|January 29, 2010|
Condor Increases size of Brokered Private Placement
|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: firstname.lastname@example.org
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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