VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2013) - Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) announces that it has made application for regulatory approval to amend the term and the exercise price of the 1.5 million share purchase warrants issued with a private placement that closed September 3, 2010. The Company is requesting approval to extend the term of the warrants by one year from their current expiry date of September 3, 2014. The Company is also seeking approval to amend the exercise price from its current level of $0.40 per share, to a new exercise price of $0.12 per share. The 1.5 million share purchase warrants are held by companies controlled by a former director of the Company.
As a result of extension of the term of the warrants, and the change to the exercise price of the warrants, each warrant will now entitle the holder to purchase one common share of the Company at the price of $0.12 per share at any time up to 4:00 pm Vancouver time on September 3, 2015. As at today's date, none of the warrants have been exercised.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
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.
Contact Information:
1-866-642-5707
info@condorresources.com