Cordoba Minerals Announces the Receipt of US$4 Million Bridge Financing from Ivanhoe Electric
Cordoba Minerals Announces the Receipt of
US$4 Million Bridge Financing from Ivanhoe
Electric
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2023) - Sarah Armstrong-Montoya, President
and Chief Executive Officer of
Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF)
(otherwise
"Cordoba" or the "Company"), is pleased to announce that the Company has received the previously
announced bridge financing of US$4 million in the form of a short-term convertible debenture (the
"Debenture") from Cordoba's majority shareholder, Ivanhoe Electric Inc.
The proceeds from the Debenture have been advanced to CMH Colombia S.A.S. ("CMH"), the joint
venture vehicle that owns 100% of the Alacran Project, in Colombia, for the joint-development with JCHX
Mining Management Co., Ltd. (refer to Cordoba's
news release dated October 4, 2023
).
The purpose of the Debenture is to ensure the Company can continue the advancement of the Feasibility
Study ("FS") and the Environmental Impact Assessment ("EIA") work programs at the Alacran Project,
and for general corporate purposes.
"With the ongoing backing of our majority shareholder, Ivanhoe Electric Inc., the FS technical work
program can continue to focus on the optimization of the Alacran Project, which is expected to improve
project economics and further enhance project value," commented Ms. Sarah Armstrong-Montoya,
President and CEO of Cordoba. "The EIA is also underway. We expect to have both items ready for the
next step by the end of this year."
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and
acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX
Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a
51% interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint
Venture and Earn-In Agreement. For further information, please visit
www.cordobaminerals.com
.
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
Ran Li +1-604-689-8765
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept 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, the Alacran
Project and development thereof. 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 Cordoba
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. Readers are cautioned not to
put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/183080