Condor Appoints Chris Buncic as President and CEO

Rhea-AI Summary

Condor Resources Inc. appoints Chris Buncic as President and CEO, succeeding Lyle Davis. Buncic brings over 24 years of experience in the mining industry and capital markets. The company also grants stock options and Performance Share Units to Buncic. Condor focuses on exploration in Peru with a project generator and royalty model.

VANCOUVER, BC / ACCESSWIRE / April 15, 2024 / Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to announce the appointment of Mr. Chris Buncic as the Company's new President and CEO, effective April 12, 2024. Mr. Buncic succeeds Mr. Lyle Davis, who will be retiring from his role as President and CEO effective April 12, 2024. Mr. Davis will continue as an active and engaged advisor during the transition of Mr. Buncic to the position of Condor's President and CEO.

Mr. Buncic is an accomplished executive with over 24 years in a diverse career that spans senior roles in the mining industry and capital markets. He was most recently a co-founder and CEO of Alto Verde Copper Inc., a private exploration company focused on copper assets in Chile that was last year acquired by Interra Copper Corp. Prior to that he was President and CEO of Ascendant Resources Inc. where the team acquired and restored profitability to the operating El Mochito mine in Honduras and greatly advanced the exploration efforts of the Lagoa Salgada project in Portugal. In his career, he has raised substantial capital across the capital structure, and has served on several boards of TSX, TSXV and CSE-listed companies. Prior roles saw him in Institutional Equity Research at several leading Canadian independent full-service brokerage firms. Mr. Buncic is a CFA Charterholder, has an MBA from Schulich School of Business and B.A.Sc. from the University of Toronto.

Graham H. Scott, Director of the Company, commented, "We are very pleased to have Chris join the management team of Condor as President and CEO, and look forward to his contributions as we continue to create value within the Company's project portfolio for the benefit of all shareholders." He continued, "The Board would like to extend its sincere thanks for the dedication that Lyle Davis has brought to the Company since he first became involved as a Director in 2005, and more recently for his leadership and prudent management as Condor's President and CEO. We wish him all the best in his new exploration project called retirement".

Concurrent with the appointment of Mr. Buncic, the Company announces the grant of 1,000,000 stock options at a price of $0.15 which will vest over 36 months, all of which shall be exercisable for a period of five years from the date of grant. Subject to the acceptance by the TSX Venture Exchange, Mr. Buncic will also be granted 2,000,000 Performance Share Units, which will vest over a period of three years.

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

Graham H. Scott
Director

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such 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.

SOURCE: Condor Resources Inc.

View the original press release on accesswire.com

FAQ

Who is the new President and CEO of Condor Resources Inc.?

Chris Buncic is the new President and CEO of Condor Resources Inc., effective April 12, 2024.

What is the background of Chris Buncic?

Chris Buncic has over 24 years of experience in the mining industry and capital markets. He was previously the co-founder and CEO of Alto Verde Copper Inc. and President and CEO of Ascendant Resources Inc.

What are the stock options granted to Chris Buncic?

Chris Buncic has been granted 1,000,000 stock options at a price of $0.15, vesting over 36 months and exercisable for five years from the date of grant.

What are the Performance Share Units granted to Chris Buncic?

Chris Buncic will be granted 2,000,000 Performance Share Units, vesting over a period of three years.

What is Condor Resources Inc.'s focus in terms of exploration?

Condor Resources Inc. is focused exclusively on Peru, with a project generator and royalty model designed to minimize shareholder dilution.