Eric Finlayson, President and Chief Executive Officer of Cordoba Minerals Corp. (TSX-V: CDB) (OTCQB: CDBMF) is pleased to announce that its majority shareholder, High Power Exploration Inc. has fully exercised its five-year share purchase warrants originally granted on June 26, 2020 which had an exercise price of $1.275 per share, providing Cordoba with gross proceeds of $1,643,258.25.
“The early exercise of warrants by HPX demonstrates the ongoing strong support of Cordoba by our majority shareholder. Proceeds will be used to advance the Pre-Feasibility Study at the Alacran Copper-Gold-Silver Project in Colombia and the exploration program to locate the porphyry sources of mineralization at Alacran and at the nearby Montiel West prospect,” commented Mr. Finlayson.
After the exercise of warrants, HPX now holds 34,240,451 common shares of Cordoba, representing a 58.9% interest in the Company.
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is developing its 100%-owned San Matias Copper-Gold-Silver Project, which includes the Alacran Deposit and satellite deposits at Montiel East, Montiel West and Costa Azul, located in the Department of Cordoba, Colombia. Cordoba also holds a 25% interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint Venture and Earn-In Agreement.
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