SRG Mining Name Change to Falcon Energy Materials PLC and Redomiciliation to UAE
2024-07-29 19:55 ET
Pursuant to a resolution passed by shareholders on May 17, 2024, the company has changed its name from SRG Mining Inc. to Falcon Energy Materials PLC, as part of the continuance of the company out of the federal jurisdiction of Canada under the Canada Business Corporations Act into the jurisdiction of the Abu Dhabi Global Market. There is no consolidation of capital.
Effective at the opening on Wednesday, July 31, 2024, the ordinary shares of Falcon Energy Materials will commence trading on the TSX Venture Exchange (FLCN:TSXV) and the common shares of SRG Mining will be delisted. The company is classified as a mining, quarrying, and oil and gas extraction company (NAICS No. 21).
Corporate jurisdiction: Abu Dhabi Global Market (new)
Capitalization: unlimited number of ordinary shares and an unlimited number of Class 1 preferred shares, of which 117,385,961 ordinary shares and nil Class 1 preferred shares are issued and outstanding
Cusip No.: M4R68K 10 3 (new)
**********
2024-07-02 01:12 ET - News Release
Mr. Matthieu Bos reports
REDOMICILIATION TO UNITED ARAB EMIRATES COMPLETED - FALCON ENERGY MATERIALS ANNOUNCES NAME CHANGE, STRATEGIC PARTNERSHIP AND FINANCING DISCUSSIONS PROGRESSING
Falcon Energy Materials PLC, formerly SRG Mining Inc., has completed its redomiciliation to the jurisdiction of the Abu Dhabi Global Market in the United Arab Emirates. The UAE redomiciliation will provide the company with expanded strategic options as it advances its partnership discussions. Additionally, the United Arab Emirates has double taxation and bilateral investment treaties with the Republic of Guinea, where Falcon's primary asset, the Lola graphite project, is located.
The proposal to continue the company out of the federal jurisdiction of Canada under the Canada Business Corporations Act and into the jurisdiction of the ADGM along with the adoption of new articles of continuance, as detailed in the company's information circular and proxy statement dated April 15, 2024, was approved by approximately 93 per cent of the company's shareholders who voted in person or by proxy at the company's annual and special meeting of shareholders, held on May 17, 2024. The TSX Venture Exchange has conditionally approved the UAE redomiciliation.
Matthieu Bos, chief executive officer of Falcon, commented: "With the redomiciliation to Abu Dhabi, we have created a unique platform with a domiciliation in the UAE and a listing on the TSX Venture Exchange. Falcon Energy Materials aims to become a UAE champion, delivering key energy materials at a competitive cost to transition to a carbon-neutral world economy.
"The falcon is a significant symbol in UAE culture, admired for its strength, courage and vision. The region's economic growth and macroeconomic stability, despite global market challenges, make Abu Dhabi a unique place to grow Falcon Energy Materials. We would like to thank the ADGM, the TSX Venture Exchange and our advisers who have facilitated this redomiciliation," added Mr. Bos.
In parallel with the UAE redomiciliation, the company is pleased to announce its name change from SRG Mining Inc. to Falcon Energy Materials PLC.
There is no consolidation of the company's share capital in connection with the name change. As a result, shareholders are not required to exchange their existing share certificates for new certificates bearing the company's new name. The name change does not affect the company's share structure, and no further action is required by existing shareholders.
The TSX-V has conditionally approved the name change.
The company's shares will continue to trade on the TSX-V under the stock symbol SRG, and the company will continue to be subject to the rules and policies of the TSX-V. Trading of the company's shares as a public company limited by shares under the laws of the ADGM and under its new name and new stock symbol will commence at market open on the date specified in the TSX-V bulletin that will be issued in connection with the UAE redomiciliation and name change.
Strategic partnership and financing discussions progressing
The company is also pleased to announce progress in strategic partnership and financing discussions. Several strategic partners have expressed interest in becoming Tier 2 suppliers to the western battery end markets. The company is currently evaluating various strategic options.
Concurrently, discussions with multiple high-quality parties interested in providing financing to advance Falcon toward first production are progressing. The company is seeking both debt and equity financing to finance the construction of the first phase of the Lola graphite project and the anode material plant to produce coated spherical purified graphite.
Falcon will provide further updates only if a specific transaction or process is concluded or if further disclosure is required under applicable laws or deemed appropriate. There can be no assurance that the company will pursue any transaction or that a transaction, if pursued, will be completed.
About Falcon Energy Materials PLC
Falcon is focused on developing the Lola graphite project located in the Republic of Guinea, West Africa. The Lola graphite project has proven and probable reserves of 42 million tonnes at a grade of 4.2 per cent graphitic carbon. Falcon aims to develop a fully integrated source of battery anode material to supply the European lithium-ion and fuel cell markets. With attractive operating costs, proximity to European end markets, and strong environmental, social and governance credentials, the company is poised to become a reliable supplier while promoting sustainability and supply chain transparency. Falcon is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates.
We seek Safe Harbor. |
