The information
contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 ("MAR"). Upon publication of this
announcement, this inside information is now considered to be in
the public domain.
28 August 2018
Conroy Gold and Natural Resources plc
(“Conroy Gold” or “the Company”)
Placing to raise
£500,000 (€556,545)
- Placing of 3,636,365 new ordinary shares at 13.75 pence per share to raise £500,000
(€556,545)
- Proceeds of the Placing to be used for the advancement of
the Company’s gold assets in Ireland
Conroy Gold and Natural Resources
plc (AIM: CGNR), the gold exploration and development company
focused on Ireland and
Finland, is pleased to announce
that it has conditionally raised £500,000 (€556,545), through a
Placing (the “Placing”) of 3,636,365 ordinary shares of €0.001 in
the capital of the Company (the “Placing Shares”) at a price of
13.75 pence per Placing Share, being
a premium of 20 percent to the closing mid-market price on
24 August 2018 (being the last
practicable date prior to the completion of the Placing).
The Placing is conditional on admission of the Placing Shares to
trading on AIM. The Placing Shares will rank pari passu with
the existing issued ordinary shares of €0.001 in the capital of the
Company (“Ordinary Shares”).
The Company intends to use the proceeds of the placing to fund
the advancement of the Company’s gold assets, in particular the
development of the Clontibret deposit, together with exploration
focussed on the Clay Lake, Glenish and Slieve Glah gold prospects
within the 40 mile (65 km) Armagh-Monaghan-Cavan gold belt and for
working capital generally.
Application has been made to AIM for the Placing Shares to be
admitted to trading. It is expected that admission will become
effective on 31 August 2018.
Following the issue of the Placing Shares, and for the purposes
of the Disclosure and Transparency Rules, the Company's total
issued share capital on Admission will consist of 23,693,039
Ordinary Shares.
The above figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company, under the Disclosure and Transparency Rules.
Professor
Richard Conroy, Chairman
commented:
“I am pleased to report that this Placing will allow the
momentum achieved from the excellent drilling results that we
recently reported to be continued over the coming
months.”
For further information please contact:
Conroy Gold and
Natural Resources plc |
Tel:
+353-1-479-6180 |
Professor Richard
Conroy, Chairman |
|
Allenby Capital
Limited (Nomad) |
Tel:
+44-20-3328-5656 |
Virginia Bull/Nick
Harriss |
|
Brandon Hill
Capital Limited (Broker) |
Tel:
+44-20-3463-5000 |
Jonathan Evans |
|
Lothbury Financial
Services |
Tel:
+44-20-3290-0707 |
Michael Padley |
|
Hall
Communications |
Tel:
+353-1-660-9377 |
Don Hall |
|
Visit the website at:
www.conroygold.com