The short-term loan of
The purpose of the bridge loan is to ensure that the Company can pursue its exploration activities and the progress of its mining projects, including the technical work program for the feasibility study on the 100% owned site.
“With the continued support of our majority shareholder,
The bridge loan constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) because IE is a related party of Cordoba given its profit share of more than 10%. Pursuant to Section 5.7(1)(f) of NI 61-101, the Company is exempt from obtaining the approval of the Company’s minority shareholders in respect of the Bridge Loan, as it has been determined that the bridge loan is on reasonable commercial terms that are no less advantageous to the Company than if the bridge loan had been obtained from a person dealing at arm’s length with the Company and because the bridge loan is not convertible or redeemable in shares or voting securities of the Company or a subsidiary of the Company or otherwise participate in nature. The Company will file a material change report with respect to the Bridge Loan. However, the material change report will be filed less than 21 days before the closing of the bridge loan, which is consistent with market practice and which the Company considers reasonable in the circumstances.
President and CEO
Such. : +1-604-689-8765
Email: [email protected]
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws. All statements included in this press release, other than statements of historical fact, are forward-looking statements, including, but not limited to, the bridge loan, including drawdown, repayment schedule and anticipated goals. bridge loan; potential financing by the Company; additional advances by ie; and the filing of a material change report on the bridge loan. 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’, ‘goal’, ‘budget’ and ‘intent’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘might’ or ‘might’ occur or be achieved and other similar expressions, including their negative forms.
Forward-looking statements are based on a number of assumptions and estimates which, although considered reasonable by management based on the businesses and markets in which Cordoba operates, are inherently subject to significant uncertainties, risks and contingencies. operational, economical and competitive. 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 mineralization, changes in project parameters as plans continue being refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or failure to receive required approvals, and other exploration or other risks detailed herein and from time to time in documents filed by the Company with securities regulatory authorities, including those described under the heading “Risks and Uncertainties” in the latest management report filed by the Company. The Company does not undertake to update or revise any forward-looking statements except in accordance with applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements.