Greenstone entered into a subscription agreement, as amended, to acquire up to US$12 million guaranteed convertible loan notes ("Convertible Loan Notes") in Serabi Gold plc (“Serabi”), which is listed on AIM and the TSX. The subscription of the Convertible Loan Notes was subject to the receipt of applicable shareholder approvals under AIM and the TSX. The Convertible Loan Notes will be issued in tranches and, as of June 30, 2020, US$1,500,000 Convertible Loan Notes had been issued to Greenstone. The Convertible Loan Notes are secured by assets of Serabi and its subsidiaries. Proceeds of the Convertible Loan Notes are to be used to repay existing indebtedness and to advance Serabi’s Coringa Project in Brazil.
Fasken advised Greenstone with a team consisting of Al Gourley, Jodi Katz, Guy Winter, Rachel Yurkowski, KC Miu, Andrew Jackson and Maurice Wong.
