Business
Cordoba Minerals Announces the Receipt of US$40 Million Joint Venture Funding from JCHX
Vancouver, British Columbia--(Newsfile Corp. - January 4, 2024) - Sarah Armstrong-Montoya, Presid...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces the Receipt of US$40 Million Joint Venture Funding from JCHXVancouver, British Columbia--(Newsfile Corp. - January 4, 2024) - 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 the Company has received the second installment of US$40 million from a subsidiary of JCHX Mining Management Co., Ltd. (\"JCHX\") pursuant to the Strategic Framework Agreement (\"Strategic Agreement\") between JCHX and Cordoba for the joint-development of the Company's flagship Alacran Project in Colombia (refer to Cordoba's news release dated December 18, 2023). In accordance with the Strategic Agreement, JCHX has advanced the second installment of US$40 million that was payable upon the completion of a Cordoba board approved Feasibility Study and the filing of the Environmental Impact Assessment application. Part of the proceeds was used to repay the US$4 million bridge financing that was previously provided by the Company's majority shareholder Ivanhoe Electric Inc. in the form of a short-term convertible debenture (refer to Cordoba's news release dated October 4, 2023). Part of the of proceeds will be used to repay the short-term loan of US$4 million from JCHX (refer to Cordoba's news release dated November 8, 2023). The remaining proceeds from the second installment will be used to continue the development of the Alacran Project and for general corporate purposes. 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...