18 February
2020
THIS ANNOUNCEMENT
CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). IN ADDITION,
MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN
THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME
AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN
POSSESSION OF INSIDE INFORMATION.
Conroy Gold and Natural Resources plc
(“Conroy Gold” or the “Company”)
Placing &
Subscription of New Shares to raise £302,500
Conroy Gold and Natural Resources
plc (AIM:CGNR), the gold exploration and development Company
focused on Ireland and
Finland, is pleased to announce
the successful placing of 2,083,333 ordinary shares of €0.001 each
(“Ordinary Shares”) at a price of 12
pence per Ordinary Share (the “Placing Shares”) to raise
£250,000 (the “Placing”) before expenses.
The Placing has been arranged by Brandon Hill Capital Limited,
the Company’s broker (“BHC”).
The Company has also undertaken a subscription of 437,500
Ordinary Shares at a price of 12
pence per Ordinary Share (the “Subscription Shares”) to
raise £52,500 (the “Subscription”).
The Placing and the Subscription have been subscribed for by
certain existing shareholders and new investors.
The net proceeds of the Placing and the Subscription will be
used by the Company to undertake further exploration work at
Clontibret, Clay Lake and Glenish
along the Orlock Bridge Fault in Ireland and for general working capital
purposes. The Company intends to provide further details on its
2020 work programme in due course following receipt of funds from
the Placing and the Subscription and the preparation and approval
of a detailed budget.
Each subscriber to the Placing and Subscription will receive one
warrant for each Placing Share or Subscription Share, giving them
the right to subscribe for one new Ordinary Share at an exercise
price of 16 pence per Ordinary Share
for a period of nine months from Admission (the “Warrants”).
In addition, BHC will receive 114,583 Warrants.
The issue of the Placing Shares, the Subscription Shares and the
possible issue of new Ordinary Shares from the exercise of the
Warrants, are made under the Company’s existing share
authorities. An application will be made shortly for the
Placing Shares and the Subscription Shares to be admitted to
trading on the AIM market of the London Stock Exchange with effect
from 21 February 2020
(“Admission”).
In accordance with the FCA’s Disclosure Guidance and
Transparency Rules, the Company confirms that on completion of
the Placing and the Subscription, and
following Admission, the Company's enlarged
issued ordinary share capital
will comprise 26,213,872 Ordinary Shares. The
Company does not hold any Ordinary Shares in
Treasury. Therefore, following Admission, the above
figure may be used by shareholders in the Company as the
denominator for the calculations to determine if they are required
to notify their interest in, or a change to their interest in the
Company, under the FCA’s Disclosure Guidance and
Transparency Rules.
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 |
Nick Athanas/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