Vancouver, British Columbia (FSCwire) - Condor Resources Inc. - (“Condor” or the “Company”) (TSX.V: CN) announces that further to its news release of June 15, 2018, it has received gross proceeds of $172,500 from the exercise of 2,300,000 share purchase warrants at $0.075 per share pursuant to the Early Warrant Exercise Program (the “Incentive Program”).
As an incentive to exercise their warrants early, the exercising warrant holders received 2,300,000 share purchase warrants (the “Incentive Warrant”). Each Incentive Warrant entitles the holder to purchase one additional common share of the Company on or before July 8, 2019 at a price of $0.10 per share. Any shares acquired from exercise of the Incentive Warrant prior to November 7, 2018 will be subject to trade restrictions until November 7, 2018.
The balance of the 7,850,000 warrants not exercised under the Incentive Program will remain outstanding, and exercisable at $0.075 per share prior to October 10th, October 21st, or November 13th, 2018, as the case may be.
Net proceeds from the Incentive Program will be used to accelerate exploration programs at the Company’s Pucamayo project, as well as permitting applications at the Company’s Andrea and Huiñac Punta project, and general corporate purposes.
Condor is an explorer and project generator focused exclusively on Peru, 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
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.
