The Prospector News

SRG Mining Announces Closing of CAD$1,947,000 Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

SRG Mining Announces Closing of CAD$1,947,000 Private Placement






SRG Mining Inc. (TSX-V: SRG) is pleased to announce the closing of the first tranche of a non-brokered private placement.  The Company has issued a total of 3,894,000 units of SRG at a price of $0.50 per Unit for gross proceeds of CAD$1,947,000.


Based on current market demand and ongoing discussions with investors, the Company expects to close on a second tranche of the Private Placement, in an amount to be determined, within the next 30 days.


Each Unit is comprised of one common share of the Company and one non‑transferable share purchase warrant.  Each whole warrant will entitle the holders to purchase for a period of 36 months from the date of closing, one additional common share of the Company at an exercise price of $1.00 per Warrant Share.


The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange.  All securities issuable pursuant to the Private Placement are subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.


Finders’ fees of 7% in cash and 7% in warrants, or the equivalent combination thereof, will be payable to certain finders.  No commissions are payable. Net proceeds from the Private Placement will be used to continue the development of the Lola graphite project and general working capital requirements.




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.


Posted March 5, 2020

Share this news article


Rock Tech Lithium Announces Assay Results from Ongoing Drill Program at Georgia Lake

Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (W... READ MORE

July 4, 2022

NioCorp Announces Closing of Up-Sized Private Placement for Gross Proceeds of C$4.8 Million

NioCorp Developments Ltd. (TSX: NB) (OTCQX: NIOBF) is pleased to... READ MORE

July 4, 2022

Galantas Gold Announces Exercise of Warrants

Galantas Gold Corporation (TSX-V:GAL ) (AIM: GAL) (OTCQX: GALKF) ... READ MORE

July 4, 2022

Mayfair Gold Closes Flow-Through Financing

Mayfair Gold Corp. (TSX-V: MFG) (OTCQX: MFGCF) today announced th... READ MORE

July 4, 2022

Montage Closes $20 Million Private Placement of Subscription Receipts

Montage Gold Corp.  (TSX-V: MAU) is pleased to announce the clos... READ MORE

June 30, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News