- TSX.V: CDB $0.08
- OTCQB: CDBMF $0.05
Cordoba Minerals Announces Corporate Reorganization
TORONTO, ONTARIO, April 1, 2019: Cordoba Minerals Corp. (TSX-V:CDB; OTCQX:CDBMF) (“Cordoba” or the “Company”) announces a corporate reorganization whereby certain management personnel from Cordoba’s majority shareholder High Power Exploration Inc. (“HPX”) will assume key management roles with the Company.
Under the reorganization that takes effect today, Eric Finlayson, President of HPX, will become the President and Chief Executive Officer of Cordoba, and Greg Shenton, Chief Financial Officer (CFO) of Kaizen Discovery Inc., a company that is majority controlled by HPX, will assume the role of Chief Financial Officer.
Mr. Finlayson and Mr. Shenton are replacing Mario Stifano and Cybill Tsung, respectively, both of whom have stepped down from their roles with the Company. Mr. Stifano will be retained as a special advisor to the incoming management team and will provide strategic guidance going forward. Ms. Tsung will provide consulting services to ensure a smooth transition of financial activities.
Mr. Finlayson, a geologist, has been President of HPX since 2015, after serving as Senior Adviser, Business Development to HPX since 2013. Prior to joining HPX, he spent 24 years with Rio Tinto, including five years as Global Head of Exploration. Mr. Shenton, CPA, CGA, has nearly 30 years of mining industry experience and has been Kaizen’s CFO since April 2018. He also was the CFO of Peregrine Diamonds until Peregrine was acquired by De Beers Canada in September 2018.
“I would like to thank Mario and Cybill for their leadership and dedicated service to the Company,” stated Eric Finlayson. “Under their guidance, Cordoba has experienced exploration success in Colombia and has acquired the Perseverance joint-venture porphyry copper exploration project in Arizona. I am grateful to have their ongoing support and guidance, and am looking forward to leading Cordoba through the next phase of exploration and development.”
In addition, Charles Forster has been appointed Cordoba’s Vice President of Exploration. Mr. Forster is a Professional Geoscientist with more than 45 years of diversified mineral exploration experience. He is Vice President of Exploration at HPX and was the Senior Vice President of Exploration at Oyu Tolgoi in Mongolia for Ivanhoe Mines (now Turquoise Hill Resources), leading a team of multi-national and Mongolian geologists in the discovery and delineation of the world-class Oyu Tolgoi porphyry copper-gold deposits.
Mr. Forster commented, “I am excited to be taking a more active role in Cordoba to advance our exploration efforts at Perseverance, where recent drilling indicates proximity to a porphyry copper system. The large, deep magneto-telluric resistivity low at Perseverance appears similar to the resistivity anomalies observed at other major porphyry copper deposits. At our San Matias copper-gold project in Colombia, we have compelling evidence for both northern and southern strike extensions of Alacran-style copper-gold mineralization and clear evidence from Alacran of an underlying porphyry target.”
In conjunction with the management changes, Cordoba will consolidate its head office and administrative activities to HPX’s office in Vancouver.
Cordoba also announces that Ignacio Rosado has stepped down as a director of the Company so that he may focus his efforts on his other professional duties. The Company thanks Mr. Rosado for his valuable contributions.
About Cordoba Minerals
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration and acquisition of copper and gold projects. Cordoba is currently exploring 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 porphyry copper project in Arizona, USA. For further information, please visit www.cordobaminerals.com.
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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.
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, that Cordoba will consolidate its head office activities into HPX’s Vancouver office; and ongoing exploration will lead to potential discovery. 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.