VANCOUVER, Oct. 11, 2012 /PRNewswire/ - Cordoba Minerals
Corp. (TSXV: CDB) is pleased to announce that it has arranged,
subject to TSX Venture Exchange approval, a non-brokered private
placement financing of up to 4.45 million units at $0.45 per unit, for proceeds of up to
$2.0 million. Each unit will
consist of one common share and one-half of a warrant. Each
whole warrant will entitle the holder to purchase one additional
common share of the Company at $0.50
for two years from closing.
If at any time from four months and one day
after the closing of the financing, the closing price of the
Company's common shares on the TSX Venture Exchange over any period
of 10 consecutive trading days exceeds $0.625, the warrants will expire early, namely,
on the date which is 37 calendar days following such 10-day trading
period.
The Company may pay finder's fees on a portion
of the financing equal to 5% of subscription amounts found, payable
in cash or units, plus issue finder's warrants in an amount equal
to 5% of units purchased. Each finder's warrant will be
exercisable into one common share of the Company at a price of
$0.50 for two years from closing.
The net proceeds of the placement will be used
towards exploration of the Company's Cordoba Property, Colombia and for general working capital
purposes.
Warrant Amendment
Cordoba Minerals also announces that its Board
of Directors has determined that it is in the best interests of the
Company to amend the exercise price of private placement warrants
issued earlier this year. Accordingly, subject to TSX Venture
Exchange acceptance, the exercise price of outstanding warrants
entitling the holders to purchase a total of 3,433,335 shares has
been reduced from $1.00 per share to
$0.50 per share.
The expiry dates of these warrants remain
unchanged. If, however, at any time the closing price of the
Company's common shares on the TSX Venture Exchange over any period
of 10 consecutive trading days exceeds $0.625, the amended warrants will expire early,
namely, on the date which is 37 calendar days following such 10-day
trading period.
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,
"Peter Thiersch"
Peter Thiersch, President
Cordoba Minerals Corp.
Symbol: TSX-V:CDB
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
Forward-Looking Statement
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.