CDB) Pronounces the Receipt of US$10 Million Bridge Mortgage from JCHX

Date:


Vancouver, British Columbia – January 4, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Sarah Armstrong-Montoya, President and Leader Government Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (another way “Cordoba” or the “Corporate”), is happy to announce that the Corporate has won the price range with admire to the mortgage of US$10 million (the “Bridge Mortgage”) from a subsidiary of JCHX Mining Control Co., Ltd. (“JCHX”).

The Bridge Mortgage is for an 18-month time period and bears easy passion at 12% in keeping with annum all over the primary twelve (12) months of the time period, and bears easy passion at 14% in keeping with annum all over the rest six (6) months of the time period, which will be calculated at the foundation of a 365-day 12 months.

As indicated within the Corporate’s information unlock dated December 8, 2022, the Bridge Mortgage might be implemented against the primary installment fee required pursuant to the strategic association between JCHX and the Corporate for the joint-development of the Corporate’s flagship Alacran Undertaking in Colombia (the “Transaction”). The Corporate anticipates that the Transaction might be finished across the finish of February 2023, upon the pleasure or waiver of all stipulations to finishing touch of the Transaction.

The proceeds from the Bridge Mortgage might be used to verify the Corporate can proceed exploration actions and development of its mineral initiatives, together with the Feasibility Learn about technical paintings program on the Alacran Undertaking, the reimbursement of US$2.5 million of the temporary loans that have been prior to now supplied by means of its majority shareholder Ivanhoe Electrical Inc., and for basic company functions.

“The participation of JCHX within the Undertaking supplies an aligned strategic spouse as we’re ceaselessly advancing the Feasibility Learn about paintings program at Alacran,” commented Ms. Sarah Armstrong-Montoya, President and CEO of Cordoba. “We proceed to concentrate on growing Alacran right into a venture that can generate vital price for the entire stakeholders with tough venture economics and supply advantages to the native communities and financial system in Colombia.”

About Cordoba

Cordoba Minerals Corp. is a mineral exploration corporate targeted at the exploration, advancement and acquisition of copper and gold initiatives. Cordoba is growing its 100%-owned San Matias Copper-Gold-Silver Undertaking, which contains the Alacran deposit and satellite tv for pc deposits at Montiel East, Montiel West and Costa Azul, positioned within the Division of Cordoba, Colombia. Cordoba additionally holds a 51% passion within the Perseverance Copper Undertaking in Arizona, USA, which it’s exploring thru a Joint Project and Earn-In Settlement. For additional data, please consult with www.cordobaminerals.com.

ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Leader Government Officer

Knowledge Touch

Ran Li +1-604-689-8765
information@cordobamineralscorp.com

Neither the TSX Project Alternate nor its Legislation Services and products Supplier (as that time period is outlined within the insurance policies of the TSX Project Alternate) settle for duty for the adequacy or accuracy of this unlock.

Ahead-Having a look Statements

This information unlock comprises “forward-looking statements” and “forward-looking data” inside the that means of Canadian securities law. All statements integrated on this information unlock, instead of statements of historic reality, are forward-looking statements together with, with out limitation, the Alacran Undertaking and advancement thereof; three way partnership association with JCHX; the Bridge Mortgage, together with reimbursement time table and supposed functions of the Bridge Mortgage. Ahead-looking statements come with predictions, projections and forecasts and are frequently, however no longer at all times, recognized by means of phrases equivalent to “look ahead to”, “consider”, “plan”, “estimate”, “be expecting”, “attainable”, “goal”, “finances” and “intend” and statements that an match or end result “would possibly”, “will”, “must”, “may just” or “may” happen or be accomplished and different an identical expressions and comprises the negatives thereof.

Ahead-looking statements are in response to various assumptions and estimates that, whilst thought to be affordable by means of control in response to the industry and markets through which Cordoba operates, are inherently matter to vital operational, financial, and aggressive uncertainties, dangers and contingencies. There may also be no assurance that such statements will turn out to be correct and precise effects, and long term occasions may just fluctuate materially from the ones expected in such statements. Necessary components that would motive precise effects to fluctuate materially from the Corporate’s expectancies come with precise exploration effects, interpretation of metallurgical traits of the mineralization, adjustments in venture parameters as plans proceed to be delicate, long term steel costs, availability of capital and financing on appropriate phrases, basic financial, marketplace or industry stipulations, uninsured dangers, regulatory adjustments, delays or incapability to obtain required approvals, and different exploration or different dangers detailed herein and every so often within the filings made by means of the Corporate with securities regulators, together with the ones described underneath the heading “Dangers and Uncertainties” within the Corporate’s maximum lately filed MD&A. The Corporate does no longer adopt to replace or revise any forward-looking statements, excluding in keeping with appropriate legislation. Readers are cautioned to not put undue reliance on those forward-looking statements.

Extra Data:

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