Supreme Court Issues Final Order to Complete the Plan of Arrangement Between Serabi Gold plc and Kenai Resources Ltd

11.07.2013  |  Marketwired

LONDON -- (Marketwired - Jul 11, 2013) - Serabi Gold plc (AIM: SRB) (TSX: SBI), the Brazilian focused gold mining and exploration company, announces that on 10 July 2013 the Supreme Court of British Columbia ("Court") issued a final order approving the plan of arrangement ("the Arrangement") for Serabi to acquire the entire share capital of Kenai Resources Limited ("Kenai"). Assuming that all other conditions to closing have been satisfied or waived, the Arrangement is expected to become effective on or about 11 July 2013.

Under the Arrangement a total of 90,020,675 new ordinary shares of Serabi ("Serabi Shares") will be issued to the current shareholders of Kenai. Application has been made for the new Serabi Shares to be issued pursuant to the Arrangement to be admitted to trading on AIM, which is expected to commence on or about 16 July 2013. The new Serabi Shares will rank pari passu in all respects with the existing Serabi Shares.

Copies of this release are available from the Company's website at www.serabigold.com.


Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.



Contact Information

Enquiries:
Serabi Gold plc
Michael Hodgson, Chief Executive
Tel: +44 (0)20 7246 6830, Mobile: +44 (0)7799 473621

Clive Line, Finance Director
Tel: +44 (0)20 7246 6830, Mobile: +44 (0)7710 151692
Email: contact@serabigold.com
Website: www.serabigold.com

Beaumont Cornish Limited
Nominated Adviser, Roland Cornish
Tel: +44 (0)20 7628 3396

Michael Cornish
Tel: +44 (0)20 7628 3396

Peel Hunt LLP
UK Broker, Matthew Armitt
Tel: +44 (0)20 7418 9000

Andy Crossley
Tel: +44 (0)20 7418 9000

Blythe Weigh Communications Ltd
Public Relations, Tim Blythe
Tel: +44 (0)20 7138 3204
Mobile: +44 7816 924626

Rob Kellner
Tel: +44 (0)20 7138 3204
Mobile: +44 7800 554377