Business
Filing of Final Prospectus, C$4.95 million fina...
Filing of Final Prospectus, C$4.95 million fina....
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\n FILING OF FINAL PROSPECTUS\n  PROPOSED C$4.95 MILLION FINANCING AND CHANGES TO THE BOARD\n\nSerabi Mining plc the AIM-traded gold exploration company, is pleased to\nannounce that, further to its announcement on 11 February 2011 that it had filed\na preliminary prospectus with the securities regulators in Canada, the Company\nhas today filed with the relevant Canadian securities authorities a final\nprospectus (the \"Prospectus\") ahead of the proposed listing of its shares on the\nToronto Stock Exchange (\"TSX\") subject to fulfillment of the remaining listing\nconditions of the TSX. The Ordinary Shares will continue to be admitted to\ntrading on AIM.\n\nA copy of the Prospectus has been posted on SEDAR at www.sedar.com and is also\navailable to be viewed on the Company's website at www.serabimining.com.\n\nConcurrent with the proposed listing of its ordinary shares (the \"Shares\") on\nthe Toronto Stock Exchange (the \"TSX\"), the Company is also planning to issue up\nto 9 million units to raise gross proceeds of up to C$4.95 million (equivalent\nto approximately £3.10 million).\n\nThe Company has engaged Fraser Mackenzie Limited as its broker in Canada, who,\non a reasonable best efforts basis, will be offering the units (the\n\"Offering\"). Each unit (a \"Unit\") will be comprised of one new Share and one\nhalf of a share purchase warrant entitling the holder of each whole share\npurchase warrant (an \"Offering Warrant\") to subscribe for one new Share at a\nprice of $0.75 at any time from the closing date of the Offering until 2\nDecember 2010 . Each Unit has been priced at 55 cents (equivalent as of 23\nMarch 2011 to 34.40 pence). The TSX has given conditional approval for the\nShares to be admitted to trading on the TSX, subject to completion of the\nOffering and it is currently anticipated that the Offering will close on or\nabout 30 March 2011 (the \"Closing\"). It is intended that the proceeds of the\nOffering will be used to further the Company's current exploration programmes\nand for general working capital purposes.\n\nEldorado Gold Corporation (\"Eldorado\") and Greenwood Investments Limited\n(\"Greenwood\"), who respectively are interested in 26.7% and 20.0% of the issued\nShares of the Company, have both indicated t...