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NEW YORK, NEW YORK--(Marketwired - Feb 3, 2016) - This news release is issued by Ivanhoe Industries, LLC ("Ivanhoe Industries"), pursuant to the early warning requirements of Canada's Multilateral Instrument 62-104 and National Instrument 62-103 with respect to the common shares of Cordoba Minerals Corp. ("Cordoba").
Ivanhoe Industries, through its affiliate, HPX Colombia Ventures Ltd. ("HPX") has agreed to acquire ownership and control of 3,000,000 common shares (the "Shares") of Cordoba Minerals Corp. ("Cordoba") (TSX VENTURE:CDB) from an existing shareholder at a price of C$0.134 per Share for 1,900,000 Shares not subject to TSXV escrow requirements and at a price of C$0.15 per Share for 1,100,000 shares subject to TSXV escrow requirements.
Upon completion, Ivanhoe Industries will have actual beneficial ownership and control over 23,070,833 common shares representing 29% of the currently issued and outstanding common shares, and will be deemed to beneficially own 30,370,833 common shares (including 7,300,000 unissued common shares issuable upon the exercise of common share purchase warrants), representing approximately 35% of Cordoba's then issued and outstanding common shares on a partially diluted basis. All of these securities are beneficially owned and controlled by Ivanhoe Industries.
Ivanhoe Industries has acquired the shares for investment purposes. Depending on economic or market conditions or matters relating to Cordoba, Ivanhoe Industries may choose to either acquire additional common shares or dispose of common shares of Cordoba.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to the Cordoba Minerals Corp. profile on SEDAR website www.sedar.com, or contact Penny Schattenkirk at (604) 689-8765. Ivanhoe Industries has an office c/o 654-999 Canada Place, Vancouver, British Columbia, Canada V6C 3E1.