LONDON, April 14, 2014 (GLOBE NEWSWIRE) -- Fratelli Investments Limited (the "Purchaser") has acquired an aggregate of 1,321,435 ordinary shares (the "Shares") of Serabi Gold plc (the "Corporation"). The Shares were acquired through the purchase by Fratelli in on-market transactions undertaken through trades dated April 10, 2014, and April 11, 2014 for aggregate consideration of C$127,793 (the "Purchases"). As of the date hereof, after giving effect to the Purchases, the Purchaser owns, or exercises control or direction over, 338,517,082 Shares, representing approximately 51.57% of the issued and outstanding Shares on a non-diluted basis. The Purchaser, either alone or together with any joint actors, owns or controls an aggregate of 422,902,117 Shares, representing approximately 57.09% of the increased issued and outstanding Shares assuming that the Purchaser exercises all warrants and options held by the Purchaser.
The Shares were acquired for investment purposes. The Purchaser has a long-term view of the investment and does not intend in the immediate term 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 Purchaser has assumed that there are 656,389,204 Shares issued and outstanding as of the date hereof, as reported by the Corporation on its website as at April 11, 2014.
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 Purchaser at +562 2577 3600.