VANCOUVER, British Columbia, Dec 20 (Bernama-GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp (TSX:SBB.T), (“Sabina” or the “Company”) is pleased to announce that Zhaojin International Mining Co., Ltd. (“Zhaojin International”) has agreed to purchase 24,930,000 common shares of the Company at a price of $2.65 per share for a total investment of approximately $66,100,000 in a private placement (the “Financing”). Upon completion of the Financing, Zhaojin International will own approximately 9.9% of the Company’s issued and outstanding common shares on a non-diluted basis. Zhaojin International is a subsidiary of Zhaojin Mining Industry Co. Ltd. (“Zhaojin”), which is a leading Chinese gold producer and one of China’s largest gold smelting companies.
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