Final Option Payment to be Made to Secure 100% of Alacran Copper-Gold-Silver Deposit in Colombia
Cordoba Minerals Corp. (TSX-V:CDB; OTCQB:CDBMF) (“Cordoba” or the “Company”) today announces that it has completed its previously announced rights offering (refer to Cordoba’s news release dated May 15, 2020) and has issued 430,000,000 common shares for aggregate gross proceeds of C$21.5 million. This represents 100% of the maximum number of Rights Shares issuable under the Rights Offering. The Company now has 891,513,218 common shares issued and outstanding.
The Rights Offering was fully subscribed and, as a result, the Company did not rely on its majority shareholder, High Power Exploration Inc. (“HPX”), to acquire any additional Rights Shares under its Standby Commitment. HPX fully exercised its basic subscription privilege and upon completion holds 531,510,101 shares, representing 59.62% of the shares issued and outstanding.
For the complete news release please see Cordoba’s website.