MEDELLIN, COLOMBIA--(Marketwired - April 8, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Robert W. Allen of Carrera 32, 12A-11, Medellin, Antioquia, Colombia announced the acquisition of the following securities of Cordoba Minerals Corp. (TSX VENTURE:CDB) ("Cordoba"), a reporting issuer in Canada:
- 15,247,484 Common Shares (the "Shares") (held by the following entities over which Robert W. Allen had direction or control: Robert W. Allen - 11,773; Bullet Holding Corporation - 13,722,565; Reindeer Capital Corporation - 1,211,111; Carol V. Allen - 66,591; and, Carol V. Allen Revocable Trust - 235,444); and
- 4,720,471 common share purchase warrants (the "Warrants") (held by the following entities over which Robert W. Allen had direction or control: Robert W. Allen - 845; Bullet Holding Corporation - 4,697,944; Carol V. Allen - 4,780; and, Carol V. Allen Revocable Trust - 16,902). With the exception of 4,000,000 Warrants held by Bullet Holding Corporation, each Warrant entitles the holder to acquire one common share for $0.30 for a period of two years after closing. With respect to the 4,000,000 Warrants held by Bullet Holding Corporation, each Warrant entitles the holder to acquire one common share for $0.75 for a period of three years after closing with an early exercise provision when the common shares of Cordoba close at greater than $1.25 for 20 consecutive trading days.
Robert W. Allen was issued the foregoing securities pursuant to an acquisition by plan of arrangement, whereby Cordoba acquired all of the issued and outstanding shares of Sabre Metals Inc. and all of the issued and outstanding shares of Cordoba Holdings Corp. it did not already own (the "Acquisition"). These transactions were announced by Cordoba in a press release dated March 31, 2014. Immediately prior to the Acquisition, Robert W. Allen did not have ownership or control over any securities of Cordoba.
As a result of the Acquisition, Robert W. Allen has ownership and control of an aggregate of 15,247,484 Shares and 4,720,471 Warrants representing 13.0% of Cordoba's issued and outstanding shares on a non-diluted basis and, assuming exercise of the Warrants, 16.3% of Cordoba's issued and outstanding shares on a partially diluted basis.
The securities of Cordoba are held for investment purposes. Mr. Robert W. Allen may, depending on market and other conditions, increase or decrease his beneficial ownership of securities of Cordoba, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.