Ivanhoe Industries LLC

Ivanhoe Industries LLC

February 10, 2016 09:30 ET

Ivanhoe Industries: Acquisition of Common Shares of Cordoba Minerals Corp.

NEW YORK, NEW YORK--(Marketwired - Feb. 10, 2016) - 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 agreed to acquire ownership and control of 2,000,000 common shares (the "Shares") of Cordoba Minerals Corp. ("Cordoba") (TSX VENTURE:CDB) at a price of C$0.1375 per Share and 2,000,000 common share purchase warrants ("Warrants") at a price of C$0.0025 per Warrant, both from an existing shareholder.

Upon completion of this transaction and the transaction disclosed on February 3, 2016, Ivanhoe Industries will have actual beneficial ownership and control over 25,070,833 common shares representing 31.6% of the currently issued and outstanding common shares, and will be deemed to beneficially own 34,370,833 common shares (including 9,300,000 unissued common shares issuable upon the exercise of common share purchase warrants and the Warrants), representing approximately 38.7% 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