ISLE OF MAN, March 1, 2021 /CNW/ - Jim Mellon, of Viking
House, Nelson Street, Douglas,
Isle of Man, IMI 2AH, today
announced that on March 1, 2021, he
acquired, through Galloway Limited, a limited company that is
wholly-owned by Burnbrae Group Limited, which is in turn
wholly-owned by Mr. Mellon, 4,761,905 ordinary shares (the
"Ordinary Shares") of Condor Gold plc
("Condor" or the "Company"). The Ordinary Shares were
acquired by Mr. Mellon from the Company pursuant to a private
placement transaction at a price of £0.420 per Ordinary Share for a
total purchase price of £2,000,000.10 (approximately C$0.744 and C$3,541,600.18, respectively, based on the Bank
of Canada daily average exchange
rate on February 24, 2021). The Ordinary Shares were acquired
by Mr. Mellon on the same terms and as part of a larger
non-brokered private placement by the Company of 9,523,810 ordinary
shares (the "Private Placement") which closed on
March 1, 2021.
Prior to acquiring the Ordinary Shares, Mr. Mellon owned,
directly or indirectly, or exercised control or direction over,
20,289,463 ordinary shares in the capital of the Company
representing approximately 16.80% of the Company's issued and
outstanding ordinary shares. Immediately following the acquisition
of the Ordinary Shares and after giving effect to the Private
Placement, Mr. Mellon owned, directly or indirectly, or
exercised control or direction over, a total of 25,051,368
ordinary shares in the capital of the Company representing
approximately 19.20% of the Company's issued and outstanding
ordinary shares. Mr. Mellon owns and controls 22,161,485 of such
ordinary shares indirectly through Galloway Limited.
Mr. Mellon acquired the Ordinary Shares for investment purposes.
Mr. Mellon may from time to time acquire additional securities,
dispose of some or all of the existing or additional securities or
may continue to hold the securities of the Company.
Condor's head office is located at 7/8 Innovation Place, Douglas
Drive, Godalming, Surrey, GU7
1JX.
To obtain a copy of the early warning report filed under
applicable Canadian securities laws in connection with the
transactions hereunder, please see Condor's profile on the SEDAR
website www.sedar.com.
SOURCE Condor Gold plc