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LONDON (Alliance News) - Condor Gold PLC on Monday said it raised further GBP750,000 in the second tranche of a private placement of shares announced at the beginning of February.
The second and final tranche of the placing, which has now closed, comprised of a subscription for 3.1 million shares by Jim Mellon, a non-executive director of Condor.
Mellon now owns a 10.5% stake in the company.
Each new share issued as part of the placement will have attached to it one half of a warrant with an exercise price of 31 pence per warrant and a validity of 2 years from the issue.
The company expects admission of the new shares on Tuesday after which it will have 74.5 million shares in issue.
The first tranche of the placing, concluded at the beginning of February, saw the company raise GBP1.8 million via the issue of 7.3 million shares at a price of 24p each.
Shares in Condor Gold were trading down 0.7% at 25.08p each.
