Proceeds to help implement more aggressive exploration drill program
By Devika Patel
Knoxville, Tenn., April 13 - Condor Resources plc said it completed a £3 million non-brokered private placement of shares.
The company sold 33,333,333 ordinary shares at 9p each to Macquarie Bank Ltd. The price per share is a 20% discount to the April 12 closing share price of 11.25p.
Proceeds will be used to implement a more aggressive exploration drill program on Condor's flagship La India Project in Nicaragua.
The gold and silver exploration company is based in London.
| Issuer: | Condor Resources plc
|
| Issue: | Ordinary shares
|
| Amount: | £3 million
|
| Shares: | 33,333,333
|
| Price: | 9p
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Investor: | Macquarie Bank Ltd.
|
| Settlement date: | April 13
|
| Stock symbol: | London: CNR
|
| Stock price: | 9.57p at close April 13
|
| Market capitalization: | £55.38 million
|
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