Cordoba Minerals Announces Closing of Private Placement
Cordoba Minerals Announces Closing of Private
Placement
TORONTO, ONTARIO, October 19, 2018: Cordoba Minerals Corp. (TSX-V:CDB;
OTCQX:CDBMF) (“Cordoba” or the “Company”) announced today that the non-brokered
private placement (the “Placement”) as announced on October 10, 2018 has closed.
Under the terms of the Placement, Cordoba has issued 26,605,128 units (“Units”) to its
majority shareholder, High Power Exploration Inc. (“HPX”), for gross proceeds to the
Company totalling US$2.0 million. Each Unit consists of one common share (“Share”) and
one common share purchase warrant (“Warrant”) of the Company. Each Warrant will entitle
the holder to purchase one Share at an exercise price of $0.13 per Share for a period of 24
months.
Cordoba will use the proceeds to advance regional exploration at Cordoba's 100%-owned
San Matias Copper-Gold Project in Colombia, to fund ongoing drilling activities at the
Perseverance copper porphyry project in Arizona, USA, and for general working capital
purposes.
The Shares and Warrants issued in connection with the Placement are subject to a statutory
four month hold period. The Placement remains subject to the final approval of the TSX
Venture Exchange.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the
exploration and acquisition of copper and gold projects. Cordoba is currently focused on its
100%-owned San Matias Copper-Gold Project, which includes the advanced-stage Alacran
Deposit, located in the Department of Cordoba, Colombia. Cordoba has also entered into a
joint venture and earn-in agreement to explore the Perseverance coppery porphyry project
located in Arizona, USA. For further information, please visit www.cordobaminerals.com.
About High Power Exploration
HPX is a private, metals -focused exploration and development company, investing in
mineral projects that have high potential for value uplift with HPX’s technology, industry
expertise, and capital.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.
For further information, please contact:
Evan Young, Director, Investor Relations
Email: [email protected]
Phone: +1 (647) 808-2141
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Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of
Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes “forward-looking statements” and “forward-looking information”
within the meaning of Canadian securities legislation. All statements included in this news
release, other than statements of historical fact, are forward-looking statements including,
without limitation: (i) all statements with respect to the use of proceeds of the Placement;
and (ii) final approval of the TSX Venture Exchange. Forward-looking statements include
predictions, projections and forecasts and are often, but not always, identified by the use of
words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”,
"’budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could”
or “might” occur or be achieved and other similar expressions and includes the negatives
thereof.
Forward-looking statements are based on a number of assumptions and estimates that,
while considered reasonable by management based on the business and markets in which
the Company operates, are inherently subject to significant operational, economic, and
competitive uncertainties, risks and contingencies. There can be no assurance that such
statements will prove to be accurate and actual results, and future events could differ
materially from those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations include actual exploration
results, interpretation of metallurgical characteristics of the mineralization, changes in project
parameters as plans continue to be refined, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business conditions, uninsured
risks, regulatory changes, delays or inability to receive required approvals, and other
exploration or other risks detailed herein and from time to time in the filings made by the
Company with securities regulators, including those described under the heading “Risks and
Uncertainties” in the Company's most recently filed MD&A. The Company does not
undertake to update or revise any forward-looking statements, except in accordance with
applicable law.