SRG announces conversion of Sprott convertible debt

0

Montreal, Quebec – TheNewswire – April 25, 2022 – SRG Mines Inc. (TSXV: SRG) (“GIS“or the”Company) today announced that Sprott Private Resource Lending II (Collector), LP (“Sprott“), converted the full principal amount due under the previously announced Sprott Convertible Debt Facility into common stock of the Company (the “Conversion”).

The total principal amount of US$482,371 was converted at the pre-agreed conversion price of CA$0.69 per share. As a result, SRG issued 881,550 ordinary shares (the “Shares”) to Sprott (the “Recipient”). In addition to the Shares, the Company paid the Beneficiary accrued interest in cash and certain expenses. The beneficiary has waived his right to prepayment charges.

The Conversion is an important step for the SSR to simplify its balance sheet, deepen the relationship with a leading financial institution and expand the SSR’s shareholder register. Sprott’s conversion, following recent investment by La Mancha Capital Advisory LLP, is also a strong endorsement of the company’s updated strategy to become a fully integrated mine-to-market supplier of active anode material.

The conversion completed today cements the relationship with Sprott as a dedicated partner providing capital for all phases of SRG’s development. Partners who provide flexible financing solutions are instrumental in the success of SRG and we thank Sprott for their continued support as we move the Lola Graphite project towards production.declared Benoit La Salle, Chairman of the Management Board and Matthieu Bos, Chief Executive Officer.

About SRG Mining

SRG Mining Inc. is a Canada-based mining company focused on the development of the Lola Graphite Project located in the Republic of Guinea, West Africa. The Lola Graphite project has probable reserves of 42Mt at a grade of 4.2% Cg. SRG aims to develop a fully integrated source of battery anode material to supply the European lithium-ion and fuel cell markets. With attractive operating costs, proximity to European end markets and strong ESG credentials, SRG is poised to become a reliable supplier while promoting sustainability and supply chain transparency. SRG is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates.

For more information, please visit the SRG website at www.srgmining.com.

Contact:

SRG Mines Inc.

1320 Graham, suite 132

Town of Mount Royal, Quebec

H3P 3C8

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 laws. Any 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 “simplify”, “deepen”, “become”, “continue”, “advance” or variations of these words and expressions or state that certain actions, events or results “will”, “could”, “could”, “could” or “could” occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) general world markets and economic conditions; (iii) the possibility of impairments and impairments; (iv) the risk associated with the exploration, development and exploitation of mineral deposits and mining plans for the Company’s mining operations; (v) the risk associated with establishing title to mineral properties and assets, including permits, development, operations and production of the Company’s operations, is consistent with expectations and projections; (vi) fluctuations in commodity prices, the search for pick-up takers and potential customers or the enforcement of such agreements against the same and other risks and factors described or referred to in the section entitled “Risk Factors in the Company’s management report, which is available at www. sedar.com, all of which should be considered in conjunction with the information contained in this press 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 those anticipated, estimated or expected. 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. This forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operating 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.

Share.

Comments are closed.