Following the announcement released earlier today, Connemara is pleased to announce that John Teeling and James Finn have now subscribed for 2,906,977 and 872,093 new Ordinary Shares respectively for a total of 3,779,070 Ordinary Shares, amounting to £65,000, on the same terms as the Placing. 

As a result, the Company has now raised £200,000 by the issue of 11,627,907 Ordinary Shares.  The Placing Shares represent 13.3 per cent of the enlarged issued share capital of the Company.          

Application for Admission

The Placing Shares will rank paripassu with the existing Ordinary Shares.  Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission").  It is anticipated that Admission will be effective on 18^th August 2017.

Directors' shareholdings

As a result of the Placing the shareholdings of John Teeling and James Finn will be as set out in the table below:

Furthermore, as a result of the Warrants attached to the Placing Shares, the Company's directors hold warrants and/or options over the Company's ordinary shares as set out below:

Related Party Transaction

The subscription for placing shares and warrants by John Teeling and James Finn (the "Directors' Participation") is a related party transaction under the AIM Rules for Companies.  Gavin Berkenheger, Vivion Byrne and Danish Varma, the independent directors, having consulted with the Company's Nominated Adviser, Northland Capital Partners Limited, consider the terms of the Directors' Participation to be fair and reasonable in so far as the shareholders are concerned.   

Significant Shareholder

Paul and Michelle Johnson have subscribed for 1,453,488 of the Placing Shares and as a result have a beneficial interest in 8,603,488 ordinary shares of 1 cent each, representing 9.84 per cent of the Company's issued share capital as enlarged by the Placing.

Total Voting Rights

Following the Admission of the Placing Shares, there will be a total of 87,417,618 Ordinary Shares in issue with each share carrying the right of one vote.  The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Connemara is an active exploration company with principal assets in gold, zinc and lead exploration licences in Ireland.  The company holds interests in 35 licences and has joint ventures with Teck and Hendrick Resources.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

ENDS

Enquiries:

www.connemaramining.com