Placing & Subscription of New Shares to rai...

About this update from Conroy Gold & Natural Resources Plc

[{"type":"text","content":"\n \n18 February 2020\n\nTHIS 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\nConroy Gold and Natural Resources plc\n\n(“Conroy Gold” or the “Company”)\n\nPlacing & Subscription of New Shares to raise £302,500\n\nConroy 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.\n\nThe Placing has been arranged by Brandon Hill Capital Limited, the Company’s broker (“BHC”).\n\nThe 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”).\n\nThe Placing and the Subscription have been subscribed for by certain existing shareholders and new investors.\n\nThe 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.\n\nEach 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.\n\nThe issue of the Placing Shares, the Subscription Shares and the possible issue of new Ordinary Shar...

More updates from Conroy Gold & Natural Resources Plc