Business
Cordoba Minerals Amends Agreement for the Sale of the Remaining Interest in the Alacran Project
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2026) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) ("Cordoba" or the "Company") is pleased to announce that it has entered into an agreement (the "Amendment Agreement") with Veritas Resources AG ("Veritas") and a consortium of experienced mining investors led by JCHX Mining Management Co., Ltd. ("JCHX") to amend certain provisions of the previously announced definitive framework agreement (the "Framework Agreement") to sell its..
About this update from Jchx Mining Management Co Ltd Class A
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 10, 2026) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) ("Cordoba" or the "Company") is pleased to announce that it has entered into an agreement (the "Amendment Agreement") with Veritas Resources AG ("Veritas") and a consortium of experienced mining investors led by JCHX Mining Management Co., Ltd. ("JCHX") to amend certain provisions of the previously announced definitive framework agreement (the "Framework Agreement") to sell its remaining 50% interest in the Alacrán Project along with all other exploration assets in Colombia and certain accounts receivable (the "Transaction").","length":719,"tagName":"p"},{"type":"text","content":"The principal change agreed today is to increase the closing payment from US$88M in cash to US$128M in cash paid in a lump sum on closing of the Transaction ("Closing"), now anticipated for no later than March 10, 2026 (the "Closing Cash Payment") with no further payments to be made by Veritas and the buyer consortium. It is also anticipated that a larger cash distribution will now be made to Cordoba shareholders following Closing.","length":455,"tagName":"p"},{"type":"text","content":"In addition, the Amending Agreement also waives certain conditions to Closing, including approval of the Environmental Impact Assessment for the Alacrán Project by Colombia's Autoridad Nacional de Licencias Ambientales and sets the outside date for completion of the Transaction as March 10, 2026. A reduction in the number of consortium members also requires a new formal approval of JCHX shareholders by March 10, 2026. JCHX shareholders have previously approved the Transaction.","length":485,"tagName":"p"},{"type":"text","content":"The Transaction remains subject to final approval of the TSX Venture Exchange ("TSXV"). The Transaction is expected to close within the next month and in any event by March 10, 2026.","length":192,"tagName":"p"},{"type":"text","content":"Bridge Loan","length":11,"tagName":"p"},{"type":"text","content":"Cordoba also announces that an affiliate of JCHX will provide a bridge loan of US$2 million (the "Bridge Loan") directly to the joint venture entity which holds the Alacrán Project in Colombia. The Bridge Loan bears sim...