VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 23, 2014) - Cordoba Minerals Corp. (TSX VENTURE:CDB) ("Cordoba" or the "Company") reports that it will immediately be seeking TSX Venture Exchange approval of the consolidation of the Company's issued and outstanding share capital. The currently outstanding common shares of Cordoba (the "Common Shares") will be consolidated on the basis of one new Common Share for two existing Common Shares (the "Consolidation"). In the event that the number of existing Common Shares held by a shareholder is not evenly divisible by two, the number of post-Consolidation Common Shares issued to such shareholder shall be rounded up to the next greater whole number if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number if the fractional entitlement is less than 0.5.
The proposed Consolidation was unanimously approved at the Company's special meeting of shareholders held on March 25, 2014, subject to implementation at the discretion of the Board of Directors. The Consolidation was proposed as part of the transaction agreement whereby Cordoba acquired by way of plan of arrangement all of the issued and outstanding common shares of Sabre Metals Inc. and all of the issued and outstanding common shares of Cordoba Holdings Corp. it did not already own, and the Board has now decided to proceed with the Consolidation.
The Company currently has outstanding 117,624,206 Common Shares, 35,516,874 warrants, 2,625,600 broker compensation options, and 2,481,201 incentive stock options. Post-Consolidation, the Company will have outstanding 58,812,103 Common shares, 17,758,437 warrants, 1,312,800 broker compensation warrants, and 1,240,601 incentive stock options.
About Cordoba Minerals
Cordoba Minerals Corp. is a Vancouver-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. Cordoba currently owns 100% of the highly prospective San Matias Project located near operating open pit mines with ideal topography in the Department of Cordoba. For further information, please visit www.cordobamineralscorp.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.
Symbol: TSX VENTURE:CDB
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", 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. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential of the Company's properties are forward-looking statements that involve various risks and uncertainties. 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, 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. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.