Business
Condor Announces Amendment to Private Placement
Condor Announces Amendment to Private Placement
About this update from Condor Resources Inc.
[{"type":"text","content":"\nCondor Announces Amendment to Private Placement\n\n\n Jun. 17, 2009 (TheNewswire.ca) -- VANCOUVER, B.C. - June 17, 2009, Condor Resources Inc. (TSXV:CN) (\"Condor\" or the \"Company\")(TSX.V: CN) announces that due to increased demand it has increased its private placement announced on June 15, 2009. Condor will now be raising gross proceeds of $500,000. The private placement will consist of up to 6,250,000 units at a price of $0.08 per unit, with each unit consisting of one common share and one non-transferable common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 for a period of two years from closing. Finders' fee's are payable on part of the placement.The net proceeds of this financing will be used for the exploration of the Company's Austral and Brahma projects in southern Chile and for working capital purposes.A hole, drilled by a third party on the Austral Property in February 2009, intersected significant copper and gold mineralization. Copper values were in every case anomalous, with numerous individual 1m core samples returning values of 1% to 1.1% Cu, and gold values ranging from negligible to 0.248 g/t Au. Detailed results can be found on the Company website (www.condorresources.com.).The private placement is subject to acceptance by the TSX Venture ExchangeCondor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of gold and copper projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long-term business plan offers shareholders access to a growing portfolio of properties, including six 100% owned projects in Chile and six in Peru, each providing a unique path to discovery.ON BEHALF OF THE BOARDPatrick J. Burns,President Chief Executive OfficerFor further information please contact the Company at 1-866-642-5707, or by email at: [email protected] Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading \"Risk Factors\" and elsewhere in the Company's periodic filings with Canadian securities regulatory authorities. Such information contained herein repres...