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Subscription for Ordinary Shares of Serabi Gold PLC

GUERNSEY, Channel Islands, April 13, 2018 (GLOBE NEWSWIRE) -- Greenstone Resources II L.P. (“Greenstone”) announces that, further to its announcement on March 23, 2018, it has subscribed for 297,759,419  ordinary shares of Serabi Gold PLC (“Serabi”), a company listed on AIM and the TSX, at a price per ordinary share of £0.036 (approximately C$0.0644, based on an exchange rate of £1:C$1.788). The aggregate subscription price of US$15,000,000 (approximately C$19,175,707, based on an exchange rate of US$1:C$1.2784) was paid in US dollars (the “Subscription”).

Following completion of the Subscription and as of the date hereof, Greenstone owns and controls over 297,759,419 ordinary shares of Serabi, representing approximately 29.8% of the total issued and outstanding ordinary shares of Serabi. 

Greenstone acquired the ordinary shares of Serabi for investment purposes. Depending on market conditions and other factors, Greenstone may from time to time acquire and/or dispose of securities of Serabi or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with the transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Mr Matt Hornton or Mr Gordon Purvis on +44 (0) 1481 748810.

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’s address is set out below.

Serabi Gold PLC
30-32 Ludgate Hill
London, EC4M 7DR