Business
Cordoba Minerals Announces Closing of Private Placement
Toronto, Ontario--(Newsfile Corp. - October 19, 2018) - Cordoba Minerals Corp. (TSXV: ...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces Closing of Private PlacementToronto, Ontario--(Newsfile Corp. - October 19, 2018) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQX: CDBMF) (\"Cordoba\" or the \"Company\") announced today that the non-brokered private placement (the \"Placement\") as announced on October 10, 2018 has closed.Under the terms of the Placement, Cordoba has issued 26,605,128 units (\"Units\") to its majority shareholder, High Power Exploration Inc. (\"HPX\"), for gross proceeds to the Company totalling US$2.0 million. Each Unit consists of one common share (\"Share\") and one common share purchase warrant (\"Warrant\") of the Company. Each Warrant will entitle the holder to purchase one Share at an exercise price of $0.13 per Share for a period of 24 months.Cordoba will use the proceeds to advance regional exploration at Cordoba's 100%-owned San Matias Copper-Gold Project in Colombia, to fund ongoing drilling activities at the Perseverance copper porphyry project in Arizona, USA, and for general working capital purposes.The Shares and Warrants issued in connection with the Placement are subject to a statutory four month hold period. The Placement remains subject to the final approval of the TSX Venture Exchange.About Cordoba MineralsCordoba 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 coppery porphyry project located in Arizona, USA. For further information, please visit www.cordobaminerals.com.About High Power ExplorationHPX is a private, metals-focused exploration and development company, investing in mineral projects that have high potential for value uplift with HPX's technology, industry expertise, and capital.ON BEHALF OF THE COMPANYMario Stifano, President and CEOCordoba Minerals Corp.For further information, please contact:Evan Young, Director, Investor RelationsEmail: [email protected]: +1 (647) 808-2141Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adeq...