Business
Condor Announces $15 Million Bought Deal Public Offering
BASE SHELF PROSPECTUS IS ACCESSIBLE, AND THE SHELF PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHI...
About this update from Condor Energies Inc
[{"type":"text","content":"Condor Announces $15 Million Bought Deal Public OfferingBASE SHELF PROSPECTUS IS ACCESSIBLE, AND THE SHELF PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS ON SEDAR+Calgary, Alberta--(Newsfile Corp. - April 13, 2026) - Condor Energies Inc. (TSX: CDR) (\"Condor\" or the \"Company\") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Research Capital Corporation, as co-lead underwriters and joint bookrunners (collectively, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a \"bought deal\" basis, 5,770,000 common shares of the Company (the \"Common Shares\") at a price of $2.60 per Common Share (the \"Offering Price\") for gross proceeds of up to $15,002,000 (the \"Offering\").The Company will grant the Underwriters an option to purchase up to an additional 865,500 Common Shares at the Offering price, exercisable at any time, for a period of 30 days after and including the Closing Date (as defined below), which, if exercised in full, would result in additional gross proceeds of approximately $2,250,300.The net proceeds of the Offering are expected to be used to continue development of the Company's natural gas fields in Uzbekistan, including enhancing field compression, and general corporate purposes.The Offering will be completed pursuant to an underwriting agreement to be entered into by the Company and the Underwriters. The Common Shares will be offered by way of a prospectus supplement (the \"Prospectus Supplement\") to the Company's short form base shelf prospectus dated March 18, 2026 to be filed in all provinces of Canada, other than Quebec. The Prospectus Supplement will contain important information about the Offering and will be filed within two business days. The Common Shares may also be offered by way of private placement in the United States and in offshore jurisdictions as agreed between the Company and the Underwriters.The Offering is anticipated to close on or about April 21, 2026 (the \"Closing Date\"), or such later date as the Underwriters and the Company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange (the \"TSX\").The Company has agreed to pay to the ...