Fratelli Investments Limited Files Early Warning Report
TORONTO, Jan. 24, 2013 /CNW/ - Fratelli Investments Limited (the "Offeror") acquired an aggregate of 167,079,647 ordinary shares (the "Shares") of Serabi Gold plc (the "Corporation"). The Shares were acquired at a price of 6 pence per Share for aggregate consideration of UK£10,024,779 in connection with a private placement offering of Shares of the Corporation (the "Offering"). As of the date hereof, after giving effect to the Offering, the Offeror owns, or exercises control or direction over, 184,695,647 Shares, representing approximately 51.1% of the issued and outstanding Shares on a non-diluted basis.
The Shares were acquired for investment purposes. The Offeror has a long-term view of the investment and does not intend at this time to acquire additional Shares, but may increase its shareholdings of the Corporation in the future depending on market conditions, reformulation of plans and/or other relevant factors.
In this press release, for the purpose of calculating the percentage of Shares owned, the Offeror has assumed that there are 361,268,529 Shares issued and outstanding as of the date hereof, as reported by the Corporation on its website as at January 24, 2013 after giving effect to the Offering.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Nicolas Banados, the MD Private Equity of the Offeror at +56 2577 3600.
The Toronto Stock Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this press release.
SOURCE: Serabi Gold plc