By Devika Patel
Knoxville, Tenn., Jan. 29 - Condor Resources Inc. said it increased a private placement of units to C$3.3 million from C$3 million. The deal priced Jan. 25.
The company will now sell 11 million units at C$0.30 apiece. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.40 for one year.
Dundee Securities Corp. is the agent.
Proceeds will be used for exploration and working capital.
Condor is a resource exploration company based in Vancouver, B.C.
Issuer: | Condor Resources Inc.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$3.3 million
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Units: | 11 million
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Price: | C$0.30
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.40
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Agent: | Dundee Securities Corp.
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Pricing date: | Jan. 25
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Upsized: | Jan. 29
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Stock symbol: | TSX Venture: CN
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Stock price: | C$0.365 at close Jan. 22
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Market capitalization: | C$12.8 million
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