StockMarketWire.com - Condor Gold has raised GBP2.6 million through a placing of 6,445,000 units with each unit comprising one ordinary share and two-thirds of one share purchase warrant.

Each warrant, which is unlisted, will entitle the holder to purchase one ordinary share at 60p (which is at a 50% premium to the placing price) for a period of 24 months from the date on which the placing shares are admitted to trading on AIM.

Canadian mining entrepreneur Ross Beaty subscribed for GBP1.5 million worth of units and will have a 7.18% shareholding in the company post placement on an undiluted basis. The investment follows a site visit and technical due diligence.

The company has agreed to a non-dilute clause for Beaty's shareholding.

The company also welcomes a specialist resource fund managed by an affiliate of Sprott Inc as a shareholder.


At 9:49am: [LON:CNR] Condor Gold PLC share price was +1.5p at 40.5p



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