MONTREAL, Oct. 29, 2019 /CNW Telbec/ - SRG Mining
Inc. (TSXV: SRG) ("SRG" or the "Company") today announced
that Coris Capital SA ("Coris") has filed an early warning report
(the "Report") regarding the exercise of 1,125,000 share purchase
warrants at a price of $0.50 per
warrant share (the "Warrants"), thereby securing beneficial
ownership of, or control and direction over an additional 1,125,000
common shares (the "Transaction").
Mr. Abdoul Aziz Nassa, General Director of Coris, stated "we
strongly believe in the fundamentals of the electrification of
transport system, renewable energy, energy storage and the role of
battery minerals in achieving a cleaner environment. Graphite is an
essential part of batteries which enable these technologies. We
believe the Lola graphite project will be part of this ecosystem
and its management team will lead this project through the final
steps of development and into construction and operations."
"We would like to thank Coris for their continued support and we
look forward to the future of the Lola graphite project and the
Company," said Ugo Landry-Tolszczuk,
President and COO, SRG Mining.
The Warrants were previously issued by way of private placement
at which time Coris acquired the beneficial ownership of, or
control and direction over 7,500,000 share units ("Units") of SRG
at a price of $0.40 per Unit, with
each Unit consisting of one common share and one/half of one
non-transferable share purchase warrant. Each whole warrant
entitled the holder to purchase one common share under the terms of
a subscription agreement for an aggregate purchase price of
$0.40 and each Warrant entitled the
Coris to acquire one common share at a purchase price of
$0.50 for a period of 24 months
following the closing date of the private placement.
Immediately following the Transaction, Coris owns, beneficial
ownership of, or control and direction over (i) 12,583,333 common
shares of the Issuer, representing approximately 17.84% of SRG's
issued and outstanding common shares; and (ii) 1,333,333
Warrants. Assuming the exercise of the 1,333,333 Warrants,
Coris would own 13,916,666 common shares of SRG, representing
approximately 19.36% of SRG's common shares that would be issued
and outstanding.
ABOUT CORIS CAPITAL SA
Coris Capital SA is a Mauritius-based company and a member of the
Coris Group, which is controlled by Mr. Idrissa Nassa and includes
Coris Capital SA and Coris Holdings SA. It has activities and
investments in finance, telecom, mining and in the industrial
sector. Coris Holdings SA is a private company based in
Burkina Faso with investments in
the banking (Coris International Bank), insurance (Coris
Insurance), wealth management (Coris Financial Management) and
industrial sectors (General Mining Logistics). Its activities are
focused mainly in West Africa.
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.
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 ""believe", will", "continue",
"provide", "present", "reasonable", "potential", or variations of
such words and phrases or state that certain actions, events or
results. 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 Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of
write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits; (v)
the risk associated with establishing title to mineral properties
and assets; (vi) fluctuations in commodity prices and other risks
and factors described or referred to in the section entitled "Risk
Factors" in the MD&A of the Company and which is available at
www.sedar.com, all of which should be reviewed in conjunction with
the information found in this news release. Forward-looking
information is based on assumptions management believes to be
reasonable at the time such statements are made. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended.
There can be no assurance that such forward-looking information
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
forward-looking information. Such forward-looking information has
been provided for the purpose of assisting investors in
understanding the Company's business, operations and exploration
plans and may not be appropriate for other purposes. Accordingly,
readers should not place undue reliance on forward-looking
information. Forward-looking information is given as of the date of
this press release, and the Company does not undertake to update
such forward-looking information except in accordance with
applicable securities laws.
SOURCE SRG Mining Inc.
