SOURCE: Serabi Gold plc

Serabi Gold plc

July 19, 2013 02:00 ET

Plan of Arrangement Completed Between Serabi Gold plc and Kenai Resources Limited

Serabi Gold plc; ("Serabi" or the "Company")

LONDON--(Marketwired - Jul 19, 2013) - Serabi Gold plc (AIM: SRB) (TSX: SBI), the Brazilian focused gold mining and exploration company, announces that all conditions precedent relating to the plan of arrangement ("the Arrangement") for Serabi to acquire the entire share capital of Kenai Resources Limited ("Kenai") were satisfied and the transaction has completed.

As announced on 10 July 2013, under the Arrangement a total of 95,120,675 new ordinary shares of Serabi ("Serabi Shares") have been issued to the shareholders of Kenai including 5,100,000 Serabi Shares issued in exchange for 6,000,000 Kenai shares that have been issued to Gold Anomaly Limited ("GOA") in satisfaction of obligations under a share purchase agreement between GOA and Kenai relating to the acquisition by Kenai of the shares of Gold Aura do Brasil Mineracao Ltda, the owner of the Sao Chico gold project. Application has been made for the new Serabi Shares to be issued pursuant to the Arrangement to be admitted to trading on AIM, which is expected to commence on or about 24 July 2013. The new Serabi Shares will rank pari passu in all respects with the existing Serabi Shares.

Following the issue of the Serabi Shares, Serabi will have 456,389,204 ordinary shares in issue. Based on the latest information provided to the Company it is anticipated that the following parties will have in excess of 3% of the issued ordinary shares of the Company

Holder   Number of Ordinary Shares    
Fratelli Investments Limited   184,695,647   40.47%
Anker Holding AG   40,000,000   8.76%
Eldorado Gold Corporation   34,090,000   7.47%
Drake PIPE Fund   31,119,686   6.82%
Fondo de Inversion Privado Santa Monica   22,443,947   4.92%
Gold Anomaly Limited   17,134,461   3.75%

Copies of this release are available from the Company's website at www.serabigold.com.

Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.

Contact Information

  • Enquiries:

    Serabi Gold plc
    Michael Hodgson
    Chief Executive
    Tel: +44 (0)20 7246 6830
    Mobile: +44 (0)7799 473621


    Clive Line
    Finance Director
    Tel: +44 (0)20 7246 6830
    Mobile: +44 (0)7710 151692

    Email: contact@serabigold.com
    Website: www.serabigold.com


    Beaumont Cornish Limited
    Nominated Adviser
    Roland Cornish
    Tel: +44 (0)20 7628 3396
    Michael Cornish
    Tel: +44 (0)20 7628 3396


    Peel Hunt LLP
    UK Broker
    Matthew Armitt
    Tel: +44 (0)20 7418 9000
    Andy Crossley
    Tel: +44 (0)20 7418 9000


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    Public Relations
    Tim Blythe
    Tel: +44 (0)20 7138 3204
    Mobile: +44 7816 924626
    Rob Kellner
    Tel: +44 (0)20 7138 3204
    Mobile: +44 7800 554377