Serabi Gold plc Financial And Accounting Update

 
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: [phone] 
Chief Executive                                     Mobile: [phone] 
 
Clive Line                                          Tel: [phone] 
Finance Director                                    Mobile: [phone] 
 
Email: mailto:[e-mail] 
[e-mail] 
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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: [phone] 
Michael Cornish                                     Tel: [phone] 
 
Peel Hunt LLP 
 UK Broker 
Ross Allister                                       Tel: [phone] 
 
 
 
 
   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)

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