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7/25/18

The real boss of Cordoba Minerals (CDB.v) begins to paper up

And you definitely get the impression this is only one stage of the process. I mean, this is just HPX getting theirs, we need to wait for the non-brokered placement when Robert's inner circle get their slices of the cake as well. Lucas and Rick, cheque books ready in 1q19, yeah?

Anyway, this:
Cordoba proposes to issue HPX 16,289,619 common shares in Cordoba through the Placement at a deemed price of C$0.105 per common share. Cordoba also proposes to convert the principal and interest owed to HPX under the short-term loans that it previously advanced to the Company (the “Loans”) into common shares (the “Debt Conversion”) at a price per share that is equal to the issue price under the Placement. Accordingly, HPX is expected to receive an additional 21,941,567 common shares in connection with converting the US$1.75 million owed under the Loans.
Cordoba also proposes to issue 5,336,103 Shares to HPX at the same price per share as under the Placement to satisfy a deferred payment owed to HPX totalling US$425,850 relating to Cordoba’s acquisition of the Alacran Project (the “Omni Settlement”).
Completion of the Placement, the Debt Conversion and the Omni Settlement are subject to TSX Venture Exchange approval and closing is expected to occur on, or about, August 3, 2018. Upon completion of the transactions, HPX is expected to own 180,984,035 common shares in Cordoba, representing a 72.3% interest.