Placing

RNS Number : 9717N

Connemara Mining Company plc

15 August 2017

 

15^th August 2017

Connemara Mining Company plc

("Connemara" or "the Company")

Placing

The board of Connemara Mining (AIM: CON) is pleased to announce that it has raised £135,000 by way of a placing of 7,848,837 new ordinary shares of €0.01 each in the Company ("Ordinary Shares") at a price of 1.72p per share (the "Placing Shares") (the "Placing").  For each Placing Share subscribed for, the investors are also receiving one warrant to subscribe for an additional Ordinary Share at a price of 3.4p per share at any time until 15^th August 2019. 

The net proceeds of the Placing will be used for working capital purposes.

Proposed Subscription by Directors

In addition to the Placing, the Board has been advised that John Teeling and James Finn, both directors of the Company, each intend to subscribe for 2,906,977 and 872,093 new Ordinary Shares respectively on the same terms as the Placing, following the announcement of the Placing.  

A further announcement will be made in due course.

Connemara is an active exploration company with principal assets in gold, zinc and lead exploration licences in Ireland.  The company holds interests in 35 licences and has joint ventures with Teck and Hendrick Resources.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

ENDS

Enquiries:

Connemara Mining Company Plc
John Teeling, Chairman	[phone]
Jim Finn, Director
Northland Capital Partners Limited
Matthew Johnson / Gerry Beaney	[phone]
John Howes
Blytheweigh	[phone]
Nick Elwes	[phone]
Camilla Horsfall	[phone]
Teneo PSG
Ciaran Flynn	[phone]
Alan Tyrrell	[phone]

www.connemaramining.com

 

END

 

 

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