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LONDON - Conroy Gold and Natural Resources plc (AIM:CGNR) announced Monday it has received investor commitments totaling £1,728,700 for its non-brokered private placement, exceeding the company’s initial fundraising target of £1.5 million.
The gold exploration and development company, which focuses on operations in Ireland and Finland, has closed the placement at the oversubscribed level. The private placement was priced at 10 pence per share, according to the company’s statement based on a press release.
Conroy Gold indicated the commitments came from both existing shareholders and new investors, primarily comprising long-term value investors from North America. The company stated these investors can contribute to the success of its "Discs of Gold" project.
The new ordinary shares issued through the placement will be subject to a restricted or ’lock-in’ period ending four months from their allotment date. Conroy Gold expects to receive the subscription funds in full by September 30, after which it will apply for admission of the new shares to trading on AIM.
The terms of the private placement were initially outlined in the company’s announcement dated September 12, 2025.
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