Conroy Gold and Natural Resources plc said it hoped to raise £2.25 million to fund its exploration projects and its proposed joint venture with Turkish miner Demir Export AS.
The metals mining company, focused on Ireland and Finland, will conduct a placing and subscription to raise some £1.87 million (before expenses).
Conroy Gold will also convert some £0.38 million of existing debt into new ordinary shares in the company (debt capitalisation) for a total financing of £2.25 million.
The placing and subscription will be for 5,670,449 ordinary shares of €0.001 each (ordinary shares) at a price of 33 pence per ordinary share to raise £1,871,249 before expenses (the financing shares).
In February, Conroy Gold signed a letter of intent (LOI) which could give Demir Export 57% of its gold exploration project on the Irish border. bityl.co/61Vy