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Subscription of Warrants of Serabi Gold Plc

·2-min read

GUERNSEY, Channel Islands, May 28, 2021 (GLOBE NEWSWIRE) -- Further to the press release of Serabi Gold Plc (the “Company”) of 25 May 2021, Greenstone Resources II L.P. (“Greenstone”) announces that it has subscribed for an aggregate of 2,097,711 warrants of the Company (“Warrants”), each warrant exercisable for an ordinary share of the Company (“Ordinary Share”) at an exercise price per warrant of £0.9375. Greenstone paid £0.06 per warrant (equivalent, in aggregate, to C$215,527.22, using the closing exchange rate of £1:C$1.7124 on 27 May 2021 published on the Bank of Canada website). The Warrants are exercisable for a period of two years.

Prior to the issuance of the Warrants, Greenstone had ownership of and control over 19,085,395 Ordinary Shares and 200,000 options to purchase Ordinary Shares, representing, in aggregate, approximately 25.40% of the Company’s issued and outstanding Ordinary Shares (on an undiluted basis). If Greenstone exercised all of the Warrants and options, it would hold an aggregate of 21,833,106 Ordinary Shares, representing an aggregate interest of 27.40% of the Company’s issued and outstanding Ordinary Shares (on a post-issuance basis), an increase of 2,097,711 Ordinary Shares, representing an increase of 2% from the percentage it held prior to the issuance of the Warrants.

Greenstone subscribed for the Warrants for investment purposes. Depending on market conditions and other factors, Greenstone may from time to time acquire and/or dispose of securities of the Company or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commission in connection with the transactions will be available on SEDAR at www.sedar.com and can be obtained by contacting Matt Hornton or Gordon Purvis at +44 1481 749 700. Greenstone’s address is set out below.

Greenstone Resources II L.P.
PO Box 656, East Wing,
Trafalgar Court, Les Banques
St Peter Port, Guernsey

Serabi Gold Plc
66 Lincoln’s Inn Fields
London, England
EC2A 3LH


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