LONDON, December 27, 2017
LONDON, December 27, 2017 /PRNewswire/ --
Condor Gold (AIM: CNR; OTCQX: CNFGF) is pleased to announce that it has received a receipt from the Ontario Securities Commission for its final non-offering prospectus (the "Prospectus") and has, accordingly, become a reporting issuer in the Province of Ontario.
As previously announced, Condor has received the conditional approval for the listing of its ordinary shares (the "Ordinary Shares") on the Toronto Stock Exchange ("TSX"). The Company expects that its Ordinary Shares will begin trading on the TSX in January 2018 under the symbol "COG".
The Company will remain listed on the AIM market of the London Stock Exchange and its shares trade on the OTCQX. Shareholders/Investors who wish to buy additional shares or sell existing holdings acquired through AIM can continue to do so in the normal manner. Once the Ordinary Shares begin trading on the TSX, shareholders who wish to trade on the TSX must have a Canadian broker. Shareholders who wish to sell existing shareholdings on the TSX must first transfer their holdings from Computershare's UK Share Register to Computershare's Canadian Share Register. Further information on this process will be provided on Condor's website.
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31 May 2006. The Company is a gold exploration and development company with a focus on Central America.
Condor published a Pre-Feasibility Study ("PFS") on its wholly owned La India Project in Nicaragua in December 2014, as summarized in the Technical Report (as defined below). The PFS details an open pit gold mineral reserve in the Probable category of 6.9 million tonnes ("Mt") at 3.0 grammes per tonne ("g/t") gold for 675,000 ounces ("oz") gold, producing 80,000 oz gold per annum for seven years. La India Project contains a mineral resource in the Indicated category of 9.6 Mt at 3.5 g/t for 1.08 million oz gold and a total mineral resource in the Inferred category of 8.5 Mt at 4.5 g/t for 1.23 million oz gold. The Indicated mineral resource is inclusive of the mineral reserve.
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.
The disclosure contained in this news release of a scientific or technical nature has been summarized or extracted from the Technical Report titled "Technical Report on the La India Gold Project, Nicaragua, December 2014", dated November 13, 2017 with an effective date of December 21, 2014 (the "Technical Report"), prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Technical Report was prepared by or under the supervision of Tim Lucks, Principal Consultant (Geology & Project Management), Gabor Bacsfalusi, Principal Consultant (Mining), Benjamin Parsons, Principal Consultant (Resource Geology), each of SRK Consulting (UK) Limited, and Neil Lincoln of Lycopodium Minerals Canada Ltd., each of whom is an independent Qualified Person as such term is defined in NI 43-101.
David Crawford, Chief Technical Officer of the Company and a Qualified Person as defined by NI 43-101, has approved the written disclosure in this press release.
Forward Looking Statements
Certain statements in this news release constitute forward-looking information under applicable Canadian securities laws. These statements relate to future events or future performance and include, but are not limited to, estimates of mineral resources and mineral reserves, the listing of Ordinary Shares on the TSX and benefits thereof, the date on which the Ordinary Shares will begin trading on the TSX, the ability of shareholders to trade their shares on the TSX, future gold production at the La India Project and the continued listing of the Company on AIM. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "objectives", "strategies", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws.
For further information please visit http://www.condorgold.com or contact:
Condor Gold plc
Mark Child, Chairman and CEO
+44 (0) 20 7493 2784
Beaumont Cornish Limited
Roland Cornish and James Biddle
+44 (0) 20 7628 3396
Numis Securities Limited
John Prior and James Black
+44 (0) 20 7260 1000
Tim Blythe, Camilla Horsfall and Megan Ray
+44 (0) 20 7138 3204