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SRG Mining Inc. Announces Closing of Fully Subscribed CAD$4,800,000 Equity Financing
(TheNewswire) Montreal, Quebec – TheNewswire - November 5, 202...
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"SRG Mining Inc. Announces Closing of Fully Subscribed CAD$4,800,000 Equity Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Montreal, Quebec –\n \n \n TheNewswire -\n \n \n November 5, 2021 - SRG Mining\nInc.\n \n \n (TSXV:SRG) (“\n \n \n SRG\n \n \n ” or the\n“\n \n \n Company\n \n \n )\n \n \n is pleased to announce the closing of\na non-brokered private placement (the “Private Placement”).  The\nCompany has issued a total of 9,600,000 units (the “Units”) of SRG\nat a price of $0.50 per Unit for gross proceeds of\nCAD$4,800,000.\n \n \n \n \n Each Unit is comprised of one common share of the\nCompany (a “Share”) and one half of one non‑transferable share\npurchase warrant.  Each whole warrant (a “Warrant”) will entitle\nthe holders to purchase for a period of 24 months from the date of\nclosing (the “Expiry Date”), one additional common share of the\nCompany (a “Warrant Share”) at an exercise price of $0.75 per\nWarrant Share.\n \n \n \n \n “\n \n \n The\nOffering was primarily comprised of at least two European\nbusinesspersons, Messrs. Eric Swenden and Christian Dumolin, through\ntheir related entities,” said Benoit La Salle, Executive Chairman of\nthe Board. “Our new shareholders have strong business relationships\nin Europe, across the Atlantic and around the globe. With their\nsupport and these additional financial resources, we believe that the\nCompany is better positioned than ever to advance on the development\nof its Lola Project\n \n \n .”\n \n \n \n \n The Private Placement is subject to certain conditions\nincluding, but not limited to, the receipt of all necessary approvals,\nincluding the final approval of the TSX Venture Exchange.  All\nsecurities issuable pursuant to the Private Placement are subject to a\nfour month hold period from the date of issuance in accordance with\napplicable Canadian securities laws.\n \n \n \n \n There are no finders’ fees or commissions payable.\nNet proceeds from the Private Placement will be used to continue the\ndevelopment of the Lola graphite project and general working capital\nrequirements.\n \n \n \n \n About SRG Mining\n \n \n \n \n SRG Mining is a Canadian-based mining company focused\non developi...