SRHI Inc. Receives Extension of Listing Review by TSX
SRHI Inc. Receives Extension of Listing Review by TSX
TORONTO, September 3, 2020 – SRHI Inc. (“ SRHI” or the “ Company”) (TSX: SRHI; SRHI.WT)
announces that the Toronto Stock Exchange (the “ TSX”) has notified the Company that it is
extending the review period by 60 days for the eligibility of the Company’s securities for
continued listing on the TSX pursuant to the requirements of the TSX Company Manual (the
“Manual”). On May 13, 2020, the Company announced that the TSX had notified the Company
that it was reviewing the eligibility of the Company’s securities for continued listing on the TSX.
The extension will permit the Company to complete the necessary customary documentation
required under the Judicial Reorganization Agreement (“ JRA”) entered into by the Company on
August 24, 2020. The TSX has deferred its delisting decision until no later than November 2, 2020.
The Company’s securities will continue to trade on the TSX during the review process. If the
Company cannot demonstrate that it meets applicable TSX listing requirements set out in the
Manual prior to such time, the Company’s securities may be delisted.
There can be no assurance that the Company will successfully regain compliance with the TSX
listing requirements within this time period, in which case the Company would need to explore
alternative listing platforms.
The TSX’s review was initiated as result of the Company’s press release dated May 12, 2020 –
SRHI Inc. Announces MTV Files For Creditor Protection in Chile. On August 24, 2020, the Company
announced a successful resolution to the creditor protection process with the execution of the
JRA subject to the completion of all customary documentation. The Company is confident that
all customary documentation required to be executed as outlined in the JRA will be completed
by October 30, 2020 and that the Company’s eligibility for continued listing on the TSX will be
maintained.
The TSX notification and review does not affect the Company’s business operations or applicable
Canadian securities law reporting requirements.
The Company will provide a further update on this process once more information is available.
About SRHI Inc.
SRHI is a publicly-listed company based in Toronto and its principal operating business is its 70%
equity interest in the producing copper mine Minera Tres Valles in Salamanca, Chile. For more
information about SRHI, please visit www.srhi.ca.
Cautionary Statement Regarding Forward-Looking Information
Certain statements in this news release, contain forward-looking information (collectively
referred to herein as the " Forward-Looking Statements ") within the meaning of applicable
Canadian securities laws. The use of any of the words "expect", "anticipate", "continue",
"estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify Forward-Looking Statements. In particular, but without
limiting the foregoing, this news release contains Forward-Looking Statements pertaining to the
Company’s ongoing listing on the TSX, completion of the necessary customary documentation
required under the JRA, and the continued listing of the Company’s securities during the TSX’s
review.
Although SRHI believes that the Forward-Looking Statements are reasonable, they are not
guarantees of future results, performance or achievements. A number of factors or assumptions
have been used to develop the Forward-Looking Statements, including: the Company’s ability to
satisfy the eligibility requirements of the TSX or alternative listing platforms; the Company’s
ability to complete the necessary customary documentation required under the JRA, and
assumptions concerning general marketing, political, business and economic conditions.
Actual results, performance or achievements could vary materially from those expressed or
implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking
Statements prove incorrect or should one or more risks or other factors materialize, including: (i)
risks associated with the mining industry in general (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of estimates and projections
relating to mineral reserves, production, costs and expenses; and labour, health, safety and
environmental risks) and risks associated with the other portfolio companies' industries; (ii) risks
associated with investments in emerging markets; (iii) general economic, market and business
conditions; (iii) commodity price fluctuations and uncertainties; (iv) risks associated with
catastrophic events, manmade disasters, terrorist attacks, wars and other conflicts, or an
outbreak of a public health pandemic or other public health crises, including COVID-19; (v) risk
that MTV and/or the Company cease to be going concerns; (vi) risks concerning the matters
outlined in the JRA; (vii) those risks disclosed under the heading "Risk Management" in SRHI’s
Management’s Discussion and Analysis for the year ended December 31, 2019; and (viii) those
risks disclosed under the heading "Risk Factors" or incorporated by reference into SRHI’s Annual
Information Form dated March 24, 2020.
The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically
noted, and SRHI does not assume any obligation to publicly update any Forward-Looking
Statements, whether as a result of new information, future events or otherwise, except as may
be expressly required by applicable Canadian securities laws.
Investor contact information:
Michael Staresinic
President and CFO
(416) 943-7107
Source: SRHI Inc.