Financial and Accounting update
April 06 2021 - 2:35AM
For immediate release
6 April 2021
Serabi Gold plc
(“Serabi” or the “Company”)
Financial and Accounting
update
Serabi Gold plc advises that following its
announcement made on 1 April 2021 informing of a delay in the
release of the audited annual financial results for the year ended
31 December 2020 (“Accounts”), originally scheduled to be issued on
31 March 2021, the UK executive management and Serabi Gold plc
board has suspended two local managers in Brazil. The Company
has engaged lawyers in Brazil who have commenced their own internal
enquiries whilst BDO LLP, the Company’s auditors, are undertaking
further work to resolve the audit issues identified in Brazil,
The Company is in discussions with the Canadian
Securities regulatory authorities to allow the shares to continue
to be traded on the Toronto Stock Exchange notwithstanding
the delay in the filing of its Accounts. As previously announced,
the Company envisages being able to publish its Accounts in
accordance with the requirements of the AIM Rules, but if the delay
is likely to have any effect on this, then a further announcement
will be made in due course.
Continuing production at Palito and Sao Chico is
unaffected, and the Company expects to provide its routine update
on production for the first quarter ended 31 March 2021 towards the
end of this month.
Enquiries:
Serabi Gold plc |
|
Michael Hodgson |
Tel: +44 (0)20 7246 6830 |
Chief Executive |
Mobile: +44 (0)7799 473621 |
|
|
Clive Line |
Tel: +44 (0)20 7246 6830 |
Finance Director |
Mobile: +44 (0)7710 151692 |
|
|
Email:
contact@serabigold.com |
|
Website:
www.serabigold.com |
|
|
|
Beaumont Cornish Limited
Nominated Adviser and Financial Adviser |
|
Roland Cornish |
Tel: +44 (0)20 7628 3396 |
Michael Cornish |
Tel: +44 (0)20 7628 3396 |
|
|
Peel Hunt LLP UK Broker |
|
Ross Allister |
Tel: +44 (0)20 7418 8900 |
|
|
|
|
Copies of this announcement 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 announcement.
Qualified Persons Statement
The scientific and technical information contained within this
announcement has been reviewed and approved by Michael Hodgson, a
Director of the Company. Mr Hodgson is an Economic Geologist by
training with over 26 years' experience in the mining industry. He
holds a BSc (Hons) Geology, University of London, a MSc Mining
Geology, University of Leicester and is a Fellow of the Institute
of Materials, Minerals and Mining and a Chartered Engineer of the
Engineering Council of UK, recognising him as both a Qualified
Person for the purposes of Canadian National Instrument 43-101 and
by the AIM Guidance Note on Mining and Oil & Gas Companies
dated June 2009.
Forward Looking Statements
Certain statements in this announcement are, or may be deemed to
be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as ‘‘believe’’,
‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’,
‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those, variations or
comparable expressions, including references to assumptions. These
forward looking statements are not based on historical facts but
rather on the Directors’ current expectations and assumptions
regarding the Company’s future growth, results of operations,
performance, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such forward
looking statements reflect the Directors’ current beliefs and
assumptions and are based on information currently available to the
Directors. A number of factors could cause actual results to differ
materially from the results discussed in the forward looking
statements including risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which
are beyond the control of the Company. Although any forward-looking
statements contained in this announcement are based upon what the
Directors believe to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such
forward looking statements.
ENDS
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