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SRG Graphite Inc. Announces Closing of $8,001,000 Marketed Unit Offering and Concurrent Private Placement of $2,000,000
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES MONTREAL, May 18, 2018 (GLOBE NEWSWIRE) -- SRG Graphite Inc. (TSXV:SRG)
About this update from Falcon Energy Materials Plc
[{"type":"text","content":" NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES MONTREAL, May 18, 2018 (GLOBE NEWSWIRE) -- SRG Graphite Inc. (TSXV:SRG) (“SRG” or the “Company”) is pleased to announce that it has closed its marketed public offering (the “Offering”) through a syndicate of underwriters co-led by National Bank Financial Inc. and TD Securities Inc. and including Macquarie Capital Markets Canada Ltd., Beacon Securities Limited and Clarksons Platou Securities AS (collectively, the “Underwriters”). In connection with the closing of the Offering, the Company issued 5,334,000 units of the Company (“Units”) at a price of $1.50 per Unit for gross proceeds of $8,001,000. Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Common Share (each a “Warrant Share”) at an exercise price of $2.30 per Common Share at any time for a period of 12 months from today. In connection with the Offering, the Company paid to the Underwriters a cash fee of $480,060 and issued 320,040 broker warrants to the Underwriters, each such broker warrant entitling the holder thereof to acquire one Common Share at an exercise price of $1.50 for a period of 12 months from today. The Company has granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units sold pursuant to the Offering, exercisable in whole or in part at any time for a period of 30 days from today. The over-allotment option may be exercised for Units, Warrants or a combination thereof. In addition, the Company has completed its previously announced concurrent non-brokered private placement (the “Concurrent Private Placement”) with Coris Capital SA (“Coris”) pursuant to which Coris subscribed for 1,333,333 units (the “Private Placement Units”), which were issued on the same terms and conditions as those issued pursuant to the Offering. The Private Placement Units are subject to a statutory four month hold period in accordance with applicable securities laws. The Company intends to use the proceeds from the Offering and the Concurrent Private Placement for advancement of the Company’s Lola graphite project, including, in the near term, to further regional exploration and infill resourc...