Condor Energies Inc. (TSX: CDR) (OTC: CNPRF) said it expects the closing of its previously announced financing to occur on October 15, 2026, or such other date as the company and its agents agree. The financing is intended to raise combined gross proceeds of up to C$70,000,000.
It combines a public offering of up to C$25,000,000 and a concurrent non-brokered private placement of up to C$45,000,000, in each case consisting of 12% unsecured convertible debentures of the company priced at C$1,000 per debenture. Research Capital Corporation is acting as co-lead agent and sole bookrunner for the public offering, with Canaccord Genuity Corp. acting as co-lead agent.
The public offering is being made under Condor's existing base shelf prospectus and a shelf prospectus supplement, both filed with securities regulators and accessible on SEDAR+. The release said the debentures are not being offered or sold in the United States or to U.S. persons and have not been registered under the U.S. Securities Act of 1933.
The release does not state how many debentures will be issued under either component of the financing, nor does it disclose a use of proceeds, a resale hold period, or any closing conditions beyond the expected date and the parties' ability to agree on a different one.
Today's release updates the timing of a financing Condor had previously announced; it restates the price, size and parties involved but does not restate the full terms of that earlier announcement.