Toronto, Ontario--(Newsfile Corp. - March 11, 2019) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQX: CDBMF) ("Cordoba"
or the "Company") is pleased to announce that it has completed the third and final tranche of its previously announced
non-brokered private placement (the "Offering") (refer to Cordoba's news releases dated February 14, 2019, February 19, 2019, February 25, 2019 and March 4, 2019). In connection with the closing of this final tranche of the
Offering, the Company has issued an aggregate of 1,000,000 units of the Company (the "Units") at a price of $0.10 per Unit
for gross proceeds of $100,000. A total of 22,800,000 Units have been placed in the Offering for total gross proceeds of
$2,280,000.
Each Unit consists of one common share ("Share") of the Company and one common share purchase warrant ("Warrant").
Each Warrant entitles the holder, on exercise, to purchase one Share for a period of 24 months following the closing date of the
initial tranche of the Offering at the exercise price of $0.12 per Share.
Net proceeds from the Offering will be used to advance exploration activities at the Perseverance Project in Arizona, USA, where
recent drilling has indicated proximity to a Laramide porphyry copper system (refer to Cordoba's news release dated January 21, 2019), and will include
continuation of drilling activities and preparation and permitting for geophysical surveys, including HPX's Typhoon™ technology.
Remaining funds will be used for general corporate purposes.
No finder's fees were paid in connection with subscriptions received in the third and final tranche of the Offering.. The
securities issued pursuant to the Offering will be subject to a four-month hold period. As part of the final tranche of the
Offering, an officer of the Company (the "Insider") arranged for the sale of 500,000 Shares of the Insider's personal holdings at a
price in context with the market through the facilities of the TSX Venture Exchange (the "TSXV") (the "Swap"). The
Insider used the proceeds from the Swap to participate in the Offering. The Offering and the Swap remains subject to the final
approval of the TSXV.
Extension of Alacran Option Payment with OMNI
Cordoba and Sociedad Ordinaria de Minas Omni ("OMNI") have agreed to a 3-month extension to the US$1,000,000 advance
payment previously due to OMNI on February 27, 2019. The Company has an option agreement with OMNI to earn a 100% interest in the
Alacran Copper-Gold Project, which is located within Cordoba's San Matias Project. OMNI is 50.1% owned by Cordoba's majority
shareholder HPX.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and
gold projects. Cordoba is currently focused on its 100%-owned San Matias Copper-Gold Project, which includes the advanced-stage
Alacran Deposit, located in the Department of Cordoba, Colombia. Cordoba has also entered into a Joint Venture and Earn-In
Agreement to explore the Perseverance copper porphyry project located in Arizona, USA. For further information, please visit
www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.
For further information, please contact:
Evan Young, Director, Investor Relations
Email: eyoung@cordobamineralscorp.com
Phone: +1 (647) 808-2141
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian
securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking
statements including, without limitation, all statements regarding the timing and completion of the Offering and the Swap;
statements regarding the proposed use of proceeds from the Offering; statements regarding no finder's fees being payable in
connection with the closing of the third and final tranche of the Offering; and statements regarding the 3-month extension to the
Alacran option payment to OMNI. Forward-looking statements include predictions, projections and forecasts and are often, but not
always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target",
"budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and
other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management
based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and
competitive uncertainties, risks and contingencies. There can be no assurance that such statements will prove to be accurate
and actual results, and future events could differ materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation
of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal
prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured
risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein
and from time to time in the filings made by the Company with securities regulators, including those described under the heading
"Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any
forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these
forward-looking statements.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43346
