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Do You Know Why CDBMF Stock Dropped 10%?

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Over the past trading session, Cordoba Minerals (OTCQB: CDBMF) shares declined -10.05% to $0.7184.During the session, Cordoba Minerals stock price remained at 0.7184, while 500 shares were traded. CDBMF stock remains volatile after closing of first tranche of non-brokered private placement.

How did that private placement work?

A mining exploration company, Cordoba Minerals explores, develops, and acquires copper and gold projects. San Matias Copper Gold Silver Project, owned 100% by CDBMF, includes the Alacran Deposit as well as satellite deposits in Cambia and Montiel in Colombia’s Department of Cordoba. Similarly, CDBMF holds a 25% stake in the Perseverance Copper Project in Arizona, USA, which is under exploration through a joint venture and earn-in agreement.

Cordoba Minerals Inc. announced that its non-brokered private placement has closed its first tranche of the previously announced non-brokered placement by Sarah Armstrong-Montoya, President and Chief Executive Officer.

  • Ivanhoe Electric Inc., CDBMF’s majority shareholder, received 1,823,685 common shares of CDBMF upon the close of this tranche of the Offering.
  • Approximately $2,006,053.50 in gross proceeds were generated from CDBMF’s offering of Common Shares at a price of $1.10.
  • JCHX Mining Management Co., Ltd., CDBMF’s second largest shareholder, intends to purchase Common Shares that will increase the company’s stake to 19.99% on an undiluted basis.
  • Early June 2021 is anticipated as the closing date for the JCHX tranche.

How CDBMF will use proceeds:

The net proceeds from the Offering will be used by CDBMF to supervise the project’s Pre-Feasibility Study and to conduct regular operations tasks. A four month and one day hold period expires on October 3, 2021, in connection with the Common Shares being offered by Cordoba Minerals (CDBMF) pursuant to exemptions from prospectus requirements.

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