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Cordoba Minerals Announces the Receipt of US$4 Million Joint Venture Funding from JCHX
[ DATELINE]Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Co...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces the Receipt of US$4 Million Joint Venture Funding from JCHX[DATELINE]Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise \"Cordoba\" or the \"Company\"), is pleased to announce that CMH Colombia S.A.S., the joint venture vehicle that owns 100% of the Alacran Project, in Colombia, has received the previously announced joint venture funding of US$4 million in the form of a short-term loan (the \"Loan\") from a subsidiary of JCHX Mining Management Co., Ltd. (\"JCHX\") (refer to Cordoba's news release dated October 4, 2023).The Loan bears simple interest at 12% per annum and payable on its maturity date, which is the earlier of (i) 12 months after the date of the loan agreement, and (ii) the date the second installment of US$40 million becomes payable by JCHX under the US$100 million strategic arrangement (refer to Cordoba's news release dated December 8, 2022). If the maturity date occurs as the date of the second installment, the outstanding amount under the Loan may be deducted from the second installment. The proceeds from the Loan will be used to ensure continued advancement of the Alacran Project, and for general corporate purposes.\"With the support from our joint venture partner, JCHX, the Alacran Project is well underway towards the completion of its Feasibility Study and Environmental Impact Assessment,\" commented Ms. Sarah Armstrong-Montoya, President and CEO of Cordoba. About CordobaCordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a 51% 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.ON BEHALF OF THE COMPANYSarah Armstrong-Montoya, President and Chief Executive OfficerInformation ContactRan Li [email protected] 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 rele...