Connemara Mining Company plc Placing (9717N)
August 15 2017 - 1:00AM
UK Regulatory
TIDMCON
RNS Number : 9717N
Connemara Mining Company plc
15 August 2017
15(th) August 2017
Connemara Mining Company plc
("Connemara" or "the Company")
Placing
The board of Connemara Mining (AIM: CON) is pleased to announce
that it has raised GBP135,000 by way of a placing of 7,848,837 new
ordinary shares of EUR0.01 each in the Company ("Ordinary Shares")
at a price of 1.72p per share (the "Placing Shares") (the
"Placing"). For each Placing Share subscribed for, the investors
are also receiving one warrant to subscribe for an additional
Ordinary Share at a price of 3.4p per share at any time until
15(th) August 2019.
The net proceeds of the Placing will be used for working capital
purposes.
Proposed Subscription by Directors
In addition to the Placing, the Board has been advised that John
Teeling and James Finn, both directors of the Company, each intend
to subscribe for 2,906,977 and 872,093 new Ordinary Shares
respectively on the same terms as the Placing, following the
announcement of the Placing.
A further announcement will be made in due course.
Connemara is an active exploration company with principal assets
in gold, zinc and lead exploration licences in Ireland. The company
holds interests in 35 licences and has joint ventures with Teck and
Hendrick Resources.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
ENDS
Enquiries:
Connemara Mining Company
Plc
John Teeling, Chairman +353 (0) 1 833 2833
Jim Finn, Director
Northland Capital Partners
Limited
Matthew Johnson / Gerry +44 (0) 203 861
Beaney 6625
John Howes
+44 (0) 207 138
Blytheweigh 3204
+44 (0) 783 185
Nick Elwes 1855
+44 (0) 781 784
Camilla Horsfall 1793
Teneo PSG
Ciaran Flynn +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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