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
