Conroy Gold & Natural Resources Plc Issue of Convertible Loan Note to raise EUR250,000

 
TIDMCGNR 
 
15 July 2019 
 
 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET 
                    ABUSE REGULATION (596/2014/EU) ("MAR"). 
 
                     Conroy Gold and Natural Resources plc 
                       ("Conroy Gold" or "the Company") 
 
               Issue of Convertible Loan Note to raise EUR250,000 
 
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and 
development Company focused on Ireland and Finland, is pleased to announce that 
it has raised EUR250,000 through the issue of an unsecured convertible loan note 
("Convertible Loan Note") to Hard Metal Machine Tools Limited (the "Lender"). 
The Lender is a company 99% owned by Mr Philip Hannigan, an existing 
shareholder of the Company with a beneficial interest in 1,961,577 ordinary 
shares of EUR0.001 representing 8.28 per cent. of the current issued share 
capital of the Company. 
 
The net proceeds of the Convertible Loan Note will be used for general working 
capital purposes and exploration programme costs. 
 
Terms of the Convertible Loan Note 
 
The Company has entered into an unsecured convertible loan note agreement for a 
total amount of EUR250,000 with the Lender which have been created pursuant to a 
loan note instrument. The Convertible Loan Note has a term of three years and 
attracts interest at a rate of 5% per annum which is payable on the redemption 
or conversion of the Convertible Loan Note.  The Convertible Loan Note is 
unsecured. 
 
The Convertible Loan Note, including the total amount of accrued but unpaid 
interest, is convertible at the conversion price of GBP0.07. The Lender has the 
right to seek conversion at any time during the term of the Convertible Loan 
Note. 
 
Unless the Lender has given prior notice to convert, the Convertible Loan Note 
will be repaid immediately prior to the completion of an offer or agreement 
pursuant to which any person or those acting in concert acquires over 50% of 
the issued share capital of Conroy. 
 
The Lender shall be entitled, on serving written notice on the Company, to 
require the Company to redeem all or any part of the Convertible Loan Note at 
par on or after the three-year term of the Convertible Loan Note. 
 
A total of EUR 250,000 has been immediately drawn down by the Company under the 
Convertible Loan Note facility. 
 
The Lender's conversion rights are limited to the extent that the Company has 
adequate shareholder authority to convert. 
 
No application has been or will be made to any stock exchange for the listing 
of, or for permission to deal in, all or any of the Convertible Loan Note. 
 
For further information please contact: 
 
Conroy Gold and Natural Resources plc                Tel: [phone] 
 
Professor Richard Conroy, Chairman 
 
Allenby Capital Limited (Nomad)                      Tel: [phone] 
 
Nick Athanas/Nick Harriss 
 
Brandon Hill Capital Limited (Broker)                Tel: [phone] 
 
Jonathan Evans 
 
Lothbury Financial Services                          Tel: [phone] 
 
Michael Padley 
 
Hall Communications                                  Tel: [phone] 
 
Don Hall 
 
Visit the website at: www.conroygold.com 
 
 
 
END 
 

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July 15, 2019 02:59 ET (06:59 GMT)