SRHI Inc. Announces Filing of Final Prospectus

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TORONTO, April 13, 2021 (GLOBE NEWSWIRE) -- (TSX: SRHI) - SRHI Inc. ("SRHI" or the "Company”) announced today that it has obtained a receipt for its final prospectus filed with the securities regulatory authorities in each of the provinces of Canada (except Quebec) in connection with its previously announced offering of 18,200,000 units of the Company (“Units”) on a “bought deal” basis, at a price of C$0.55 per Unit (the “Offering Price”) for aggregate gross proceeds of C$10,010,000 (the “Offering”). Each Unit consists of one common share (each a “Unit Share”) in the capital of the Company and one common share purchase warrant (each a “Warrant”). Each Warrant is exercisable into one common share of the Company at an exercise price of C$0.70 for a period of 18 months from the closing of the Offering.

PI Financial Corp. and Eight Capital are acting as co-lead underwriters and joint bookrunners (together, the “Co-Lead Underwriters”) on their own behalf and on behalf of a syndicate of underwriters (together with the Co-Lead Underwriters, the “Underwriters”) in connection with the Offering.

The Company has granted the Underwriters an option, exercisable in whole or in part and from time to time at any time until 30 days after the closing of the Offering, to purchase up to an additional number of Units equal to 15% of the number of Units sold pursuant to the Offering at the Offering Price.

The net proceeds from the Offering will be used to fund the advancement and exploration of the Company’s flagship Minera Tres Valles project and for working capital and general corporate purposes.

The Offering is expected to close on or about April 16, 2021 subject to satisfying certain closing conditions, including final approval of the Toronto Stock Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.