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Cordoba Minerals Completes Private Placement
Toronto, ON -- November 17, 2015: Cordoba Minerals Corp. ("Cordoba" or the "Company") (TSXV: CDB) is pleased to announce that it has closed its previously announced private placement (the "Private Placement") pursuant to which it issued an aggregate of 13,333,333 common shares at a price of $0.12 per share, resulting in total gross proceeds to Cordoba of C$1,600,000. 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 October 21, 2015 available on SEDAR at www.sedar.com.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. Cordoba currently owns 100% of the highly prospective San Matias Project located near operating open pit mines with ideal topography in the Department of Cordoba. For further information, please visit www.cordobaminerals.com.
Mario Stifano, President and CEO
Phone: +1 416-862-5253
Neither the 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.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Cordoba's periodic filings with Canadian securities regulators. When used in this press release, words such as "will, could, plan, estimate, expect, intend, may, potential, should, and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Forward-looking statements may include, without limitation, statements regarding the completion and expected benefits of the proposed transaction and other statements that are not historical facts. 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 operate, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Assumptions upon which forward looking statements relating to the transaction have been made include that all required regulatory, stock exchange and government approvals will be obtained. In addition, the factors described or referred to in the section entitled "Risk Factors" in the MD&A of Cordoba and which is available at www.sedar.com, should be reviewed in conjunction with the information found in this news release.
Although Cordoba has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the proposed transactions could be modified, restricted or not completed, and the results or events predicted in these forward looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this press release are made as of the date of this press release, and Cordoba disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Cordoba does not assume any liability for disclosure relating to the other company herein.