Condor Announces Grant of Stock Options

Rhea-AI Summary

Condor Resources Inc. announces the grant of stock options totaling 4,575,000 shares at a price of $0.11 each, valid until December 5, 2027, subject to regulatory approval. The grants are aimed at directors, officers, employees, and consultants under the company's Stock Option Plan. Condor focuses on mineral exploration in Peru, utilizing a project generator and royalty model designed to minimize shareholder dilution while seeking major deposits of precious and base metals.

Positive

• Granting of stock options could incentivize management and employees, fostering commitment and alignment with shareholder interests.
• The company's focus on generating exploration capital while minimizing shareholder dilution is a strategic advantage.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 9, 2022 / Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) announces that subject to regulatory approval and vesting provisions, and pursuant to its Stock Option Plan, Condor has granted stock options to certain directors, officers, employees and consultants to purchase an aggregate of 4,575,000 common shares of the Company at a price of $0.11 until December 5, 2027.

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.

SOURCE: Condor Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/731189/Condor-Announces-Grant-of-Stock-Options

FAQ

What stock options did Condor Resources grant in December 2022?

Condor Resources granted stock options for 4,575,000 shares at $0.11 each, expiring on December 5, 2027.

How does Condor Resources plan to minimize shareholder dilution?

Condor employs a project generator and royalty model, allowing it to generate exploration capital while minimizing dilution.

What is Condor Resources' focus regarding exploration?

Condor Resources focuses on discovering major precious and base metals deposits, specifically in Peru.

Who are the recipients of the stock options granted by Condor Resources?

The stock options were granted to certain directors, officers, employees, and consultants of Condor Resources.