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"


Silver Storm Announces La Estrella Zone Drill Results

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR),... READ MORE

May 7, 2024

West Red Lake Gold Intersects 21.33 g/t Au over 3.1m and 6.75 g/t Au over 9m at South Austin Zone – Madsen Mine

West Red Lake Gold Mines Ltd. (TSX-V: WRLG) (OTCQB: WRLGF) is ple... READ MORE

May 7, 2024

NioBay Confirms Phosphate in Historic Vior Drill Holes on Foothills Property

NioBay Metals Inc. (TSX-V: NBY) (OTCQB: NBYCF) is proud to announ... READ MORE

May 7, 2024

Radisson Intersects 9.70 g/t Gold Over 4.00 Metres and Adds Second Drill Rig at the O’Brien Gold Project in Quebec

Radisson Mining Resources Inc. (TSX-V: RDS) (OTCQB: RMRDF) is ple... READ MORE

May 7, 2024

Stallion Uranium Intersects Significant Conductive Structure

Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) (FSE: HM40) i... READ MORE

May 7, 2024

Copyright 2024 The Prospector News