Business
Cordoba Minerals Announces Rights Offering and Standby Commitment by Ivanhoe Electric
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2021) - Sarah Armstrong-Montoya, Pre...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces Rights Offering and Standby Commitment by Ivanhoe ElectricVancouver, British Columbia--(Newsfile Corp. - August 16, 2021) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise \"Cordoba\" or the \"Company\") announces today that the Company will conduct an offering (the \"Rights Offering\") of rights to acquire common shares of the Company (\"Common Shares\") to raise gross proceeds of C$15,000,000. \"Upon completion of the Rights Offering, Cordoba will be well-capitalized to complete the Pre-Feasibility Study at our 100% owned Alacran Project and to conduct further diamond drilling programs and other exploration on our mineral projects,\" said Sarah Armstrong-Montoya, President and CEO of Cordoba. Pursuant to the rights offering circular (the \"Rights Offering Circular\") and the notice of rights offering (the \"Notice of Rights Offering\"), each eligible registered shareholder of the Company, as disclosed in the Rights Offering Circular, and holding Common Shares as at the close of business on August 30, 2021 (the \"Record Date\") will receive 0.4537102997 transferable rights for every one Common Share held. All fractional rights will be rounded down to the nearest whole number of rights with no additional compensation paid therefor (each whole right, a \"Right\"). Each Right will entitle the holder to subscribe for one Common Share at a subscription price of C$0.54 per Common Share (the \"Basic Subscription Privilege\"). Shareholders who fully exercise their Rights under the Basic Subscription Privilege will also be entitled to subscribe for additional Common Shares, on a pro rata basis, if available as a result of unexercised Rights prior to the Expiry Time (the \"Additional Subscription Privilege\"), subject to certain limitations as set out in the Company's Rights Offering Circular.The Rights will be listed and posted for trading on the TSX Venture Exchange under the symbol \"CDB.WT\" on a \"when issued\" basis commencing on August 27, 2021, being one trading day prior to the Record Date, and will expire at 5:00 p.m. (Vancouver time) (the \"Expiry Time\") on September 23, 2021, after which time unexercised Rights will be void and of no value.The Company currently has 61,223,598 Common Shares issued and outstanding. If all ...