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6/21/17

Cordoba and the TSX

Here's the juice: It seems that the TSX is actually doing its job for once and is objecting to the terms of the CDB/HPX deal. The deal did get pre-approval from the TSXV before being announced, but what they didn't disclose beforehand was the bullshit sweetheart placement terms that gave Friedland's chosen pals a cheap way in, to the detriment of current shareholders. As CDB is basically owned and run by Friedland, the TSX complaint is of a lack of fiduciary duty towards current shareholders and are objecting to the way in which people like Sprott USA are being favoured.

The TSX (V) wants CDB to drop the placement. Friedland is having a fit of pique and refusing point blank. This could take some time.