Cordoba Minerals Corp. (TSXV:CDB; OTCQB:CDBMF) announced that it proposes to complete a non-brokered private placement (the “Offering”) of up to 69,333,333 units of the Company (the “Units”) at a price of $0.075 per Unit, for gross proceeds of up to $5.2 million (approximately US$4.0 million). Each Unit will consist of one common share (“Share”) of the Company and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder, on exercise, to purchase one Share for a period of 24 months following the closing date of the Offering at the exercise price of $0.115 per Share.
Net proceeds from the Offering will be used to advance fieldwork supporting the completion of the Pre-Feasibility Study at the Company’s 100%-owned Alacran Copper-Gold-Silver Project in Colombia (refer to Cordoba’s news release dated November 30, 2020) and for general corporate purposes.
Closing of the Offering is expected to be completed in tranches and is subject to TSX Venture Exchange approval. The Company may pay eligible finders assisting in the Offering a fee in cash and/or securities equal to 6% of the gross proceeds raised by such finders.
Please see Cordoba’s news release for complete information.