The Prospector News

SRG Mining Announces Closing of Fully Subscribed CAD$4,800,000 Equity Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

SRG Mining Announces Closing of Fully Subscribed CAD$4,800,000 Equity Financing

 

 

 

 

 

SRG Mining Inc. (TSX-V: SRG) (OTC-GY: SRGMF) is pleased to announce the closing of a non-brokered private placement.  The Company has issued a total of 9,600,000 units of SRG at a price of $0.50 per Unit for gross proceeds of CAD$4,800,000.

Each Unit is comprised of one common share of the Company and one half of one non transferable share purchase warrant.  Each whole warrant will entitle the holders to purchase for a period of 24 months from the date of closing, one additional common share of the Company at an exercise price of $0.75 per Warrant Share.

The Offering was primarily comprised of at least two European businesspersons, Messrs. Eric Swenden and Christian Dumolin, through their related entities,” said Benoit La Salle, Executive Chairman of the Board. “Our new shareholders have strong business relationships in Europe, across the Atlantic and around the globe. With their support and these additional financial resources, we believe that the Company is better positioned than ever to advance on the development of its Lola Project.

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.

There are no finders’ fees or commissions payable. Net proceeds from the Private Placement will be used to continue the development of the Lola graphite project and general working capital requirements.

About SRG Mining

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 November 5, 2021

Share this news article

MORE or "UNCATEGORIZED"


GR Silver Mining Extends Silver Mineralization with Step-Out Drilling at San Marcial 11.9 m @ 226 g/t Ag Eq* including 0.9m @ 716 g/t Ag Eq

GR Silver Mining Ltd. (TSX-V: GRSL) (OTCQB: GRSLF) (FRANKFURT: G... READ MORE

July 25, 2025

Big Ridge Gold Corp. Closes Upsized $5.2 Million Private Placement

Big Ridge Gold Corp. (TSX-V: BRAU) (OTCQB: ALVLF) is pleased to a... READ MORE

July 25, 2025

St. Augustine Closes Private Placement

St. Augustine Gold and Copper Limited (TSX: SAU) is pleased to announce ... READ MORE

July 25, 2025

GoldShore Intersects Additional Mineralization Beneath the Conceptual Open Pit at the Southwest Zone with 22m of 1.30 g/t Au

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

July 25, 2025

Benz Announces Closing Final Tranche of A$13.5M Financing

Benz Mining Corp. (TSX-V: BZ) (ASX: BNZ) is pleased to advise tha... READ MORE

July 25, 2025

Copyright 2025 The Prospector News