Ivanhoe Industries, LLC

Ivanhoe Industries, LLC

October 29, 2015 20:03 ET

Correction Notice of News Release on Proposed Acquisition of Common Shares of Cordoba Minerals Corp.

NEW YORK, NEW YORK--(Marketwired - Oct. 29, 2015) - Ivanhoe Industries, LLC announced a correction to its news release dated October 26, 2015, titled "Proposed Acquisition of Common Shares of Cordoba Minerals Corp.".

In the news release, the date of the share purchase agreement was misstated. The news release was filed in error prior to the conclusion of negotiations on the purchase of the Shares. The corrected statement is as follows:

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").

Under the terms of a share purchase agreement dated October 29, 2015, Ivanhoe Industries, through its affiliate, HPX Colombia Ventures Ltd. has agreed to purchase and acquire ownership and control of 2,000,000 common shares (the "Shares") of Cordoba from an existing holder of Cordoba common shares at a price of $0.14 per Share.

Upon completion of the purchase of the Shares, Ivanhoe Industries will beneficially own and control 9,300,000 common shares (14% of the issued and outstanding common shares) and will be deemed to beneficially own 29,933,333 common shares (including 7,300,000 unissued common shares issuable upon the exercise of common share purchase warrants and 13,333,333 common shares also deemed to be owned), representing approximately 34.5% of Cordoba's then issued and outstanding common shares on a partially diluted basis. All of these securities will be beneficially owned and controlled by Ivanhoe Industries.

Ivanhoe Industries is acquiring 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