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LONDON - Serabi Gold plc (AIM:SRB, TSX: SBI, OTCQX: SRBIF), a gold production and exploration company, confirmed today the successful placement of approximately 20.7% of its issued share capital with various UK and European institutional investors. The transaction involved the sale of 15,689,395 ordinary shares, which were previously held by Greenstone Resources II LP and Fratelli Investments Limited.
Greenstone sold about 5% of Serabi’s shares, totaling 3,936,492 shares, while Fratelli parted with approximately 15%, or 11,752,903 shares. Despite the sale, Fratelli maintains a 10% stake in the company, with 7,565,882 ordinary shares.
Michael Hodgson, CEO of Serabi, welcomed the new shareholders and expressed gratitude for the long-term support from both Greenstone and Fratelli. He emphasized that the structured transaction facilitated by brokers Peel Hunt LLP and Tamesis Partners LLP allowed the selling shareholders to realize their investment value while maintaining market order and value for all shareholders.
Serabi Gold, headquartered in the United Kingdom (TADAWUL:4280) with an office in Toronto, Canada, focuses on the Tapajós region in Para State, northern Brazil. The company has consistently produced 30,000 to 40,000 ounces of gold annually from the Palito Complex and plans to double this output with the upcoming Coringa Gold project. Additionally, Serabi has recently discovered a copper-gold porphyry on its expansive exploration license.
The company’s announcement is in accordance with the Market Abuse Regulations (EU) No. 596/2014 as part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The press release statement was arranged by Andrew Khov, Vice President of Investor Relations & Business Development.
This news is based on a press release statement and contains no forward-looking statements or claims not supported by independent verification.
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