Business
Cordoba Minerals Announces Strategic Cooperation and Investment Agreement with JCHX
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2019) - Cordoba Minerals Corp. (T...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces Strategic Cooperation and Investment Agreement with JCHXJCHX will Invest C$11M to Advance the San Matias Copper-Gold-Silver Project in Colombia; JCHX to Acquire a 19.9% Stake in Cordoba MineralsVancouver, British Columbia--(Newsfile Corp. - November 18, 2019) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (\"Cordoba\" or the \"Company\") announced today that JCHX Mining Management Co., Ltd. (\"JCHX\") has agreed to make a strategic investment in the Company, acquiring a 19.9% stake in Cordoba to advance the San Matias Copper-Gold-Silver Project in Colombia.Under the terms of the strategic cooperation and investment agreement signed on November 16, 2019 in Beijing, China, Cordoba will issue 91,372,536 common shares to JCHX through a private placement at a price of C$0.12 per share, yielding gross proceeds to Cordoba of approximately C$11 million.Cordoba intends to use the proceeds for completing the work required to secure mining approvals at San Matias, to further explore in the San Matias district and for working capital and general corporate purposes.\"We are very pleased to have JCHX as a strategic investor in Cordoba,\" stated Eric Finlayson, President and CEO of Cordoba and also President of Cordoba's majority shareholder High Power Exploration (\"HPX\"). \"JCHX has an exemplary record for delivering mining and construction projects on time and on budget, and leveraging its global experience will be critical as we begin the transition from junior explorer to mine builder. We look forward to this next phase of our Company's evolution and we will continue to explore and drill in the San Matias district.\"Wang Xiancheng, Chairman of JCHX, stated, \"Our strategic investment into Cordoba is JCHX's major overseas investment upstream in the mining sector, which is in line with our corporate strategy. We have accumulated in-depth experience as a mining EPC contractor and moving along the value chain is our logical step forward. We are very much impressed with the quality of Cordoba's assets and management team, and with this strategic investment, we are confident to yield a win-win through cooperation with Cordoba and Cordoba's major shareholder HPX.\"Cordoba's Special Advisor in China, Peter Zhou, who also serves as Special Advisor to Robert Friedland in China, commented, \"JCHX has a long-standing ...