Conroy gold raises €556,000 for the further development of the field, Monaghan

  • Conroy gold raises €556,000 for the further development of the field, Monaghan
    Independent.t. E.
    The study of natural resources Conroy gold raised £500,000 (€556,545) to embed.
    https://www.independent.ie/business/irish/conroy-gold-raises-556000-to-further-develop-monaghan-deposit-37260126.html
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The study of natural resources Conroy gold raised £500,000 (€556,545) to embed.

The proceeds of the offering will be used to promote gold assets of the company, in particular the development of its Clontibert Deposit in County Monaghan.

Funds will also be used to Fund exploration prospects for gold company in 65 km from Armagh-Monaghan-Cavan gold belt, and for working capital in General, the company said in a statement.

“I am pleased to report that this placement will allow the momentum achieved excellent drilling results, we recently reported will continue in the coming months”, – Professor Richard Conroy, Chairman, Conroy gold said.

The company placed 3,636,365 ordinary shares of $ 0.001 in the capital of the company (“placing shares”) at a price of 13.75 pence per placing share.

Accommodation is a condition of admission to the placement shares to trading on AIM.

The newly placed shares will have equal rank with the outstanding common shares in the amount of 0.001 in the capital of Conroy gold.

The statement was made with the aim of placing shares will be admitted to trading. It is expected that admission will become effective on August 31, 2018.

The next question is about placement of shares, the total issued share capital of the company on admission will consist of 23,693,039 ordinary shares.

Last year the company was embroiled in litigation after Patrick O’sullivan, a minority shareholder, said that he and two of his nominees were wrongfully terminated from membership of the Board of Directors at an extraordinary shareholders meeting in August.

Conroy gold was successful against Mr. O’sullivan in the production and costs were awarded to the company where you can stay on that order pending appeal.

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