Cordoba Minerals Announces the Receipt of US$4 Million Joint Venture Funding from JCHX
Cordoba Minerals Announces the Receipt of
US$4 Million Joint Venture Funding from JCHX
Vancouver, British Columbia--(Newsfile Corp. - November 8, 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 CMH Colombia S.A.S., the
joint venture vehicle that owns 100% of the Alacran Project, in Colombia, has received the previously
announced joint venture funding of US$4 million in the form of a short-term loan (the "Loan") from a
subsidiary of JCHX Mining Management Co., Ltd. ("JCHX") (refer to Cordoba's
news release dated
October 4, 2023
).
The Loan bears simple interest at 12% per annum and payable on its maturity date, which is the earlier
of (i) 12 months after the date of the loan agreement, and (ii) the date the second installment of US$40
million becomes payable by JCHX under the US$100 million strategic arrangement (refer to Cordoba's
news release dated December 8, 2022
). If the maturity date occurs as the date of the second
installment, the outstanding amount under the Loan may be deducted from the second installment.
The proceeds from the Loan will be used to ensure continued advancement of the Alacran Project, and
for general corporate purposes.
"With the support from our joint venture partner, JCHX, the Alacran Project is well underway towards the
completion of its Feasibility Study and Environmental Impact Assessment," commented Ms. Sarah
Armstrong-Montoya, President and CEO of Cordoba.
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/186603