Ivanhoe Industries, LLC

Ivanhoe Industries, LLC

November 18, 2015 15:42 ET

Acquisition of Common Shares of Cordoba Minerals Corp.

NEW YORK, NEW YORK--(Marketwired - Nov. 18, 2015) - This news release is issued by Ivanhoe Industries, LLC ("Ivanhoe Industries"), pursuant to the early warning requirements of Canada's Multilateral Instrument 62-104 and National Instrument 62-103 with respect to the common shares of Cordoba Minerals Corp. ("Cordoba").

Ivanhoe Industries, through its affiliate, HPX Colombia Ventures Ltd. ("HPX"), has acquired actual ownership and control of 10,770,833 common shares (the "Shares") of Cordoba in a private placement with Cordoba, a reduction from the 13,333,333 common shares that were deemed to be owned in Ivanhoe Industries' news release dated October 22, 2015. The purchase price per share was C$0.12.

Ivanhoe Industries now has actual beneficial ownership and control over 20,070,833 common shares representing 25.3% of the currently issued and outstanding common shares, and is deemed to beneficially own 27,370,833 common shares (including 7,300,000 unissued common shares issuable upon the exercise of common share purchase warrants), representing approximately 31.6% of Cordoba's then issued and outstanding common shares on a partially diluted basis. All of these securities are beneficially owned and controlled by Ivanhoe Industries.

Ivanhoe Industries has acquired the shares for investment purposes. Depending on economic or market conditions or matters relating to Cordoba, Ivanhoe Industries may choose to either acquire additional common shares or dispose of common shares of Cordoba.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder please go to the Cordoba Minerals Corp. profile on SEDAR website www.sedar.com, or contact Penny Schattenkirk at (604) 689-8765. Ivanhoe Industries has an office c/o 654-999 Canada Place, Vancouver, British Columbia, Canada V6C 3E1.

Contact Information

  • Penny Schattenkirk
    (604) 689-8765