(all amounts expressed in US dollars)

TORONTO, March 22, 2021 (GLOBE NEWSWIRE) -- SRHI Inc. (“SRHI" or the “Company”) announces an update on its timing of its voluntary delisting application (the “Voluntary Delisting Application”) to delist the Company's common shares (“Common Shares”) and common share purchase warrants (the “Warrants”) from the Toronto Stock Exchange (the “TSX”) as detailed in its press release of March 1, 2021.

The Company intends to list its Common Shares and Warrants on the TSX Venture Exchange (the “TSXV”) and has received conditional approval from the TSXV to do so. The Company is currently addressing the remaining outstanding items to receive final approval of its application (the “Listing Application”) to list its Common Shares and Warrants on the TSXV (the “TSXV Listing”).

As a result of the Company’s announced bought deal financing on March 15, 2021, the Company has chosen to reschedule when it intends to delist its Common Shares and Warrants from the TSX and then relist these same securities on the TSXV.

The Voluntary Delisting Application is being made in conjunction with and is subject to SRHI receiving final approval from the TSXV for the TSXV Listing. If SRHI’s Listing Application receives final approval by the TSXV, it is SRHI’s intention to take all reasonable and prudent steps, as required and with assistance from and cooperation with the TSX and TSXV, to list the Company’s Common Shares and Warrants on the TSXV without interruption or delay. As a result, the Company is now expecting the delisting of its Common Shares and Warrants from the TSX to be effective at the close of business on April 19, 2021 (revised from March 30, 2021) and begin listing its Common Shares and Warrants on the TSXV on April 20, 2021 (revised from March 31, 2021). After this change, Common Shares and Warrants will only be available for trading on the TSXV.

Securityholder approvals of the Voluntary Delisting Application and the TSXV Listing are not required.

About SRHI Inc.

SRHI is a publicly-listed company based in Toronto and its principal operating business is its 70% equity interest in the producing copper mine MTV in Salamanca, Chile. For more information about SRHI, please visit www.srhi.ca.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this news release contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable Canadian securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this news release contains Forward-Looking Statements pertaining to: the anticipated approvals from the TSX and TSXV on the Company’s Voluntary Delisting Application and Listing Application and the absence of interruptions or delays in the trading of securities of the Company.

Although SRHI believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: the anticipated approvals from the TSX and TSXV on the Company’s Voluntary Delisting Application and Listing Application, which approvals are not guaranteed. Although the Company believes that the expectations and assumptions on which such Forward-Looking Statements and information are based are reasonable, undue reliance should not be placed on the Forward-Looking Statements and information as the Company cannot give any assurance that they will prove to be correct. Since Forward-Looking Statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Other risk factors that could affect the Company’s operations or financial results are included in the Company’s Annual Information Form dated March 3, 2021 and may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.

For further information:

Michael Staresinic
President and Chief Financial Officer
T: (416) 943-7107
E: mstaresinic@srhi.ca

Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
T: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Source: SRHI Inc.