Condor Resources has named Francisco de Undurraga to its technical advisory board. The founder and chairman of FIP Ariston Cima, a private investment fund in Chile, de Undurraga is also a member of the board of Sundance Investment LLC. Headquartered in Vancouver, British Columbia, Condor is a mineral exploration company focused on South America.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 23, 2014) – Condor Resources Inc. (“Condor” or the “Company”) (TSX VENTURE:CN) is pleased to announce that Mr. Francisco de Undurraga has joined the Company’s Technical Advisory Board. Mr. de Undurraga is a resident of Santiago, Chile, a significant shareholder of the Company, and formerly served as a director.
Mr. de Undurraga is a member of the board of Sundance Investment LLC, a company controlled by Citigroup Venture Capital International (CVCI), operating in oil exploration in the Peruvian Amazonia since 2006. He is also the founder and Chairman of FIP Ariston Cima, a private investment fund based in Santiago, Chile, since 2004, and managed by BTG Pactal, one of the most important South American investment banks. Ariston Cima manages diversified investments in the forestry, real estate, oil and mining exploration and financial sectors. Mr. de Undurraga has had an extensive corporate executive career, holding positions as senior executive and CEO in several Chilean based companies that include Enersis and Laboratorio Chile, both with wide international operations in South America and listed on the Santiago Stock Exchange and NYSE as well. Mr. de Undurraga originally graduated as Civil-Industrial Engineer from the Universidad de Chile in Santiago, and subsequently graduated in Nuclear Engineering from the International Atomic Energy Agency (IAEA) in Madrid, Spain. He also graduated from the Stanford Executive Program at Stanford University in California.
In conjunction with his appointment to the advisory board, Mr. Undurraga has been granted 200,000 incentive options, with an exercise price of $0.12.
The Company currently has four of its properties under active exploration by third parties, and looks forward to a steady flow of results from these programs. In addition, the Company is actively seeking partners on its other projects, and reviewing new opportunities identified by its Lima based technical team.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer