‍

SRG MINING (TSX.V: SRG) ANNOUNCES CLOSING OF FULLY SUBSCRIBED CAD$4,800,000 EQUITY FINANCING

SRG Mining (TSX.V: SRG) has closed a non-brokered private placement. The company has issued a total of 9.6 million units of SRG at a price of 50 cents per unit for gross proceeds of $4.8-million.

Each unit comprises one common share of the company and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holders to purchase for a period of 24 months from the date of closing, one additional common share of the company at an exercise price of 75 cents per warrant share.

"The offering was primarily comprised of at least two European business persons, Messrs. Eric Swenden and Christian Dumolin, through their related entities," said Benoit La Salle, executive chairman of the board of SRG. "Our new shareholders have strong business relationships in Europe, across the Atlantic and around the globe. With their support and these additional financial resources, we believe that the company is better positioned than ever to advance on the development of its Lola project."

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.

There are no finder's fees or commissions payable. Net proceeds from the private placement will be used to continue the development of the Lola graphite project and general working capital requirements.

‍

‍Have feedback on this article? Concerned about the content?

Get in touch with us directly Alternatively, email suneal@thegoldstocks.com‍

The Gold Stocks website (www.thegoldstocks.com) is owned by Machai Capital. Machai is a Vancouver, British Columbia-based marketing, advertising, and public relations company. Our writings are not designed to provide financial advice. It is not an advice to buy or sell any stock, and it does not take into consideration your objectives or financial position.

Address: 200-17618 58 Ave, Surrey, BC, V3S1L3.