Cordoba Minerals Announces the Receipt of US$40 Million Joint Venture Funding from JCHX
Cordoba Minerals Announces the Receipt of
US$40 Million Joint Venture Funding from
JCHX
Vancouver, British Columbia--(Newsfile Corp. - January 4, 2024) - 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 second installment of US$40 million from a subsidiary of JCHX Mining Management Co., Ltd.
("JCHX") pursuant to the Strategic Framework Agreement ("Strategic Agreement") between JCHX and
Cordoba for the joint-development of the Company's flagship Alacran Project in Colombia (refer to
Cordoba's news release dated
December 18, 2023
).
In accordance with the Strategic Agreement, JCHX has advanced the second installment of US$40
million that was payable upon the completion of a Cordoba board approved Feasibility Study and the
filing of the Environmental Impact Assessment application. Part of the proceeds was used to repay the
US$4 million bridge financing that was previously provided by the Company's majority shareholder
Ivanhoe Electric Inc. in the form of a short-term convertible debenture (refer to Cordoba's news release
dated
October 4, 2023
). Part of the of proceeds will be used to repay the short-term loan of US$4 million
from JCHX (refer to Cordoba's news release dated
November 8, 2023
). The remaining proceeds from
the second installment will be used to continue the development of the Alacran Project and for general
corporate purposes.
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/193110