properties andassets including permitting, development, operations and productionfrom the Company’s operations being consistent with expectations andprojections; (vi) fluctuations in commodity prices, finding offtaketakers and potential clients or enforcing such agreements againstsame; (vii) the Company may not be able to obtain the requiredapproval for the UAE Redomiciliation from shareholders, the TSXV orthe ADGM Registration Authority in a timely manner, or at all; and(viii) other risks and factors described or referred to in the sectionentitled "Risk Factors" in the MD&A of the Company andwhich is available at www.sedar.com, all of which should be reviewedin conjunction with the information found in this news release.
Although the Company has attempted to identifyimportant factors that could cause actual results to differ materiallyfrom those contained in the forward-looking information, there may beother factors that cause results not to be as anticipated, estimatedor intended. There can be no assurance that such forward-lookinginformation will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in suchforward-looking information. Such forward-looking information has beenprovided for the purpose of assisting investors in understanding theCompany's business, operations and exploration plans and may not beappropriate for other purposes. Accordingly, readers should not placeundue reliance on forward-looking information. Forward-lookinginformation is given as of the date of this press release, and theCompany does not undertake to update such forward-looking informationexcept in accordance with applicable securities laws.
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