Condor Resources Announces Life Offering Private Placement of Up to $1.5 Million
Condor Resources (TSXV:CN) has announced a non-brokered private placement offering of up to 12.5 million units at $0.12 per unit, aiming to raise gross proceeds of up to $1.5 million. Each unit comprises one common share and one-half of a non-transferable warrant.
The warrants are exercisable for 36 months with a tiered structure: $0.15 per share if exercised within 24 months, increasing to $0.20 thereafter. The proceeds will fund exploration at the Huinac Punta Project, the Pucamayo Project, and general corporate purposes.
The offering, expected to close around April 30, 2025, will be available in all Canadian provinces except Quebec. Company insiders may participate, subject to a four-month hold period. Eligible finders may receive up to 8% cash fee and 8% Finder's Warrants.
Condor Resources (TSXV:CN) ha annunciato un'offerta di collocamento privato non intermediato fino a 12,5 milioni di unità a $0,12 per unità, con l'obiettivo di raccogliere proventi lordi fino a $1,5 milioni. Ogni unità è composta da una azione comune e da una metà di un warrant non trasferibile.
I warrant sono esercitabili per 36 mesi con una struttura a livelli: $0,15 per azione se esercitati entro 24 mesi, aumentando a $0,20 successivamente. I proventi finanzieranno l'esplorazione presso il Progetto Huinac Punta, il Progetto Pucamayo e scopi aziendali generali.
L'offerta, prevista per chiudere intorno al 30 aprile 2025, sarà disponibile in tutte le province canadesi tranne il Quebec. I membri interni dell'azienda possono partecipare, soggetti a un periodo di blocco di quattro mesi. I cercatori idonei possono ricevere fino all'8% di commissione in contante e 8% di Warrant del Cercatore.
Condor Resources (TSXV:CN) ha anunciado una oferta de colocación privada no intermediada de hasta 12,5 millones de unidades a $0,12 por unidad, con el objetivo de recaudar ingresos brutos de hasta $1,5 millones. Cada unidad comprende una acción común y media garantía no transferible.
Las garantías son ejercitables durante 36 meses con una estructura escalonada: $0,15 por acción si se ejercen dentro de 24 meses, aumentando a $0,20 después. Los ingresos financiarán la exploración en el Proyecto Huinac Punta, el Proyecto Pucamayo y propósitos corporativos generales.
Se espera que la oferta cierre alrededor del 30 de abril de 2025 y estará disponible en todas las provincias canadienses excepto Quebec. Los miembros internos de la empresa pueden participar, sujeto a un período de bloqueo de cuatro meses. Los buscadores elegibles pueden recibir hasta un 8% de comisión en efectivo y un 8% de Garantías del Buscador.
콘도르 리소스 (TSXV:CN)은 중개인 없이 최대 1250만 개의 유닛을 유닛당 $0.12에 제공하는 사모 배급을 발표하였으며, 최대 $150만 달러의 총 수익을 목표로 하고 있습니다. 각 유닛은 하나의 보통주와 비양도성 워런트의 절반으로 구성됩니다.
워런트는 36개월 동안 행사 가능하며 단계별 구조를 가지고 있습니다: 24개월 이내에 행사할 경우 주당 $0.15, 그 이후에는 $0.20로 증가합니다. 수익금은 후이낙 푼타 프로젝트, 푸카마요 프로젝트 및 일반 기업 목적을 위한 탐사를 지원하는 데 사용됩니다.
이 제안은 2025년 4월 30일경에 마감될 예정이며, 퀘벡을 제외한 모든 캐나다 주에서 이용할 수 있습니다. 회사 내부자는 4개월의 보유 기간을 조건으로 참여할 수 있습니다. 적격 중개인은 최대 8%의 현금 수수료와 8%의 중개인 워런트를 받을 수 있습니다.
Condor Resources (TSXV:CN) a annoncé une offre de placement privé non intermédiée allant jusqu'à 12,5 millions d'unités à 0,12 $ par unité, visant à lever des produits bruts allant jusqu'à 1,5 million $. Chaque unité se compose d'une action ordinaire et d'une demi-option non transférable.
Les options sont exerçables pendant 36 mois avec une structure par paliers : 0,15 $ par action si exercées dans les 24 mois, augmentant à 0,20 $ par la suite. Les produits financeront l'exploration du Projet Huinac Punta, du Projet Pucamayo et des objectifs d'entreprise généraux.
L'offre, qui devrait se clore autour du 30 avril 2025, sera disponible dans toutes les provinces canadiennes sauf le Québec. Les initiés de l'entreprise peuvent participer, sous réserve d'une période de blocage de quatre mois. Les chercheurs éligibles peuvent recevoir jusqu'à 8 % de frais en espèces et 8 % d'options de recherche.
