Coris Exercises 1,125,000 SRG Share Purchase Warrants
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.
Ugo Landry-Tolszczuk, Email: [email protected]; Benoit La Salle, FCPA FCA, Email: [email protected]
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