Cordoba Minerals Completes Strategic Equity Investment of C$11 Million from JCHX
Cordoba Minerals Completes Strategic Equity Investment of
C$11 Million from JCHX
VANCOUVER, BRITISH COLUMBIA, January 17, 2020: Cordoba Minerals Corp. (TSX-
V:CDB; OTCQB:CDBMF) (“Cordoba” or the “Company”) announced today the completion of the
strategic equity investment totalling approximately C$11 million by JCHX Mining Management
Co., Ltd. (“JCHX”).
Cordoba has issued 91,372,536 common shares to JCHX through a private placement at a price
of C$0.12 per share. With the completion, JCHX now owns approximately 19.9% of Cordoba’s
issued and outstanding common shares, and High Power Exploration Inc. (“HPX”) remains
Cordoba’s majority shareholder owning approximately 60%.
Cordoba intends to use the proceeds for completing work required to secure mining approvals at
the San Matias Copper-Gold-Silver Project in Colombia; to further explore in the San Matias
district and at the Perseverance Copper Project in Arizona, USA; and for working capital and
general corporate purposes.
The shares issued to JCHX are subject to a four month and one day hold period, which expires
on May 17, 2020.
“We welcome JCHX as a major shareholder in our Company,” stated Eric Finlayson, President
and CEO of Cordoba and President of HPX. “Further information on our 2020 work programs at
San Matias and Perseverance will be announced shortly.”
JCHX’s President Peng Huaisheng joins Cordoba Board
Pursuant to the terms of the investor rights agreement with JCHX, JCHX has nominated and
Cordoba has accepted JCHX’s nomination of Dr. Peng Huaisheng to the Cordoba Board of
Directors. Dr. Peng currently serves as a director of JCHX and President of JCHX Group Co., Ltd.
(“JCHX Group”). The new appointment expands the Cordoba Board of Directors to five members.
Dr. Peng is a professional mining engineer and holds a Bachelor’s degree from Northeast
University in Shenyang, Liaoning, an EMBA from Tsinghua University in Beijing and a PhD in
Science from Central South University in Changsha, China. He is also a supervisor of PhD degree
applicants.
From 1984 to 2007, Dr. Peng worked in the China Nonferrous Engineering and Research Institute
successively as Engineer, Senior Engineer, Vice Director, Vice President, and Deputy General
Manager of China ENFI Engineering Corporation.
Between 2008 and 2014, Dr. Peng held various roles with Aluminum Corporation of China Ltd.
(“Chinalco”), including Executive Director and CEO of Chinalco Mining Corporation International
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Ltd. During this period, Dr. Peng oversaw the construction and development of the world-class
Toromocho copper mine in Peru.
Closing Ceremony of JCHX Strategic Equity Investment in Cordoba
Figure 1: Signing of the investor rights agreement in Beijing on January 16, 2020. Front row (left
to right) – Eric Finlayson, President and CEO, Cordoba and President, HPX; Qinghai Wang, Vice
Chairman and Director, JCHX. Second row (left to right) – Shizhou Yin, Chairman of
Supervisory Board, JCHX and Finance Director, JCHX Group; Cathy Liu, Head of Operations,
Ivanhoe Mines Consulting Services (Beijing) Co., Ltd.; Pingxian Ye, Vice President, JCHX;
Zhanmin Li, President & Director, JCHX; Huaisheng Peng, Director, JCHX and President, JCHX
Group; Philip Mitchell, Senior Commercial Advisor, HPX; Xiancheng Wang, Chairman, JCHX and
Chairman, JCHX Group; Shawn Wang, Head of the Investment and Business Development,
Ivanhoe Mines Consulting Services (Beijing) Co., Ltd.; Youcheng Wang, Vice President &
Director, JCHX; Cicheng Wang, Vice President & Director, JCHX; Wu Shao, Executive Vice
President, JCHX; Bangfu Wu, Secretary of the Board, JCHX.
About JCHX
Established in 1997, through its continuous and rapid development, JCHX has become one of
the top mining construction companies in China. The company is mainly engaged in mine
development and construction, contract mining and research & development of mining
technologies.
JCHX is capable of providing comprehensive and professional services to the industry, as it has
built a reputation for its integrity and credibility. The company specializes in underground mine
development and construction, and production mining, especially in large-section declines and
tunnels development. With an extensive fleet of mining equipment supported by highly trained
employees, the company can provide solutions for a variety of projects, even those with the most
complex geological conditions.
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JCHX strives to build safe and eco-friendly projects with the spirit of high quality and efficiency
through cost-effective approaches.
JCHX is completing the underground development at the Kamoa-Kakula Copper Project, after
recently completing construction of the twin production declines. The Kamoa-Kakula Copper
Project is located in the Democratic Republic of Congo and is jointly operated by Ivanhoe Mines
and Zijin Mining Group. More information on JCHX and their current projects is available on their
website: www.jchxmc.com.
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration,
development and acquisition of copper and gold projects. Cordoba is developing the San Matias
Copper-Gold-Silver Project, which includes the Alacran deposit and satellite deposits at Montiel
East, Montiel West and Costa Azul, located in the Department of Cordoba, Colombia. Cordoba
also holds a 25% 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.
Information Contact
Evan Young +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, all statements
regarding the receipt of necessary approvals and the timing and completion of the JCHX private placement;
statements regarding the proposed use of proceeds from the JCHX private placement; and statements
regarding the advancement and/or development of the San Matias Copper-Gold-Silver Project and the
Perseverance Copper Project. 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. These include assumptions regarding, among other things: general business and economic
conditions; the availability of additional exploration and mineral project financing; the supply and demand
for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners;
the timing and receipt of governmental permits and approvals; the timing and receipt of TSXV approvals;
the timing and receipt of community and landowner approvals; changes in regulations; political factors; the
accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s
mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and
development of mineral properties; and currency fluctuations. There can be no assurance that forward-
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looking 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 MD&A for the year ended December 31, 2018. The Company does not undertake to update or
revise any forward-looking statements, except in accordance with applicable law.