Condor Announces $200,000 Financing
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/26/15 -- Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE: CN) is pleased to announce that it has arranged a non brokered private placement to raise gross proceeds of up to $200,000 (the "Offering"). The private placement will consist of up to 4,000,000 units at a price of $0.05 per unit (the "Units"), with each Unit consisting of one share and one non-transferable share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.05 until the second anniversary of the Closing. Warrants will be subject to an accelerated expiry: if the closing price equals or exceeds $0.10 per share for 10 consecutive trading days, then the exercise period of the Warrants shall be reduced to 30 days, with the reduced period commencing seven calendar days following the tenth consecutive trading day.
The Offering will be made available to accredited investors and existing shareholders of the Company, the latter in accordance within the provisions of the existing shareholder exemption (currently not available in Ontario, Newfoundland and Labrador).
All the securities issued pursuant to this private placement will be subject to a four (4) month hold period. Completion of the Offering is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange.
The net proceed of the Offering will be used for working capital.
Condor is a project generator focused exclusively on Peru and Chile, and our objective is the discovery of a major new precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration team.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
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.
Contacts:
Condor Resources Inc.
1-866-642-5707
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Datum: 26.02.2015 - 19:11 Uhr
Sprache: Deutsch
News-ID 374664
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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