Cordoba closes $1.6-million placement
2015-11-17 08:22 ET - News Release
Mr. Mario Stifano reports
CORDOBA MINERALS COMPLETES PRIVATE PLACEMENT
Cordoba Minerals Corp. has closed its previously announced private placement pursuant to which it issued an aggregate of 13,333,333 common shares at a price of 12 cents per share, resulting in total gross proceeds to Cordoba of $1.6-million. All securities issued in connection with the private placement are subject to a statutory hold period expiring on March 17, 2016. High Power Exploration Inc., a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland, purchased an aggregate of 10,770,833 common shares in the private placement, while other insiders of the company purchased an additional 687,834 common shares.
The private placement and related matters remain subject to the final approval of the TSX Venture Exchange. The net proceeds of the private placement will be used by the company to help finance its previously announced Alacran exploration program in Colombia and for general working capital purposes. For further information, please refer to the press release of Cordoba dated Oct. 21, 2015, available on SEDAR.
We seek Safe Harbor.