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Re: News Releases - Friday, January 29, 2010
Condor Increases size of Brokered Private Placement
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., January 29th, 2010 - Condor Resources Inc. - ("Condor"
or the "Company") (TSX.V: CN) is pleased to announce that, further to
its news release of January 25, 2010, and subject to regulatory
approval, it has increased its private placement with Dundee Securities
Corporation (the "Agent") from 10,000,000 units to 11,000,000 units
(the "Units") at a price of $0.30 per Unit for gross proceeds of up to
$3,300,000 (the "Offering"). Each Unit will be comprised of one common
share and one-half of one non-transferable common share purchase
warrant. Each full warrant will be exercisable into one common share of
the Company at an exercise price of $0.40 for a period of 12 months
from the closing date. All other terms of the private placement remain
the same.
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 providing 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 Fri Jan 29, 2010 at 9:14:05 AM 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$ 17.9 millions as of today (US$ 13.0 millions, € 11.9 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. |