Published: 08:45 CEST 11-07-2013 /Thomson Reuters /Source: Serabi Gold plc /XLON: SRB /ISIN: GB00B4T0YL77
Supreme Court issues Final Order to complete the Plan of Arrangement between Serabi Gold plc and Kenai Resources Limited
For immediate release
11 July 2013
Serabi Gold plc
("Serabi" or the "Company")
Supreme Court issues Final Order to complete the Plan of Arrangement between Serabi Gold plc and Kenai Resources Limited
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.
Enquiries:
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Serabi Gold plc |
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Michael Hodgson |
Tel: +44 (0)20 7246 6830 |
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Chief Executive |
Mobile: +44 (0)7799 473621 |
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Clive Line |
Tel: +44 (0)20 7246 6830 |
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Finance Director |
Mobile: +44 (0)7710 151692 |
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Email: contact@serabigold.com |
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Website: www.serabigold.com |
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Beaumont Cornish Limited
Nominated Adviser |
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Roland Cornish |
Tel: +44 (0)20 7628 3396 |
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Michael Cornish |
Tel: +44 (0)20 7628 3396 |
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Peel Hunt LLP
UK Broker |
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Matthew Armitt |
Tel: +44 (0)20 7418 9000 |
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Andy Crossley |
Tel: +44 (0)20 7418 9000 |
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Blythe Weigh Communications Ltd
Public Relations |
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Tim Blythe |
Tel: +44 (0)20 7138 3204
Mobile: +44 7816 924626 |
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Rob Kellner |
Tel: +44 (0)20 7138 3204
Mobile: +44 7800 554377 |
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.
ENDS
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. Source: Serabi Gold plc, 66 Lincoln's Inn Fields, London WC2A 3LH, UK
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Kenai Resources Ltd.
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DEVELOPMENT STAGE |
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CODE : KAI.V |
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Kenai Resources is a gold exploration company based in Canada. Kenai Resources holds various exploration projects in Venezuela. Its main asset in development is SÃO CHICO in Brazil and its main exploration properties are GUARICHE GOLD PROPERTY, LOS FLORES and PUYERO I in Venezuela. Kenai Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 590 357 as of today (US$ 569 399, € 433 313). Its stock quote reached its highest recent level on April 02, 2004 at CA$ 1.45, and its lowest recent point on March 08, 2013 at CA$ 0.03. Kenai Resources has 13 119 036 shares outstanding. |