Condor Gold plc (COG)

Condor Gold PLC: Notice of Convening Hearing for Scheme of Arrangement

Condor Gold PLC (AIM: CNR, TSX: COG, OTC: CNDGF) has announced it has issued a Part 8 Claim Form to the Companies Court, seeking an Order to convene a shareholder meeting on 6 January 2025. This meeting will enable shareholders to vote on the proposed Scheme of Arrangement with Metals Exploration plc.
Key Details:

Proposed Offer Terms:
$84.3M upfront consideration.
$28.8M in deferred payments linked to production milestones.
A 65% premium on recent trading prices for Condor shareholders.

Convening Hearing Date: 9 December 2024 (held online).

Scheme Benefits:
Leveraging Metals Exploration’s strong cash flow to accelerate the development of Condor’s fully permitted, high-grade reserves in Nicaragua.
Targeting increased annual gold production to 120,000 ounces.

Condor shareholders are entitled to attend or be represented at both the Convening Hearing and the subsequent Sanction Hearing (expected on 13 January 2025).

For more details, shareholders may contact the company secretary at cosec@condorgold.com or visit the official company announcements.

This Scheme represents a compelling opportunity for value creation and growth for both Condor and Metals Exploration shareholders.