Business
Completion of TSX Listing,C$4.95 million fundin...
Completion of TSX Listing,C$4.95 million fundin....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n\n\n\n\n Serabi Mining Plc\n (\"Serabi\" or the \"Company\")\n Completion of TSX Listing\n C$4.95 million funding and Board changes\n\nSerabi Mining plc (AIM: SRB, TSX: SBI, SBI.WT) is pleased to announce that the\nCompany has completed its Canadian initial public offering of 9,000,000 units\n(the \"Units\") at a price of C$0.55 per Unit (the \"Offering Price\") for gross\nproceeds to the Company of C$4.95 million (the \"Offering\"). Each Unit is\ncomprised of one ordinary share (an \"Ordinary Share\") and one-half of one\nordinary share purchase warrant of the Company (each whole ordinary purchase\nwarrant, a \"Warrant\"), with each Warrant being exercisable to acquire one\nOrdinary Share at an exercise price of C$0.75 until 2 December 2012. The\nCompany's Ordinary Shares and Warrants have begun trading on 30 March 2011 on\nthe Toronto Stock Exchange (the \"TSX\") under the symbol SBI and SBI.WT,\nrespectively. The Offering was led by Fraser Mackenzie Limited as agent to\nSerabi. The Ordinary Shares of the Company will continue to be admitted to\ntrading on AIM\n\nThe completion of the Offering and the listing of the Ordinary Shares and\nWarrants on the TSX has also resulted in the automatic exercise of 10,070,000\npreviously issued special warrants of the Company (the \"Special Warrants\"). As\na result of this automatic exercise, the Company has issued a further\n10,070,000 Ordinary Shares and 5,035,000 Warrants to holders of the Special\nWarrants.\n\nThe proposed new appointments to the Board, announced on 24 March 2011, have\nalso today taken effect and the Directors are pleased to welcome Sean Harvey,\nDoug Jones and Mel Williams as non-executive directors of the Company. Sean\nHarvey has also agreed to become Chairman of the Company. Graham Roberts will\ncontinue as a non-executive director of the Company.\n\nIn aggregate 19,070,000 new Ordinary Shares have been issued pursuant to the\nOffering and the exercise of the Special Warrants and there are now 63,968,529\nOrdinary Shares in issue. The new Ordinary Shares will rank pari passu in all\nrespects with the existing Shares, including the right to receive all dividends\nand other distributions declared, made or paid after the date of their issue.\nApplication will be made for the 19,070,000 new Ordinary Shares issued pursuant\nto the Offering and the e...