Cordoba Minerals Announces the Receipt of US$10 Million Bridge Financing from JCHX
Rhea-AI Summary
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) has received a US$10 million bridge financing from affiliates of its joint venture partner, JCHX Mining Management. The financing consists of two US$5 million loans advanced to Cordoba and the joint venture entity holding the Alacran Copper-Gold-Silver Project in Colombia.
The bridge loans will support the company's mineral projects advancement, particularly the detailed engineering design work program at the Alacran Project, and general corporate purposes. The company aims to progress the Alacran Project towards the construction phase while maintaining stakeholder engagement.
Positive
- Secured US$10 million in bridge financing
- Funding ensures continuation of Alacran Project development
- Strong partnership with JCHX Mining Management demonstrated through financial support
Negative
- Increased debt burden through new bridge loans
- Reliance on bridge financing indicates potential cash flow constraints
News Market Reaction – CDBMF
On the day this news was published, CDBMF declined 1.93%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - January 10, 2025) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise "Cordoba" or the "Company"), is pleased to announce that the Company has received the previously announced bridge financing of US
The proceeds from the bridge financing in the form of two loans of US
The purpose of the Bridge Loans is to ensure the Company can continue the advancement of its mineral projects, including the detailed engineering design work program at the Alacran Project in Colombia, and for general corporate purposes.
"With the receipt of the bridge financing, we continue to focus on advancing the detailed engineering design work program at the Alacran Project while engaging with our stakeholders to move the Project towards the construction stage," commented Ms. Sarah Armstrong-Montoya, President and CEO of Cordoba.
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
Ran Li +1-604-689-8765
info@cordobamineralscorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, the Alacran Project and development thereof. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236754
FAQ
How much bridge financing did Cordoba Minerals (CDBMF) receive from JCHX in January 2024?
What will Cordoba Minerals use the US$10 million bridge financing for?
How is the US$10 million bridge financing structured for Cordoba Minerals (CDBMF)?
Which project will benefit from Cordoba Minerals' (CDBMF) recent bridge financing?
