On July 31, 2017, Cordoba Minerals Corp. (“Cordoba”) announced the completion of its acquisition of a 51% interest in the San Matias Joint Venture from High Power Exploration Inc. (“HPX”) through the acquisition of the shares of a wholly-owned subsidiary of HPX (the “Transaction”). Cordoba financed the Transaction by way of a bought deal private placement offering (the “Offering”) of subscription receipts (the “Subscription Receipts”) completed on July 11, 2017. Each Subscription Receipt was sold at a price of $0.81, for aggregate gross proceeds of approximately $10 million, and entitled the holder thereof to receive one common share in the capital of Cordoba and one-half of one common share purchase warrant (with each whole common share purchase warrant exercisable to acquire one common share of the Company at a price of $1.08 per common share, until July 11, 2019, subject to adjustment in certain events) upon closing of the Transaction. BMO Capital Markets acted as the lead underwriter of the Offering for a syndicate of underwriters including Sprott Private Wealth LP and Haywood Securities Inc.
Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. Cordoba is currently focused on the highly prospective, district-scale San Matias Copper-Gold Project located at sea level with excellent infrastructure and near operating open-pit mines in the Department of Cordoba.
Osler, Hoskin & Harcourt LLP represented BMO Capital Markets with a team consisting of Jeremy Fraiberg and Rebecca Wainstein (Corporate).