Business
Cordoba Minerals Announces Non-Brokered Private Placement of up to $5.2 million
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2020) - Cordoba Minerals Corp. (TS...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces Non-Brokered Private Placement of up to $5.2 millionVancouver, British Columbia--(Newsfile Corp. - December 4, 2020) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (\"Cordoba\" or the \"Company\") announces that it proposes to complete a non-brokered private placement (the \"Offering\") of up to 69,333,333 units of the Company (the \"Units\") at a price of $0.075 per Unit, for gross proceeds of up to $5.2 million (approximately US$4.0 million). Each Unit will consist of one common share (\"Share\") of the Company and one common share purchase warrant (\"Warrant\"). Each Warrant will entitle the holder, on exercise, to purchase one Share for a period of 24 months following the closing date of the Offering at the exercise price of $0.115 per Share.Net proceeds from the Offering will be used to advance fieldwork supporting the completion of the Pre-Feasibility Study at the Company's 100%-owned Alacran Copper-Gold-Silver Project in Colombia (refer to Cordoba's news release dated November 30, 2020) and for general corporate purposes.Closing of the Offering is expected to be completed in tranches and is subject to TSX Venture Exchange approval. The Company may pay eligible finders assisting in the Offering a fee in cash and/or securities equal to 6% of the gross proceeds raised by such finders.The Units will be offered pursuant to exemptions from the prospectus requirements. The securities underlying the Units will be subject to a statutory hold period in Canada expiring four months and one day from the closing date and TSX Venture Exchange hold period, as applicable. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (U.S. Securities Act) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Pursuant to its Long Term Incentive Plan and Stock Option Plan, Cordoba has granted an aggregate of 6,175,000 Restricted Share Units and 17,100,000 stock options to certain employees and consultants.The stock options are exercisable at...