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