CONDOR RESOURCES INC. : http://www.condorresources.com/ : QwikReport

News Releases

#November 12, 2019
Condor closes $200,000 Private Placement

 Vancouver, B.C., November 12, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to announce that it has closed the $200,000 private placement financing, as announced in our news release of October 30, 2019.

The private placement consisted of 4 million units priced at $0.05, with each unit consisting of one common share and one warrant. Each warrant is exercisable at $0.10 into one common share for a period of three years. No commissions or finder's fees were paid in connection with the private placement.

Proceeds from the private placement will be used for general corporate purposes.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis

President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#October 30, 2019
Condor Arranges $200,000 Private Placement Financing

 Vancouver, B.C., October 30, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to announce that it has arranged a non brokered private placement to raise gross proceeds of up to $200,000. Closing is subject to regulatory approval, and is anticipated to occur within five business days.

The private placement will consist of 4 million units priced at $0.05 per unit, with each unit consisting of one common share and one share purchase warrant. Each warrant will be exercisable at $0.10 into one common share for a period of three years. No commissions or finder's fees are payable on the private placement.

All of the securities issued pursuant to this private placement will be subject to a four month hold period. Proceeds will be used for working capital.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#June 07, 2019
Condor Makes Application to Extend Warrant Expiry Date

 Vancouver, B.C., June 7, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) has filed an application with the TSX Venture Exchange to extend the warrant expiry of 2,300,000 warrants until December 31, 2019, from their current expiry of July 8, 2019. The exercise price of $0.10 per share remains unchanged. The proposed amendment to the warrant expiry date is subject to regulatory approval.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#April 24, 2019
Condor Closes Sale of NSR to Chakana on Soledad Project, Peru

 Vancouver, B.C., April 24, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to announce that the agreement announced March 19th regarding the sale of a 1% NSR on Soledad to Chakana Copper Corp. (TSXV: PERU) ("Chakana") has closed. The agreement also includes amendments to the NSR terms of the Assignment and Option Agreement of April 2017, while all other terms, including the remaining cash payments of US$5.225 million, are unchanged. The Assignment and Option Agreement grants Chakana the right to acquire a 100% interest in Condor's Soledad concessions in Peru.

Condor received US$275,000 cash and 900,000 Chakana shares on closing; Condor now owns about 1.5% of Chakana's issued and outstanding shares.

Per the March 19, 2019 agreement, Chakana has been granted a 1% NSR on Condor's Soledad concessions. In the event Chakana does not exercise their option to acquire the Soledad concessions, Chakana will retain the 1% NSR royalty on the concessions, which royalty Condor will have the option to reduce to a 0.5% NSR by payment of US$1 million.

The amended NSR terms of the April 2017 Assignment and Option Agreement stipulate that on exercise of the purchase option by Chakana, Condor will retain a 1% NSR on the concessions and on a 2km area of influence. Previously, Condor retained a 2% NSR. Chakana will have the right to buy down Condor's NSR to a 0.5% NSR by further payment of US $1million. Pre-production NSR payments scheduled to commence in 2022 have been eliminated.

"We are very pleased to conclude this transaction, as we believe it improves the economic potential of Soledad, which will be of benefit to Condor, as both a royalty holder, and as a Chakana shareholder" noted Condor President Lyle Davis.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#March 19, 2019
Chakana Acquires 1% NSR from Condor on Soledad Project, Peru

 Vancouver, B.C., March 19, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to announce that Condor and Chakana Copper Corp. (TSXV: PERU) ("Chakana") have agreed to the acquisition of a 1% NSR by Chakana, and to amend the NSR terms of the assignment and option agreement of April 2017, whereby Chakana has the right to acquire a 100% interest in Condor's Soledad concessions in Peru.

Condor will receive 900,000 Chakana shares (current market value approximately CAD$385,000) and US$275,000 cash (CAD$365,000) in consideration for the 1% NSR granted to Chakana on the Soledad concessions. Under the amended terms of the April 2017 agreement, on exercise of the purchase option, Condor will retain a 1% NSR on the concessions, and on a 2km area of influence. Chakana will have the right to buy down Condor's NSR to a 0.5% NSR by further payment of US $1million. Pre-production NSR payments scheduled to commence in 2022 have also been eliminated. Chakana is aggressively exploring the Soledad Property, but has yet to publish an initial resource estimate.

In the event Chakana does not exercise their option to acquire the Soledad concessions, Chakana will retain a 1% NSR royalty on the concessions, which royalty Condor will have the option to reduce to a 0.5% NSR by payment of US$1 million. All other terms of the assignment and option agreement, including the remaining cash payments of US$5.225 million, are unchanged.

Commented Lyle Davis, Condor President and CEO, "We are pleased to monetize half of the inherent value of the NSR today, yet still maintain an NSR interest and a significant equity position in Chakana, and thereby the project. This amendment not only improves the long-term economics of the project, but gives us direct upside to the 20,000m drill program planned at Soledad for 2019."

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and development is managed by our Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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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