Cordoba Minerals Corp. (TSXV:CDB; OTCQB:CDBMF) (“Cordoba” or the “Company”) announces today that it has completed the Second Tranche of the previously announced issuance of shares (refer to Cordoba’s news release dated March 30, 2020). A total of 4,660,176 common shares of the Company (the “Second Tranche Shares”) have been issued at a price of $0.0732 per Second Tranche Share, representing an aggregate value of approximately $341,124.88 (US$250,000 on the deemed conversion date).
As previously described, the Shares were issued to two arm’s length parties in connection with Cordoba obtaining an extension on certain obligations due under the Alacran option agreement, and in consideration for work and services provided by the parties.
Cordoba has completed its acquisition of a 100% interest in the Alacran Copper-Gold-Silver Deposit and the Alacran mineral title is fully secured (refer to Cordoba’s news release dated July 2, 2020).
The Second Tranche Shares are subject to a four-month and one day hold period from the date of issue.