Condor Resources (TSXV:CN) hat eine nicht vermittelte Privatplatzierung von bis zu 12,5 Millionen Einheiten zu je 0,12 $ pro Einheit angekündigt, mit dem Ziel, Bruttoeinnahmen von bis zu 1,5 Millionen $ zu erzielen. Jede Einheit besteht aus einer Stammaktie und einer halben nicht übertragbaren Optionsschein.
Die Optionsscheine sind für 36 Monate mit einer gestaffelten Struktur ausübbar: 0,15 $ pro Aktie, wenn sie innerhalb von 24 Monaten ausgeübt werden, danach auf 0,20 $ steigend. Die Einnahmen werden die Erkundung des Huinac Punta Projekts, des Pucamayo Projekts und allgemeine Unternehmenszwecke finanzieren.
Die Platzierung wird voraussichtlich um den 30. April 2025 abgeschlossen sein und ist in allen kanadischen Provinzen außer Quebec verfügbar. Unternehmensinsider können teilnehmen, vorbehaltlich einer viermonatigen Haltefrist. Berechtigte Finder können bis zu 8% Barvergütung und 8% Finder-Optionsscheine erhalten.
- Secured potential funding of up to $1.5 million for exploration activities
- 36-month warrant term provides long-term funding flexibility
- No hold period for most Canadian investors, improving liquidity
- Potential dilution for existing shareholders
- 8% finder's fees reduce net proceeds available for exploration
- Tiered warrant structure could create selling pressure at price thresholds
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / April 14, 2025 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to announce a non-brokered private placement of up to 12,500,000 units of the Company (each, a "Unit") at a price of
The Company intends to use the net proceeds raised from the LIFE Offering for exploration at the Huinac Punta Project, the Pucamayo Project, and for general corporate purposes.
Chris Buncic, President and CEO, commented, "We are excited to come back to market to fund the next phase of growth for Condor. This financing marks the beginning of a dynamic and promising period for the Company, and we look forward to reporting on our progress on several fronts over the coming months".
Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Units sold pursuant to the LIFE Offering will be offered in all Provinces of Canada except Québec pursuant to the Listed Issuer Financing Exemption. Subject to the rules and policies of the TSX Venture Exchange (the "TSXV"), the securities issuable from the sale of Units to Canadian resident subscribers will not be subject to a hold period under applicable Canadian securities laws. Insiders and certain consultants that participate in the LIFE Offering would be subject to a four-month hold period in respect of securities issued pursuant to applicable policies of the TSXV.
There is an offering document related to the LIFE Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at https://condorresources.com. Prospective investors should read this offering document before making an investment decision.
It is expected that closing of the LIFE Offering will take place on or about April 30, 2025 or such other date(s) as may be determined the Company (the "Closing Date"). Closing of the LIFE Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including the approval of the TSXV.
It is anticipated that insiders of the Company may participate in the LIFE Offering, and such Units issued to insiders will be subject to a four month hold period pursuant to applicable policies of the TSXV. The issuance of Units to any insiders will be considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). In respect of any such insider participation, the Company expects to rely on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a), as the fair market value of the transaction, insofar as it involves interested parties, does not exceed
As consideration for services, certain eligible finders may receive (i) an aggregate cash fee equal up to
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Condor Resources Inc.
Condor Resources is a precious and base metals exploration company focused on its portfolio of projects in Peru. The Company's flagship project, Pucamayo, is an 85 km2 property containing a high sulfidation epithermal system with disseminated precious metals mineralization with a large lithocap alteration visible at surface. The Huiñac Punta project, a 7,200 Ha property in Huanuco, Peru, has the potential to host a large carbonate replacement style (CRD) silver-dominant polymetallic mineralized body with the potential for discovery of a bulk tonnage silver and base metals deposit. The Company has optioned several large projects to partners who continue to advance these projects. The Company's award-winning exploration team in Peru has a long history of success in discovering and advancing high quality exploration projects and managing the social aspects of its exploration activities.
For more information, please visit the Company's website at www.condorresources.com.
Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.
ON BEHALF OF THE BOARD
Chris Buncic
President & Chief Executive Officer
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. Such forward-looking statements include, but are not limited to the Company's expectations with respect to the use of proceeds and the use of the available funds following completion of the LIFE Offering and statements respecting completion of the LIFE Offering and receipt of all regulatory approvals in respect of the LIFE Offering, including approval of the TSXV.
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, including risks associated with the business of mineral exploration and development; continued availability of capital and financing; general political and economic conditions, fluctuations in metal prices and other market-related risks, including any volatility in the Company's share price, that may cause actual results, performance or developments to differ materially from those contained in such statements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements and forward-looking information. Condor does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
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 ACCESS Newswire
FAQ
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