Conroy Gold & Natural Resources Plc Issue of Equity
28 August 2018 - 4:00PM
UK Regulatory
TIDMCGNR
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 GBP500,000 (EUR556,545)
* Placing of 3,636,365 new ordinary shares at 13.75 pence per share to raise
GBP500,000 (EUR556,545)
* 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 GBP500,000 (EUR556,545), through a Placing (the
"Placing") of 3,636,365 ordinary shares of EUR0.001 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 EUR0.001 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
END
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