Cordoba Minerals Closes Second Tranche of Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Cordoba Minerals Closes Second Tranche of
Non-Brokered Private Placement
TORONTO, ONTARIO, March 4, 2019: Cordoba Minerals Corp. (TSX-V:CDB;
OTCQX:CDBMF) (“Cordoba” or the “Company”) is pleased to announce that on March 1,
2019 it completed the second tranche of its previously announced non-brokered private
placement (the “Offering”) (refer to Cordoba’s news releases dated February 14, 2019,
February 19, 2019, February 25, 2019). The final tranche of the Offering is expected to close
before March 6, 2019. In connection with the closing of this tranche of the Offering, the
Company has issued an aggregate of 6,800,000 units of the Company (the “Units”) at a price of
$0.10 per Unit for gross proceeds of $680,000. A total of 21,800,000 Units were placed in the
first two tranches of the Offering for total gross proceeds of $2,180,000.
Each Unit consists of one common share (“Share”) of the Company and one common share
purchase warrant (“Warrant”). Each Warrant entitles the holder, on exercise, to purchase one
Share for a period of 24 months following the closing date of the initial tranche of the Offering at
the exercise price of $0.12 per Share.
Net proceeds from the Offering will be used to advance exploration activities at the
Perseverance Project in Arizona, USA, where recent drilling has indicated proximity to a
Laramide porphyry copper system (refer to Cordoba’s news release dated January 21, 2019),
and will include continuation of drilling activities and preparation and permitting for geophysical
surveys, including HPX’s Typhoon™ technology. Remaining funds will be used for general
corporate purposes.
In connection with subscriptions received in the second tranche of the Offering, the Company
expects to pay aggregate finder's fees of $37,450. The securities issued pursuant to the
Offering will be subject to a four-month hold period. The Offering 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 copper porphyry project
located in Arizona, USA. For further information, please visit www.cordobaminerals.com.
2
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
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this press 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, all statements
regarding the timing and completion of the Offering; statements regarding the proposed use of proceeds
from the Offering; and statements regarding the aggregate finder's fees payable in connection with the
closing of the second tranche of the Offering. 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.