EDITOR: | July 19th, 2013

Plan of Arrangement Completed Between Serabi Gold plc and Kenai Resources Limited

| July 19, 2013 | No Comments
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July 19, 2013 (Source: Marketwired) — Serabi Gold plc (AIM: SRB) (TSX: SBI), the Brazilian focused gold mining and exploration company, announces that all conditions precedent relating to the plan of arrangement (“the Arrangement”) for Serabi to acquire the entire share capital of Kenai Resources Limited (“Kenai”) were satisfied and the transaction has completed.

As announced on 10 July 2013, under the Arrangement a total of 95,120,675 new ordinary shares of Serabi (“Serabi Shares”) have been issued to the shareholders of Kenai including 5,100,000 Serabi Shares issued in exchange for 6,000,000 Kenai shares that have been issued to Gold Anomaly Limited (“GOA”) in satisfaction of obligations under a share purchase agreement between GOA and Kenai relating to the acquisition by Kenai of the shares of Gold Aura do Brasil Mineracao Ltda, the owner of the Sao Chico gold project. 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 24 July 2013. The new Serabi Shares will rank pari passu in all respects with the existing Serabi Shares.

Following the issue of the Serabi Shares, Serabi will have 456,389,204 ordinary shares in issue. Based on the latest information provided to the Company it is anticipated that the following parties will have in excess of 3% of the issued ordinary shares of the Company

Holder Number of Ordinary Shares
Fratelli Investments Limited 184,695,647 40.47%
Anker Holding AG 40,000,000 8.76%
Eldorado Gold Corporation 34,090,000 7.47%
Drake PIPE Fund 31,119,686 6.82%
Fondo de Inversion Privado Santa Monica 22,443,947 4.92%
Gold Anomaly Limited 17,134,461 3.75%

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.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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