Business
Issue of Equity
Issue of Equity.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n 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.\n 11 August 2020\n Conroy Gold and Natural Resources plc\n (“Conroy Gold” or the “Company”)\n Financing of £800,000\n Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce a placing and subscription to raise £800,000 (the “Financing”).\n FINANCING SUMMARY\n \n Placing and subscription of 3,200,000 ordinary shares of €0.001 each (the “Financing Shares”) at a price of 25 pence per Ordinary Share (the “Issue Price”) to raise £800,000 before expenses.\n \n \n Including the exercise of warrants announced on 31 July 2020, the Company has now secured gross proceeds in excess of £1,000,000 to bolster the Company’s working capital. The net proceeds of the Financing will be used to support activities in relation to the Company’s proposed joint venture (“JV”) with Anglo Asian Mining plc (“Anglo Asian”), announced by the Company on 21 July 2020, to advance the Company’s gold exploration activities in Finland and for general working capital purposes.\n \n \n Each Financing Share carries a warrant to subscribe for one ordinary share of €0.001 in the Company (“Ordinary Shares”) at a price of 35 pence per Ordinary Share (the “Financing Warrants”) exercisable for a period of two years from today’s date creating 3,200,000 Financing Warrants. \n \n \n Any warrant holder who exercises Financing Warrants within 6 months of today’s date will also be issued with, for every Financing Warrant exercised, an additional warrant to subscribe for one Ordinary Share at a price of 100 pence (£1.00) per Ordinary Share, again with a life to expiry ending two years from today’s date (the “Super Warrants”). If all Financing Warrants are exercised within 6 months of today’s date, 3,200,000 Super Warrants would be created.\n \n \n Should the volume weighte...