Vancouver, B.C., October 30, 2019 – Condor Resources Inc. – (“Condor” or the “Company”) (TSXV:CN) is pleased to announce that it has arranged a non brokered private placement to raise gross proceeds of up to $200,000. Closing is subject to regulatory approval, and is anticipated to occur within five business days.
The private placement will consist of 4 million units priced at $0.05 per unit, with each unit consisting of one common share and one share purchase warrant. Each warrant will be exercisable at $0.10 into one common share for a period of three years. No commissions or finder’s fees are payable on the private placement.
All of the securities issued pursuant to this private placement will be subject to a four month hold period. Proceeds will be used for working capital.
Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company’s Lima based exploration team.
ON BEHALF OF THE BOARD
Lyle Davis,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
