Serabi Gold plc Financial And Accounting Update
April 06 2021 - 2:35AM
UK Regulatory
TIDMSRB
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: mailto:contact@serabigold.com
contact@serabigold.com
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Website: http://www.serabigold.com
www.serabigold.com
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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
https://www.globenewswire.com/Tracker?data=hCdU1Jq5SXE-_XCzI4v4i6h5WxAMz8hrmPxO0He7S25lJzrNXYlME7NLdp0xHrYn2R8MgJGvLiiNFijbWALJpn-cpcUs3FK7gYJgLdH-4-s=
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 identi ed 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 re ect 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
(END) Dow Jones Newswires
April 06, 2021 03:35 ET (07:35 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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