Cordoba Minerals and High Power Exploration to Consolidate the San Matias Project to Create a Leading Copper-Gold Company in Colombia

cordoba, V.CDB

Cordoba Minerals Inc., (TSX VENTURE:V.CDB)is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with High Power Exploration Inc. (“HPX”), whereby Cordoba will acquire (the “Transaction”) HPX’s 51% interest in the San Matias Joint Venture (“San Matias”) through the acquisition of HPX Colombia Ventures Ltd. (“Ventures”), a wholly-owned subsidiary of HPX, for consideration of 92,681,290 Cordoba common shares (the “Consideration”).

In connection with the Transaction, Cordoba has entered into an agreement with BMO Capital Markets, acting as bookrunner on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase for resale, on a bought deal private placement basis, 12,346,000 subscription receipts (the “Subscription Receipts”) of Cordoba at a price of C$0.81 per Subscription Receipt for gross proceeds to Cordoba of approximately C$10 million (the “Concurrent Financing”). The net proceeds of the Concurrent Financing will be used to fund exploration expenditures at San Matias, to repay up to C$1.5 million of HPX expenditures that are not being converted into Units, and for general corporate more

Leave a Reply

Your email address will not be published. Required fields are marked *