Le Caudan Waterfront Port Louis EARLY WARNING
CORIS CAPITAL SA
5th Floor
Barkly Warf
Le Caudan Waterfront
Port Louis
EARLY WARNING NEWS RELEASE
November 24, 2017 – CORIS CAPITAL SA (“CORIS” or the “ Company”) has filed an early
warning report (the “ Report”) announcing that it has exercised 2,625,000 share purchase
warrants at the price of $0.50 per warrant share (the “Warrants”) acquiring beneficial ownership
of, or control and direction over an additional 2,625,000 common shares. (the “ Shares”) (the
“Transaction”). The Warrants were acquired by way of a private placement whereby the Coris
acquired the beneficial ownership of, or control and direction over 7,500,000 Units of the Issuer
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 with each whole warrant entitling the holder to
purchase one common share under the terms of a subscription agreement for an aggregate
purchase price of $0.40. Each Warrant entitled the Coris to acquire one common share a t a
purchase price of $0.50 for a period of 24 months following the closin g date of the private
placement (the “Purchased Securities”).
Immediately prior to the Transaction, CORIS owned beneficial ownership of, or control and
direction over (i) 7,500,000 common shares of the Issuer, representing approximately 12.83%
of the Issuer’s issued and outstanding common shares; and (ii) 3,750,000 Warrants. Assuming
the exercise of the 3,750,000 Warrants, the Coris would own 11,250,000 common shares of
the Issuer, r epresenting approximately 18.09% of the Issuer’s common shares that would be
issued and outstanding.
Immediately following the Transaction, CORIS owns, beneficial ownership of, or control and
direction over (i) 7,500,000 common shares of the Issuer, repres enting approximately 13.40%
of SRG’s issued and outstanding common shares; and (ii) 3,750,000 Warrants. Assuming the
exercise of the 3,750,000 Warrants, CORIS would own 11,250,000 common shares of SRG,
representing approximately 18.10% of SRG’s common shar es that would be issued and
outstanding.
CORIS acquired the Purchased Securities described herein for investment purposes. In
accordance with applicable securities laws, CORIS may, from time to time and at any time,
acquire additional shares and/or other equity, debt or other securities or instruments
(collectively, “Securities”) of SRG in the open market or otherwise, and reserves the right to
dispose of any or all of its Securities in the open market or otherwise at any time and from time
to time, and to engage in similar transactions with respect to the Securities, the whole
depending on market conditions, the business and prospects of SRG
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CORIS is relying on the private agreement exemption in Section 4.2 of the National Instrument
62-104 Take-Over Bids and Issuer Bids with respect to the Transaction.
A copy of the Report filed by CORIS in connection with the Transactiion described above will be
available on SEDAR under SRG’s profile . This news release is issued under the early warning
provisions of the Canadian securities legislation.
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) and Coris Bourse and Coris Asset
Management. Its activities are focused mainly in West Africa.
“Idrissa Nassa”
CORIS CAPITAL SA