Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said it has received £1mln via a warrant exercise by Burnbrae Group, a vehicle owned by its chairman and major shareholder Jim Mellon.
The warrants were exercised at 15p and will increase Mellon’s stake in the Nicaragua-focused gold group to 22.99%.
Denham Eke, a non-executive director of Condor, is also a director of the Burnbrae Group.
Shares in Condor closed last night at 22.75p.