HPX exercises $1.5M worth of warrants TORONTO, ONTARIO--(Marketwired - Feb. 29, 2016) - Cordoba Minerals Corp. ("Cordoba") (TSX VENTURE:CDB), is pleased to announce that High Power Exploration Inc. ("HPX"), a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland, has fully exercised its three-year, C$0.20-per-share warrants granted on June 17, 2015, providing Cordoba with proceeds of C$1,460,000.
"The early exercise of warrants by HPX is a strong vote of confidence in our highly prospective San Matias Copper Gold Project in Colombia, where we believe the potential exists to find a world-class discovery. We have a tremendous partner in HPX, that is leveraging its leading-edge, proprietary geophysical technology at San Matias with an experienced team of explorationists who, collectively, have discovered numerous significant orebodies," commented Mr. Stifano, President and CEO of Cordoba.
With the exercise of the warrants, HPX now has control over approximately 32.4 million common shares, representing 37.3% of the issued and outstanding common shares of Cordoba.