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Cordoba completes C$11m strategic equity investment

20th January 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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TSX-V-listed Cordoba Minerals has completed the strategic equity investment, totaling about C$11-million, by JCHX Mining Management.

Cordoba has issued over 91.3-million common shares to JCHX through a private placement at a price of C$0.12 a share. With the completion, JCHX now owns about 19.9% of Cordoba’s issued and outstanding common shares.

High Power Exploration (HPX) remains Cordoba’s majority shareholder with 60% ownership.

Cordoba intends to use the proceeds for completing work required to secure mining approvals at the San Matias copper, gold and silver project, in Colombia, to further explore in the district and at the Perseverance copper project, in Arizona, in the US.

The proceeds will also be used for working capital and general corporate purposes as well.

Pursuant to the terms of the investor rights agreements with JCHX, Cordoba has accepted the nomination of Dr Peng Huaisheng to the Cordoba board of directors, expanding the board to five members.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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