Strategic Financing and Business Update

About this update from Conroy Gold & Natural Resources Plc

[{"type":"text","content":"\n \nThe 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.\n\n21 December 2017\n\nConroy Gold and Natural Resources plc(“Conroy Gold” or “the Company”)\n\nStrategic Financing and Business Update\n\nConroy Gold and Natural Resources plc (AIM: CGNR) the gold exploration and development company focused on Ireland and Finland, is pleased to announce a strategic financing and business update for shareholders.\n\nHighlights:\n\n\nStrategic Financing with a conditional subscription to raise £1,000,000 (before expenses) through the issue of 7,843,137 new ordinary shares of €0.001 each in the capital of the Company (“Ordinary Shares”) at 12.75p per share (“Subscription Shares”), the market mid-price at the time of the financing agreement (the “Subscription”);\n\nCompletion is conditional on all resolutions being passed at the Company’s forthcoming Annual General Meeting (“AGM”) on 21 December and admission to trading of new subscription shares to AIM;\n\nFinancing terms agreed by all parties to ensure that funds raised will be predominantly focused on commercialisation of key projects through investment in asset development and associated ground exploration;\n\nEach Subscription Share has an attaching warrant to subscribe for a further new ordinary share at 22p (“Warrants”), with warrant accelerator available to the Company should the volume weighted average Ordinary Share price of the Company exceed 75p for five days or more;\n\nShould all Warrants be exercised the total amount of new capital raised for the Company through the Subscription and Warrant exercise would be approximately £2.7 million;\n\nStrategic Financing undertaken with SI Capital and a small group of high net worth investors, including Value Generation Limited, the family company of Paul Johnson, which has subscribed for £100,000 of Subscription Shares and Gervaise Heddle who has subscribed for £50,000 of the Subscription Shares;\n\nFinancing enables the Company to proactively recommence business development with a focus on commercialisation of key business interests and proactive ground exploratio...

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