19 November 2009
Conroy Diamonds and Gold P.l.c.
("Conroy" or "the Company")
Subscription to raise £250,000
Conroy (AIM: CDG) is pleased to announce that it has raised £250,000 by way of
a subscription for 7,142,857 new ordinary shares (the "Subscription Shares") at
3.5p each from T1ps Smaller Companies Growth Fund and T1ps Smaller Companies
Gold Fund. T1ps Smaller Companies Growth Fund and T1ps Smaller Companies Gold
Fund are both managed by T1ps Investment Management Limited, a subsidiary of
Rivington Street Holdings Limited.
The Company intends to use the proceeds of the share issue primarily to fund
the ongoing work programmes at its gold prospects in Ireland and for working
capital generally. In relation to the Company's gold prospects in Ireland the
Company has already outlined a JORC compliant resource of more than one million
ounces of near surface gold and more recently announced, in close (7km)
proximity to the discovery, a large gold-in-soil anomaly at Clay Lake which has
now had gold proven in bedrock together with an extensive zinc-in-soil-anomaly
to the south of Clay Lake with zinc-in-soil values ranging up to 4,047parts per
million zinc.
Professor Richard Conroy, Chairman commented:
"The funds we have raised will allow us to move the Clontibret gold project
forward whilst continuing ongoing work programmes at Clay Lake and other
prospects".
Following the admission of the New Shares to trading on AIM, the Company will
have a total of 142,864,487 shares in issue. On admission, T1ps Investment
Management Limited, as manager of T1ps Smaller Companies Growth Fund and T1ps
Smaller Companies Gold Fund, will be beneficially interested in 7,142,857
ordinary shares in the Company, equivalent to 5.00 per cent. of the issued
share capital. These shares are registered in the name of Bank of New York
Nominees.
Application has been made to the London Stock Exchange for the Subscription to
be admitted to trading on AIM and it is expected that admission will become
effective and trading will commence on 25 November 2009.
Enquiries:
Conroy Diamonds and Gold Plc
Professor Richard Conroy, Chairman +353 1 661 8958
Merchant John East Securities Limited (Nominated Adviser)
Simon Clements/Virginia Bull +44 20 7628 2200
City Capital Corporation Limited (Broker)
Charles Dampney +44 20 3178 3399
Lothbury Financial
Ron Marshman/Michael Padley +44 20 7011 9411
Further details on Conroy Diamonds and Gold can be found on its website at:
www.conroydiamondsandgold.com
Conroy Share Price
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