Coralbrook Ltd. Acquires Ordinary Shares of Rio Novo Gold Inc.

NICOSIA, Cyprus, Sept. 21, 2012 /CNW/ - Coralbrook Ltd. ("Coralbrook"), Themistokli Dervi 3, Julia House, PC1066, Nicosia, Cyprus, announced today that it has acquired 4,907,509 ordinary shares of Rio Novo Gold Inc. ("Rio Novo") or approximately 4.33% of Rio Novo's issued and outstanding ordinary shares.  After giving effect to the acquisition, Coralbrook owns or has control or direction over an aggregate of 56,469,384 ordinary shares of Rio Novo, representing approximately 49.88% of Rio Novo's issued and outstanding ordinary shares.  The acquisition was a private transaction for a cash purchase price of Cdn. $0.2425 per share.

The ordinary shares were acquired for investment purposes and Coralbrook may in the future increase or decrease its investment in Rio Novo depending on market conditions and other relevant factors.

An early warning report (the "EWR") will be filed on SEDAR and will be available for review at www.sedar.com under Rio Novo's profile.  A copy of the EWR can also be obtained from the contact below.

SOURCE: Coralbrook Ltd.

For further information:

Coralbrook Ltd.
Marco Antonio Moherdaui - Director
Tel: +55 11 3087 7577
Email: marco@monacomoherdaui.adv.br

Profil de l'entreprise

Coralbrook Ltd.

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