CCAfrica member, SRG Graphite shares exciting news!
2017-08-31 07:37 ET – News Release
Dr. Marc-Antoine Audet reports
SRG GRAPHITE CLOSES TRANCHE 1 OF $3M STRATEGIC EQUITY FINANCING WITH CORIS CAPITAL SA
SRG Graphite Inc. has closed tranche 1 of the non-brokered private placement announced on Aug. 15, 2017, with Coris Capital SA. The corporation has issued a total of 5.25 million units of SRG at a price of 40 cents per unit for gross proceeds of $2.1-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 Coris 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 50 cents per warrant share.
The remaining $800,000 of the private placement will close on or before Sept. 9, 2017, pending approval of documentation filed with the TSX Venture Exchange.
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.
No finders’ fees or commissions will be payable. Net proceeds from the private placement will be used for exploration purposes and general working capital requirements.
About SRG Graphite Inc.
SRG is a Canadian-based company focused on developing the Lola graphite deposit, located in the Republic of Guinea, West Africa. SRG is committed to operate in a socially, environmentally and ethically responsible manner.
We seek Safe Harbor.