Conroy Gold and Natural Resources plc has raised €240,000 (£203,400) through the issue of unsecured and unlisted convertible loan notes to existing and new investors in the company.
CLONTIBRET
The conversion price for the CLNs is £0.10 per share, a 277% premium to the closing mid-market price of 2.65 pence for Conroy’s ordinary shares of €0.001 on 14 May 2025.
The CLNs have a term of three years and an interest of 7.5% per annum.
Participants on the fundraise include chairman John Sherman who subscribed for CLNs worth €40,000.
Substantial shareholder Philip Hannigan, holding 18.25% of Conroy, also participated through a subscription by Knockeader Investments Ltd for €50,000 of CLNs.
Mr Hannigan is a material shareholder in Knockeadar.
Proceed will go towards re-logging of drill core, construction of a more robust 3D geological model and follow-up antimony exploration at the Clontibret gold deposit in County Monaghan, Ireland.
Funds will also be used to continue discussions on investment with potential strategic and financial partners.