Ivanhoe Industries, LLC

October 22, 2015 20:01 ET

Proposed Acquisition of Common Shares of Cordoba Minerals Corp.

NEW YORK, NEW YORK--(Marketwired - Oct. 22, 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").

In their press release dated October 21, 2015, Cordoba announced a C$1,600,000 private placement through the issue of 13,333,333 common shares at C$0.12 per common share. Ivanhoe Industries, through its affiliate HPX Colombia Ventures Ltd. ("HPX"), intends to purchase as much as 100% of this private placement.

13,333,333 Cordoba common shares will represent approximately 17% of Cordoba's then issued and outstanding common shares at closing.

Following the private placement, Ivanhoe Industries will be deemed to beneficially own 27,933,333 common shares (including 7,300,000 unissued common shares issuable upon the exercise of common share purchase warrants), representing approximately 32% 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 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 E31.

Contact Information

  • Penny Schattenkirk
    (604) 689-8765