Srg Mining Inc. Announces Closing of Fully Subscribed CAD$1,000,000 Equity Financing
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SRG Mining Inc.
1320 Graham, Suite 132
Ville Mont-Royal, Québec
H3P 3C8
PRESS RELEASE FOR IMMEDIATE RELEASE
SRG MINING INC. ANNOUNCES CLOSING OF FULLY SUBSCRIBED
CAD$1,000,000 EQUITY FINANCING
Montreal, Quebec, July 2, 2020 - SRG Mining Inc. (TSXV: SRG) (“SRG” or the “Company) is
pleased to announce the closing of a non-brokered private placement (the “Private Placement”). The
Company has issued a total of 2,000,000 units (the “Units”) of SRG at a price of $0.50 per U nit for
gross proceeds of CAD$1,000,000.
“During these unique and unprecedented financial times caused by the ongoing COVID-19 pandemic,
the Company decided to capitalize on strong market support to strengthen its financial position to
help it advance its Lola graphite project” declared Benoit La Salle, Executive Chairman of the
Company.
Each Unit is comprised of one common share of the Company (a “Share”) and one non -transferable
share purchase warrant. Each whole warrant (a “Warrant”) will entitle the holders to purchase for a
period of 36 months from the date of closing (the “Expiry Date”), one additional common share of the
Company (a “Warrant Share”) at an exercise price of $1.00 per Warrant Share.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all
necessary approvals, including the final approval of the TSX Venture Exchange. All securities issuable
pursuant to the Private Placement are subject to a four month hold period from the date of issuance
in accordance with applicable Canadian securities laws.
Finders’ fees of 6% of units raised totalling 6 0,000 shares were issued to certain finders. No
commissions are payable. Net proceeds from the Private Placement will be used to continue the
development of the Lola graphite project and general working capital requirements.
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.
Contact :
Benoit La Salle, FCPA FCA
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Email: [email protected]
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 “firm”, “anticipated”, “potential”, “will”, “continue”,
“demonstrate”, “deliver”, “believe”, or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would" or "might". 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 and mine plans for the Company’s mining operations; (v) the risk associated with
establishing title to mineral properties and assets including permitting, development, operations and
production from the Company’s operations being consistent with expectations and projections; (vi)
fluctuations in commodity prices, finding offtake takers and potential clients or enforcing such
agreements against same 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.
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.