Ivanhoe Industries picks up another 2 Million shares Cordoba investor to acquire two million company shares
2015-10-26 16:52 ET - News Release
Ms. Penny Schattenkirk of Ivanhoe Industries reports
PROPOSED ACQUISITION OF COMMON SHARES OF CORDOBA MINERALS CORP.
Under the terms of a share purchase agreement dated Oct. 23, 2015, Ivanhoe Industries LLC, through its affiliate HPX Colombia Ventures Ltd., has agreed to purchase and acquire ownership and control of two million common shares of Cordoba from an existing holder of Cordoba Minerals Corp. common shares.
Upon completion of the purchase of the Shares, Ivanhoe Industries will beneficially own and control 9,300,000 common shares (14% of the issued and outstanding common shares) and will be deemed to beneficially own 29,933,333 common shares (including 7,300,000 unissued common shares issuable upon the exercise of common share purchase warrants and 13,333,333 common shares also deemed to be owned), representing approximately 34.5% of Cordoba's then issued and outstanding common shares on a partially diluted basis. All of these securities will be beneficially owned and controlled by Ivanhoe Industries.
Ivanhoe Industries is acquiring the Shares for investment purposes. Depending on economic or market conditions or matters relating to Cordoba, Ivanhoe Industries may choose to either acquire additional common shares or dispose of common shares of Cordoba.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder please go to the Cordoba Minerals Corp. profile on SEDAR website www.sedar.com, or contact Penny Schattenkirk at (604) 689-8765. Ivanhoe Industries has an office c/o 654-999 Canada Place, Vancouver, British Columbia, Canada V6C E31.