VANCOUVER, Dec. 21, 2012 /PRNewswire/ - 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 capital
purposes.
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"
Simon Ridgway, Chairman and CEO
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.
