Mr. Simon Ridgway reports
CORDOBA MINERALS COMPLETES $3.24 MILLION TRANCHE OF PRIVATE PLACEMENT
Cordoba Minerals Corp. has closed the first tranche of its
previously announced non-brokered private placement by issuing
7,208,890 units at 45 cents 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 50 cents. 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 toward 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 Ave. Northeast, Bellevue, Wash., has acquired 1,111,112 common
shares of the company at a price of 45 cents 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 50 cents per share. As
a result, Mr. Lakha owns a total of 2,177,779 shares, which represents
8.6 per cent 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 per cent 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 SEDAR a report pursuant to National Instrument 62-103.
We seek Safe Harbor.
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