Serabi Gold Makes First Drawdown On Fratelli Convertible Loan Facility (ALLISS)

Wed, 06th Jan 2016 08:41

LONDON (Alliance News) - Serabi Gold PLC on Wednesday said it has made an initial drawdown of USD2.0 million on the USD5.0 million unsecured short-term working capital convertible loan facility provided to the company by Fratelli Investments.

The first USD2.0 million is convertible into Serabi shares at an exercise price of 3.6 pence per share at any time, Serabi said.

Shares in Serabi were untraded on Wednesday morning, having last traded at 3.00p.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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