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SRG Mining Announces Closing of First Tranche Under the Sprott Convertible Financing in Support of its NAL Bid
Montreal, Quebec March 26, 2021 - SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) announced today that further to its press release dated January 26, 2021
About this update from Falcon Energy Materials Plc
[{"type":"text","content":" Montreal, Quebec March 26, 2021 - SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company”) announced today that further to its press release dated January 26, 2021 announcing the private placement in the form of a convertible debt financing for USD$7.5M (approximately CAD$9.53M) (the “Financing”) with Sprott Private Resource Lending II (Collector), LP (“Sprott”), the parties have fully closed the first tranche on January 26, 2021 for USD$800,000 (the “First Tranche”). While the parties advance the finalization of the definitive convertible credit agreement for the total Financing which is expected in the coming weeks, they intend to amend the maturity date for the First Tranche, which was set to April 2, 2021 to July 31, 2022, all subject to the approval of TSX Venture Exchange. The Company had entered into the Financing in support of its bid for the North American Lithium Inc. (“NAL”) assets pursuant to the procedures of the Sale and Investor Solicitation Process relating to NAL. 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. For additional information, please visit SRG’s website at www.srgmining.com. Contact : Benoit La Salle, FCPA FCA Email: [email protected] 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 legislation. All 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 “firm”, “anticipated”, “potential”, “will”, “continue”, “demonstrate”, “deliver”, “believe”, or variations of such words and phrases or state that certain actions, events or results \"may\", \"could\", \"would\" or \"might\". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the...