Nicaragua Milling acquires 10.4% stake in Condor Gold

On July 26, 2019, Condor Gold Plc (AIM: CNR) (TSX: COG) completed the second and final tranche of its previously announced placement of new ordinary shares and warrants to subscribe for ordinary shares. The tranche comprised a subscription for 9,842,520 new ordinary shares by Nicaragua Milling Company Limited, representing 10.4% of the resultant issued share capital. Admission to trading of the Nicaragua Milling shares is anticipated to occur on or around August 2, 2019.

Condor Gold, together with its subsidiaries, engages in the exploration of gold and silver properties in Nicaragua and is based in London, UK. Nicaragua Milling, based in Belize City, Belize, provides gold toll mining and production services and operates as a subsidiary of American Gold Mines Limited.

Gowling WLG advised Nicaragua Milling with respect to this transaction with a team led by France Tenaille in Toronto and Charles Bond and Kat McGriskin in London.