Business
Cordoba Minerals Announces Upsize of Non-Brokered Private Placement
Cordoba Minerals Announces Upsize of Non-Brokered Private Placement Canada NewsWir...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"\n\n\n\nCordoba Minerals Announces Upsize of Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 19, 2019\n\n\n\nTORONTO, Feb. 19, 2019 /CNW/ - Cordoba Minerals Corp. (TSX-V:CDB; OTCQX:CDBMF) (\"Cordoba\" or the \"Company\") announces that it proposes to increase its previously announced non-brokered private placement (the \"Offering\") (refer to Cordoba's news release dated February 14, 2019) by an additional 5,000,000 units of the Company (the \"Units\") at a price of $0.10 per Unit. The Offering will be for up to 25,000,000 Units, for gross proceeds of up to $2,500,000. As previously announced, 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 initial tranche of the Offering at the exercise price of $0.12 per Share.\nNet proceeds from the Offering will be used to advance exploration activities at the Perseverance Project in Arizona, USA, where recent drilling has indicated proximity to a Laramide porphyry copper system (refer to Cordoba's news release dated January 21, 2019), and will include continuation of drilling activities and preparation and permitting for geophysical surveys, including HPX's Typhoon™ technology. Remaining funds will be used for general corporate purposes.\nClosing of the Offering is expected to be completed in tranches and is subject to TSX Venture Exchange approval. The initial closing will close as soon as practicable and the final tranche is expected to close before March 1, 2019. The securities issued pursuant to the Offering will be subject to a four-month hold period. The Company may pay eligible finders assisting in the Offering a fee in cash and/or securities equal to 7% of the gross proceeds raised by such finders.\nAbout Cordoba Minerals\nCordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper an...