Business
Condor Resources Announces Life Offering Private Placement of up to $1.5 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Condor Resources Inc.
[{"type":"text","content":"Condor Resources Announces Life Offering Private Placement of up to $1.5 MillionNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / December 5, 2024 / Condor Resources Inc. (\"Condor\" or the \"Company\") (TSXV:CN) is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company (each, a \"Unit\") at a price of $0.15 per Unit (the \"Offering Price\") for gross proceeds of up to $1,500,000 (the \"LIFE Offering\") pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\" and such exemption, the \"Listed Issuer Financing Exemption\"). Each Unit will consist of (i) one common share of the Company (a \"Share\") and (ii) one-half of one non-transferable common share purchase warrant (a \"Warrant\"). Each whole Warrant will be exercisable for a period of 36 months from the Closing Date (as defined herein) (the \"Expiry Period\") and will entitle the holder thereof to purchase one additional common share (a \"Warrant Share\") prior to the expiry of the Expiry Period: (i) at an exercise price of $0.20 per Warrant Share if duly exercised during the Exercise Period on or before the date that is 24 months following the Closing Date; or (ii) at an exercise price of $0.25 per Warrant Share if duly exercised on or after the date immediately following the date that is 24 months following the Closing Date.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.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 Offering would be subject to an Exchange Hold Period of four months and a day in respect of securities issued.There is an offering document related to th...