Condor Resources Inc.: March 2017 Warrants - Accelerated Expiry
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 29, 2016) - Condor Resources Inc. - ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to announce that the conditions to trigger an accelerated expiry of the March 2017 warrants have been met. The last date to exercise is now Friday September 2, 2016, accelerated from the original expiry of March 27, 2017.
The March 2017 warrants were issued pursuant to a private placement which closed March 27, 2015, and have an exercise price of $0.05 per share. A total of 4.5 million warrants were issued, and to date 1.2 million of the warrants have been exercised. If the balance of the remaining 3.3 million warrants are exercised, the Company will receive funds of $165,000. Exercise is at the option of the warrant holder, and there are no assurances that any of the warrants will be exercised.
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
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.