Cordoba Announces Completion of Transaction with High Power Exploration Inc. and Conversion of Subscription Receipts Issued in C$10 Million Offering
Cordoba Announces Completion of Transaction with High Power Exploration Inc.
and Conversion of Subscription Receipts Issued in C$10 Million Offering
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, CANADA, July 31, 2017: Cordoba Minerals Corp. (“Cordoba” or the “Company”)
(TSX-V: CDB; OTCQX: CDBMF) is pleased to announce that it has completed the previously
announced acquisition (the “Transaction”) from High Power Exploration Inc. (“HPX”) of its 51%
interest in the San Matias Joint Venture through the acquisition of the shares of HPX Colombia
Ventures Ltd., a wholly -owned subsidiary of HPX, and the other transactions contemplated in
the share purchase agreement dated June 13, 2017.
On July 11, 2017, t he Company completed a bought deal private placement offering (the
“Offering”) of subscription receipts (the “Subscription Receipts”). BMO Capital Markets acted
as the lead underwriter for a syndicate of underwriters including Sprott Private Wealth LP and
Haywood Securities Inc. Each Subscription Receipt was sold at a price of C$0.81, for aggregate
gross proceeds of approximately C$10 million, and entitled the holder thereof to receive one
common share in the capital of the Company (each, a “ Common Share”) and one-half of one
common share purchase warrant (each whole common share purchase warrant, a “ Warrant”)
upon closing of the Transaction. Each Warrant will be exercisable to acquire one common share
of the Company (each, a “ Warrant Share”) at a price of C$1.08 per Warrant Share, until July
11, 2019, subject to adjustment in certain events.
In connection with the Transaction, HPX was issued an aggregate of 137,416,746 Common
Shares and 6,182,311 Warrants. O ne Common Shar e and one- half of one Warrant will be
issued in exchange for each outstanding Subscription Receipt issued in connection with the
Offering, resulting in the issuance of an aggregate 12,346,000 Common Shares and 6,173,000
Warrants.
All securities issued pursuant to the Offering are subject to a statutory hold period of four
months from July 11, 2017.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto- based mineral exploration company focused on the
exploration and acquisition of copper and gold projects in Colombia. Cordoba is currently
focused on the highly prospective, district-scale San Matias Copper-Gold Project located at sea
level with excellent infrastructure and near operating open- pit mines in the Departmen t of
Cordoba. For further information, please visit www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President & CEO
Cordoba Minerals Corp.
Email: [email protected]
Website: www.cordobaminerals.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of
Canada accepts responsibility for the adequacy or accuracy of this release.