Business
SRG Mining Sells 60% of Its Future Graphite Production via Off-take Agreements
MONTREAL, Jan. 14, 2020 /CNW Telbec/ - SRG Mining Inc. (TSXV: SRG) ("SRG" or the "Company") today provides an update on recent activities related to its Lola gr
About this update from Falcon Energy Materials Plc
[{"type":"text","content":" MONTREAL, Jan. 14, 2020 /CNW Telbec/ - SRG Mining Inc. (TSXV: SRG) (\"SRG\" or the \"Company\") today provides an update on recent activities related to its Lola graphite project (the \"Project\"). After two years of work on sales agreements, the Company has signed four, three-year firm off-take agreements for a total of 89,000t over that period. These agreements represent approximately 60% of the Company's anticipated production over that period. Our clients operate in various markets including refractories, expandable graphite and battery anode material. We remain actively engaged with several potential clients to continue to sign off-take agreements for our graphite production. Our efforts in continuously producing graphite from our lab in Guinea and producing a bulk sample is in line with these efforts to secure sales. The Company continues to believe in signing sales agreements for the anticipated production and having many potential clients test and qualify our material. These efforts will remain ongoing throughout the life of the Project. \"These off-take agreements demonstrate the marketability of our graphite flake products and our clients' trust in the Company's ability to deliver quality product in a timely manner. We are diligently proceeding towards achieving our ultimate goal of building a mine and concentrator capable of producing 54,000tpa of high-quality graphite flakes, in best possible timeframe, and in the best interest of all our stakeholders,\" said Ugo Landry-Tolszczuk, President and COO of SRG Mining. SRG Retains Hybrid Financial Ltd. for Investor Relations Activities The Company has, subject to regulatory approval, retained the services of Hybrid Financial Ltd. (\"Hybrid\") for strategic investor relations initiatives. The initiatives will include marketing, distribution and branding services for the Company with a specific focus on elevating the Company's profile via investment advisers in Canada and United States. The agreement will commence on January 9th for an initial term of four months, following which the agreement may be renewed by the Company on terms of three months. The agreement is subject to the approval of the TSX Venture Exchange. Hybrid Financial Inc. does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acqui...