SRG Mining Inc. announced a subscription agreement of 22,442,941 common shares at a price of CAD 0.56 per unit for gross proceeds of CAD 12,568,047 on March 16, 2022. The transaction included participation from La Mancha Fund SCSp, a fund managed by La Mancha Holding S.a.r.l., Investment Arm. The investor has completed its confirmatory due diligence and has received the internal approvals necessary to complete the private placement.

The private placement now remains subject only to customary closing conditions, including TSX Venture Exchange approval, and is expected to close on or before March 31, 2022. All securities to be issued will be subject to a four-month and a day hold period. Following completion of the transaction, the investor will beneficially own and have control and direction over an aggregate of 22,442,941 common shares, representing 19.9% of the currently issued and outstanding common shares.