Cordoba Minerals Arranges US$10 Million Bridge Financing with JCHX
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) has secured US$10 million in bridge financing from JCHX Mining Management Co., The financing consists of two US$5 million loans, one directly to Cordoba and another to the joint venture entity holding the Alacran Copper-Gold-Silver Project in Colombia. The Bridge Loans carry a 10% annual interest rate for the first six months, increasing to 12% thereafter. The loans mature in 36 months or when JCHX's third US$20 million installment becomes due under their US$100 million strategic arrangement. The funds will support the advancement of mineral projects, including detailed engineering design work at Alacran Project, and general corporate purposes.
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) ha ottenuto 10 milioni di dollari statunitensi in finanziamenti bridge da JCHX Mining Management Co. Il finanziamento consiste in due prestiti da 5 milioni di dollari ciascuno, uno direttamente a Cordoba e l'altro all'entità di joint venture che detiene il Progetto Coperto-Oro-Argento Alacran in Colombia. I prestiti bridge hanno un tasso d'interesse annuale del 10% per i primi sei mesi, che aumenterà al 12% successivamente. I prestiti scadranno in 36 mesi o quando la terza rata di 20 milioni di dollari di JCHX diventerà esigibile ai sensi del loro accordo strategico da 100 milioni di dollari. I fondi supporteranno l'avanzamento dei progetti minerari, inclusi i lavori di progettazione ingegneristica dettagliata presso il Progetto Alacran e scopi aziendali generali.
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) ha asegurado 10 millones de dólares estadounidenses en financiamiento puente de JCHX Mining Management Co. El financiamiento consiste en dos préstamos de 5 millones de dólares, uno directamente a Cordoba y otro a la entidad de empresa conjunta que posee el Proyecto de Cobre-Oro-Plata Alacran en Colombia. Los préstamos puente tienen una tasa de interés anual del 10% durante los primeros seis meses, aumentando al 12% posteriormente. Los préstamos vencerán en 36 meses o cuando el tercer pago de 20 millones de dólares de JCHX sea exigible en virtud de su acuerdo estratégico de 100 millones de dólares. Los fondos apoyarán el avance de los proyectos mineros, incluidos los trabajos de diseño de ingeniería detallada en el Proyecto Alacran, y fines corporativos generales.
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF)는 JCHX Mining Management Co.로부터 1000만 달러의 브릿지 파이낸싱을 확보했습니다. 이 자금 조달은 Cordoba에 직접 제공되는 500만 달러의 대출 두 건으로 구성되며, 하나는 Alacran 구리-금-은 프로젝트를 보유한 합작 투자 법인에 제공됩니다. 브릿지 대출은 처음 6개월 동안 연 10%의 이자율을 적용하고, 그 이후에는 12%로 증가합니다. 대출은 36개월 후 만기되거나 JCHX의 세 번째 2000만 달러 할부가 1억 달러 전략적 계약에 따라 만기가 될 때 지급됩니다. 이 자금은 Alacran 프로젝트에 대한 상세 엔지니어링 설계 작업을 포함하여 광물 프로젝트의 진행과 일반 기업 목적을 지원할 것입니다.
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) a sécurisé 10 millions de dollars américains en financement de pont auprès de JCHX Mining Management Co. Le financement consiste en deux prêts de 5 millions de dollars, l'un directement à Cordoba et l'autre à l'entité de coentreprise détenant le projet Alacran de cuivre-or-argent en Colombie. Les prêts à court terme portent un taux d'intérêt annuel de 10 % pendant les six premiers mois, augmentant à 12 % par la suite. Les prêts arriveront à maturité dans 36 mois ou lorsque le troisième versement de 20 millions de dollars de JCHX sera dû dans le cadre de leur accord stratégique de 100 millions de dollars. Les fonds soutiendront l'avancement des projets miniers, y compris les travaux de conception d'ingénierie détaillée au projet Alacran, et pour des fins corporatives générales.
Cordoba Minerals (TSXV: CDB) (OTCQB: CDBMF) hat 10 Millionen US-Dollar in Brückenfinanzierung von JCHX Mining Management Co. gesichert. Die Finanzierung besteht aus zwei 5 Millionen US-Dollar Darlehen, eines direkt an Cordoba und ein anderes an das Joint-Venture-Unternehmen, das das Alacran Kupfer-Gold- Silber-Projekt in Kolumbien hält. Die Brückendarlehen haben einen jährlichen Zinssatz von 10 % für die ersten sechs Monate, der danach auf 12 % steigt. Die Darlehen laufen in 36 Monaten ab oder wenn die dritte Ratenzahlung von 20 Millionen US-Dollar von JCHX fällig wird, gemäß ihrer strategischen Vereinbarung über 100 Millionen US-Dollar. Die Mittel werden die Weiterentwicklung von Mineralprojekten unterstützen, einschließlich detaillierter Ingenieurezplanung beim Alacran-Projekt sowie allgemeiner Unternehmenszwecke.
- Secured US$10 million bridge financing to advance project development
- Strategic partnership with JCHX demonstrates continued support for project advancement
- Funding ensures continuation of detailed engineering design work at Alacran Project
- High interest rates of 10-12% on bridge loans
- Related party transaction with major shareholder indicates possible external funding options
Vancouver, British Columbia--(Newsfile Corp. - December 27, 2024) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise "Cordoba" or the "Company") announces that the Company has arranged US
Both Bridge Loans bear simple interest at
The purpose of the Bridge Loans is to ensure the Company can continue the advancement of its mineral projects, including the detailed engineering design work program at the Alacran Copper-Gold-Silver Project in Colombia, and for general corporate purposes.
The transactions specified herein constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as JCHX is a related party of Cordoba given its greater than
The Bridge Loan that is being received by the Company which it will then on-lend to the joint venture entity is subject to the approval of the TSXV.
"With the support from our joint venture partner, JCHX, the Alacran Project continues to moving forward with our targeted timeline," commented Ms. Sarah Armstrong-Montoya, President and CEO of Cordoba. "With a shared vision with our partner, the Alacran Project is steadily advancing to be the next copper mine in Colombia in the near future."
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
Ran Li +1-604-689-8765
info@cordobamineralscorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, the Alacran Project and development thereof; joint venture arrangement with JCHX; the Bridge Loans, including repayment and intended purposes of the Bridge Loans, and the receipt of the approval of the TSXV. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "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.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, 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, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235292
FAQ
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