09:44 AM EST - Serabi Gold plc : announced that it has entered into a conditional subscription agreement with Fratelli Investments Limited, one of its major shareholders, to subscribe for and underwrite a placement of new shares to raise in aggregate UK£16.2 million to finance the development and start-up of underground mining operations at its Palito gold mine. In addition, Fratelli has provided an interim secured short term loan facility of $6 million U.S. (equivalent to UK£ 3.7 million) to the Company to provide additional working capital to the Company and to enable it to commence the initial works at Palito. Serabi Gold plc
shares T.SBI are trading unchanged at $0.14.
