StockMarketWire.com - Condor Gold has announced a placing of 8,293,443 units at 62p apiece together with a proposed director's subscription of 161,290 units to raise gross proceeds of approximately £5.242m.

The placing has been undertaken by the company with institutional and other investors.

Each enit comprises one ordinary share and half of one share purchase warrant.

Each warrant will entitle the holder to purchase one ordinary share at a price of 93p (which is at a 50% premium to the placing price) for a period of 24 months from the date on which the shares issued pursuant to the placing are admitted to trading on AIM. The company said Ross Beaty has subscribed for £1m worth of Units and will increase his shareholding to 8.74% in the company's share capital on a post placement undiluted basis.

Beaty is a Canadian mining entrepreneur with a successful track record of both building mining companies and developing mineral deposits for sale.




At 8:52am: [LON:CNR] Condor Gold PLC share price was 0p at 65p



Story provided by StockMarketWire.com