- TSX.V: CDB $0.56
- OTCQB: CDBMF $0.43
Cordoba Minerals and High Power Exploration announce conditional approval of proposed transaction to consolidate the San Matias Copper-Gold Project in Colombia
TSX-V trading halt to be lifted on June 30
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, ONTARIO, June 29, 2017: Cordoba Minerals Corp. (TSX-V: CDB; OTCQX: CDBMF) ("Cordoba" or the "Company") announced today that it has received the conditional approval of the TSX Venture Exchange ("TSXV") of the previously announced proposed transaction with its joint venture partner, High Power Exploration Inc. ("HPX"), whereby Cordoba will acquire (the "Transaction") HPX’s 51% interest in the San Matias Joint Venture through the acquisition of HPX Colombia Ventures Ltd., a wholly-owned subsidiary of HPX, for consideration of 92,681,290 Cordoba common shares. Details of the Transaction can be found in the June 13, 2017 news release.
The Transaction is scheduled to close shortly after the annual and special meeting of Cordoba shareholders in July, where the Company will seek minority shareholder approval of the Transaction, including the issuance of the Cordoba common shares and units in connection with the Transaction. The Transaction also remains subject to final TSXV approval.
The temporary trading halt in connection with the Transaction is expected to be lifted at the start of trading on June 30, 2017.
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 has a joint venture with High Power Exploration on the highly prospective, district-scale San Matias Copper-Gold Project located at sea level with excellent infrastructure and near operating open-pit mines in the Department of Cordoba. For further information, please visit www.cordobaminerals.com.
About High Power Exploration (HPX):
HPX is a privately owned, metals-focused exploration company deploying proprietary in-house geophysical technologies to rapidly evaluate buried geophysical targets. The HPX technology cluster comprises geological and geophysical systems for targeting, modelling, survey optimization, acquisition, processing and interpretation. HPX has a highly experienced board and management team led by Co-Chairman and Chief Executive Officer Robert Friedland, President Eric Finlayson, a former head of exploration at Rio Tinto, and co-chaired by Ian Cockerill, a former Chief Executive Officer of Gold Fields Ltd. For further information, please visit www.hpxploration.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President & CEO
Cordoba Minerals Corp.
This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", 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. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Transaction, are forward-looking statements that involve various risks and uncertainties. The timing and completion of the Transaction is subject to customary closing conditions and other risks and uncertainties including, without limitation, required regulatory and shareholder approvals, and the completion of the concurrent financing. Accordingly, there can be no assurance that the Transaction will occur on the timetable or on the terms and conditions contemplated in this news release. The Transaction could be modified, restructured or terminated. Forward-looking statements are based on information available at the time they are made, underlying estimates and assumptions made by management and management’s good faith belief with respect to future events, performance and results, and are subject to inherent risks and uncertainties surrounding future expectations generally, which could cause actual results to differ materially from what is currently expected. Such risks and uncertainties include, but are not limited to, 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. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.