Condor Resources Announces Grant of Stock Options and PSUS

Rhea-AI Summary

Condor Resources (CNRIF) has announced two key equity compensation grants. First, the company granted 2,000,000 performance share units (PSUs) to a holding company controlled by CEO Chris Buncic, which will vest through April 10, 2027, subject to performance criteria. Additionally, Condor granted stock options to various stakeholders: 2,500,000 shares at $0.20 and 500,000 shares at $0.12, both exercisable until June 17, 2030. These grants are subject to regulatory approval and vesting provisions under the company's Omnibus Equity Incentive Plan.

Positive

• Alignment of CEO interests with shareholders through performance-based PSUs
• Long-term commitment indicated by 5-year option expiration period

Negative

• Potential dilution from 5 million new equity instruments
• Multiple strike prices for options may indicate uncertainty in share price valuation

VANCOUVER, BC / ACCESS Newswire / June 18, 2025 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) announces that further to its news release dated April 15, 2024, Condor has granted 2,000,000 performance share units (each, a "PSU") to a holding company controlled by Mr. Chris Buncic, the Company's President and CEO, pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan"). Such PSUs will vest over a period of time beginning on the date of grant and ending on April 10, 2027 (inclusive), subject to the achievement of certain corporate and/or individual performance criteria.

Subject to regulatory approval and vesting provisions, and pursuant to the Plan, Condor has granted stock options to certain directors, officers, employees and consultants to purchase an aggregate of 2,500,000 common shares of the Company at a price of $0.20 and 500,000 common shares of the Company at a price of $0.12 until June 17, 2030.

About Condor Resources Inc.

Condor Resources is a precious and base metals exploration company focused on its portfolio of projects in Peru. The Company's flagship project, Pucamayo, is an 85 km² property containing a high sulfidation epithermal system with disseminated precious metals mineralization with a large lithocap alteration visible at surface. The Huiñac Punta project, a 7,200 Ha property in Huanuco, Peru, has the potential to host a large carbonate replacement style (CRD) silver-dominant polymetallic mineralized body with the potential for discovery of a bulk tonnage silver and base metals deposit. The Company has also optioned the Cobreorco project which targets gold-copper skarn and porphyry-style mineralization to a subsidiary of Teck Resources Limited. The Company's award-winning exploration team in Peru has a long history of success in discovering and advancing high quality exploration projects and managing the social aspects of its exploration activities.

For more information, please visit the Company's website at www.condorresources.com.

Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.

ON BEHALF OF THE BOARD

Chris Buncic
President & Chief Executive Officer

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

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements include, but are not limited to the Company's expectations with respect to the use of proceeds raised under the Offering.

Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties, including risks associated with the business of mineral exploration and development; continued availability of capital and financing; general political and economic conditions, fluctuations in metal prices and other market-related risks, including any volatility in the Company's share price, that may cause actual results, performance or developments to differ materially from those contained in such statements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements and forward-looking information. Condor does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

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.

SOURCE: Condor Resources Inc.

View the original press release on ACCESS Newswire

FAQ

How many PSUs did Condor Resources (CNRIF) grant to CEO Chris Buncic?

Condor Resources granted 2,000,000 PSUs to a holding company controlled by CEO Chris Buncic.

What is the expiration date for the stock options granted by Condor Resources?

The stock options granted by Condor Resources will expire on June 17, 2030.

What are the strike prices for Condor Resources' newly granted stock options?

Condor Resources granted options at two strike prices: 2,500,000 shares at $0.20 and 500,000 shares at $0.12.

When do the PSUs granted to Condor Resources' CEO vest?

The PSUs will vest over a period beginning from the grant date until April 10, 2027, subject to performance criteria.

How many total equity instruments did Condor Resources grant in this announcement?

Condor Resources granted a total of 5,000,000 equity instruments: 2,000,000 PSUs and 3,000,000 stock options.