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Re: News Releases - Wednesday, January 20, 2010
Early Warrant Expiry Triggered
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Vancouver, B.C., January 20th, 2010 -- Condor Resources Inc. -
("Condor" or the "Company") (TSX.V: CN) announces that the Company's
share price has triggered the accelerated expiry of 2,010,000 share
purchase warrants with an exercise price of $0.20 per share. The
accelerated expiry was triggered by the Company's share price closing
at $0.27 or higher for ten consecutive trading days, such that the
expiry date has now been moved forward from July 26, 2010 to February
24, 2010.
Each warrant now entitles the holder to purchase one common share of
the Company at a price of $0.20 per share at any time up to 4:30 pm
Vancouver time on February 24, 2010. Any warrants that have not been
exercised on or before the new warrant expiry date will have been
deemed cancelled.
If all the warrants are exercised, the Company will receive $402,000 in
net proceeds, which will be allocated to general working capital.
Condor's President and CEO, Patrick J. Burns, states "The early
exercise of these warrants strengthens our balance sheet in the short
term, and improves our capital structure going forward."
About Condor Resources Inc.
Condor 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 objective is the
discovery of a major new gold and/or base metal deposit, and its
business plan offers shareholders access to an exciting and growing
portfolio of discovery stage properties, including six 100% owned
projects in Chile, and seven projects in Peru, each offering a unique
path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
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: 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 represents management's best judgment as of the date
hereof based on information currently available. The Company does not
assume the obligation to update any forward-looking statement.
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.
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Copyright (c) 2010 CONDOR RESOURCES INC. (CN) All rights reserved.
For more information visit our website at
http://www.condorresources.com/ or send mailto:news@condorresources.com
Message sent on Wed Jan 20, 2010 at 12:07:21 PM Pacific Time
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Condor Resources Inc.
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EXPLORATION STAGE |
CODE : CN.V |
ISIN : CA20676U1049 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Condor Res. is a silver and gold exploration company based in Canada. Condor Res. holds various exploration projects in Argentina, in Chile and in Peru. Its main exploration properties are CONDOR DE ORO, CHAVIN, LA LIBERTAD, PUCAMAYO, CONDORO and OCROS in Peru and EL DORADO ARGENTINA SALTA in Argentina. Condor Res. is listed in Canada and in United Kingdom. Its market capitalisation is CA$ 19.9 millions as of today (US$ 14.7 millions, € 13.2 millions). Its stock quote reached its highest recent level on February 04, 2011 at CA$ 3.70, and its lowest recent point on February 05, 2016 at CA$ 0.02. Condor Res. has 102 060 000 shares outstanding. |