GBH Advises Condor Gold on Private Placement
GBH Law has advised long standing AIM listed client Condor Gold Plc on its recently announced placing of new ordinary shares.
As Mark Child, Chairman and CEO of Condor Gold, explained: “Condor Gold has conducted a private placement, issuing new ordinary shares representing 7.9% of the Company’s existing issued share capital, to raise gross proceeds of £4.0 million…. The Placement has been conducted quickly following an offer by Jim Mellon, Condor’s largest shareholder, to invest a further £2 million in the Company. The Board decided to accept further £2 million primarily from existing shareholders. The placement proceeds will be used to advance the La India Project towards production and expand the gold mineral resource.”
Kate Doody commented: “It was a pleasure to work with Mark on this placing (which is the seventh placing we have advised Condor Gold on) and I’m delighted that we were able to turn this around so quickly for the company.”