Canal+ Regulatory News (CAN)

20 Apr 2006 16:52

Central African Gold PLC20 April 2006 Central African Gold Plc / Ticker: CAN / Index: AIM / Sector: Mining & Exploration 20 April 2006 Central African Gold Plc ('CAG' or 'the Company') Raises £9 Million Central African Gold Plc, the AIM listed gold mining and exploration company,has raised £9,000,735 million through the placing of 100,008,167 new ordinaryshares of 0.1p each in the Company ("New Ordinary Shares") at 9p per share, withleading UK and international institutions and private investors. The proceedsof the placing will be used to develop its existing projects and acquire otherprojects in Africa that can be brought into production in the short to mediumterm. Central African Gold Plc Chairman Phil Edmonds said: "While the fund raisingsignificantly strengthens our investor base, it also enables us to rapidlyprogress our existing exploration portfolio as well as focus on securing newacquisitions in Africa that will transform us into a producing entity. "I believe that the new team headed by Greg Hunter will, using their proprietarytechnology, methodology and databases, truly add value to the Company. Theirfocused approach has already prioritised a potential hit list of futureacquisitions that may fulfil our investment criteria and generate near termrevenue. Our aim is to become a leading mid tier African focussed gold producerand exploration company and I believe we have now taken our first steps towardsachieving this." ** E N D S** Contacts: Hugo de Salis St. Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange