Mr. Stuart Ross reports
CARDERO CLOSES PRIVATE PLACEMENT
Cardero Resource Corp. has closed the private placement as announced on Oct. 17, 2018, and Nov. 28, 2018. On Nov. 9, 2018, the company issued 300,000 units at a price of 10 cents per unit for aggregate cash proceeds of $300,000. Each unit consisted of one common share in the capital of the company and one common share purchase warrant, with each whole warrant entitling the holder to acquire one additional share at a price of 15 cents per share for a period of up to five years, expiring on Nov. 9, 2023, provided that, the expiry of the warrants can be accelerated if the closing price of the company's common shares on the TSX Venture Exchange is at least 30 cents for a minimum of 10 consecutive trading days and a notice of acceleration is provided in accordance with the terms of the warrant, may accelerate the expiry date of the warrants to a date 30 days after the date of the notice.
Grant of stock options
The company also announces that, pursuant to its stock option plan, it has granted incentive stock options to certain directors, officers, employees and consultants allowing them to purchase up to an aggregate of 1.6 million common shares in the capital stock of the company. The options are exercisable on or before Dec. 28, 2020, at a price of 10 cents.
About Cardero Resource Corp.
Cardero Resource, headquartered in Vancouver, is a resource company focused on building a minerals exploration and development company. Cardero has the exclusive option to acquire up to a 100-per-cent interest in the Zonia copper-oxide project, located in Arizona. Zonia is a near-surface copper-oxide resource and a brownfield site, having already been mined in the late 1960s and 1970s.
We seek Safe Harbor.
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