Treelawn Investment Corp.

May 30, 2006 15:33 ET

Treelawn Investment Corp.: Pursuant to National Instrument 62-103 in Compliance with Applicable Securities Legislation in Ontario

TORONTO, ONTARIO--(CCNMatthews - May 30, 2006) - Treelawn Investment Corp. (the "Offeror") announces that it has entered into a debt settlement agreement with Condor Gold Corp. (the "Corporation") pursuant to which the Offeror has received 29,070,857 common shares of the Corporation as a result of the conversion of $508,740 of debt at a price of $0.0175 per share. Prior to the completion of the debt settlement, Treelawn did not own any common shares of the Corporation. Treelawn's ownership of 29,070,857 common shares represents 14.13% of the total outstanding share capital of the Corporation which is 205,739,482 common shares. The transaction was effected for investment purposes.

The Offeror may, depending on market and other conditions, each increase or decrease their respective beneficial ownership, control or direction over the common shares of the Corporation, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

The Offeror has filed a report describing the above acquisition with the Ontario Securities Commission, a copy of which shall be sent promptly to anyone who requests it from the person noted below.

The information herein has not been approved or disapproved by regulatory authorities.

Contact Information

  • Treelawn Investment Corp.
    Jeff Wood
    (416) 213-1011