VANCOUVER, Dec. 21, 2012 /CNW/ - Cordoba Minerals Corp. (TSXV: CDB) is pleased to announce that it has closed the first tranche of its
previously announced non-brokered private placement by issuing
7,208,890 units at $0.45 per unit, for gross proceeds of $3,244,000.
Each unit consists of one common share and one-half of a warrant, each
whole warrant entitling the holder to purchase one additional common
share for two years at $0.50. The Company also issued 273,333 common
shares and 435,999 warrants as finders' fees in connection with this
portion of the financing. The finders' fee warrants have the same
terms as the unit warrants. All of the shares and warrants have a
resale restriction until April 21, 2013.
The net proceeds of the placement will be used towards exploration of
the Company's Cordoba Property, Colombia and for general working
Early Warning Report
As a result of his participation in the private placement, Amin Lakha,
of 500 - 108 Avenue NE, Bellevue, WA, has acquired 1,111,112 common
shares of the Company at a price of $0.45 each, as well as share
purchase warrants to purchase a further 555,556 shares of the Company
which are exercisable for two years at a price of $0.50 per share. As
a result, Mr. Lakha owns a total of 2,177,779 shares, which represents
8.6% of the issued and outstanding shares of the Company. Assuming the
exercise of his warrants in full, Mr. Lakha would own 3,066,669 shares,
or 11.7% of the then issued capital of the Company.
The shares were acquired by Mr. Lakha for investment purposes, and he
may from time to time, directly or indirectly, acquire additional
securities of the Company. Mr. Lakha has filed on www.sedar.com a report pursuant to NI 62-103.
About Cordoba Minerals
Cordoba Minerals Corp. is a Vancouver-based mineral exploration company
focused on the acquisition and exploration of copper and gold projects
in Colombia. Please visit our website www.cordobamineralscorp.com for additional project information.
ON BEHALF OF THE BOARD,
Simon Ridgway, Chairman and CEO
Cordoba Minerals Corp.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Canada accepts responsibility for the adequacy or accuracy of this
Some of the statements in this news release contain forward-looking
information that involves
inherent risk and uncertainty affecting the business of the Company.
Actual results may differ
materially from those currently anticipated in such statement.
SOURCE: Cordoba Minerals Corp.
For further information:
Contact: Jaclyn Ruptash
Tel: (604) 801-5432; Fax: (604) 662-8829