December 19, 2017 / 5:42 PM / 9 months ago

BRIEF-Sabina Gold & Silver Announces 9.9% Strategic Investment By Zhaojin International

Dec 19 (Reuters) - Sabina Gold & Silver Corp:

* SABINA GOLD & SILVER ANNOUNCES 9.9% STRATEGIC INVESTMENT BY ZHAOJIN INTERNATIONAL MINING CO LTD

* SAYS ZHAOJIN INTERNATIONAL MINING CO HAS AGREED TO PURCHASE 24.9 MILLION COMMON SHARES OF COMPANY AT A PRICE OF $2.65 PER SHARE​

* SAYS CO, ZHAOJIN INTERNATIONAL SIGNED SHAREHOLDER AGREEMENT INCLUDING STANDSTILL IN EFFECT FOR 4 YEARS FROM CLOSING OF FINANCING​

* SAYS ‍ZHAOJIN INTERNATIONAL WILL HAVE RIGHT TO NOMINATE ONE DIRECTOR TO SABINA’S BOARD AT 9.9 PERCENT OWNERSHIP​

* SAYS SHAREHOLDER AGREEMENT INCLUDES ZHAOJIN INTERNATIONAL TO HAVE OPTION TO INCREASE SHAREHOLDING TO UP TO 19.9% OF SHARES OF CO

* SAYS ‍ZHAOJIN INTERNATIONAL WILL HAVE AN OPTION TO INCREASE ITS SHAREHOLDING TO UP TO 19.9% OF COMMON SHARES OF COMPANY​

* SAYS ‍ZHAOJIN INTERNATIONAL SHALL ALSO HAVE RIGHT TO APPOINT A SECOND DIRECTOR SHOULD ITS EQUITY POSITION INCREASE TO 19.9 PERCENT IN CO Source text for Eikon: Further company coverage:

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