Acquisition of Common Shares of Cordoba Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 3, 2019) - This news release is issued by I-Pulse Inc. ("I-Pulse") pursuant to the early warning requirements of Canada's National Instruments 62-104 and 62-103 with respect to common shares of Cordoba Minerals Corp. ("Cordoba").
I-Pulse announces that further to Cordoba's September 24, 2019 news release, it has acquired ownership and control over 65,059,800 common shares of Cordoba (the "Conversion Shares") through its affiliate, High Power Exploration Inc. ("HPX"). The 65,059,800 common shares represent 17.8% of the current issued and outstanding common shares of Cordoba. The 65,059,800 common shares were issued as a result of conversion of certain amounts owing to HPX from Cordoba, and result in I-Pulse beneficially owning or exercising control and direction over 275,148,963 common shares of Cordoba, representing 75.3% of Cordoba's issued and outstanding common shares, not including any common shares issuable upon exercise of the Cordoba warrants held by HPX which are exercisable for 29,105,128 common shares of Cordoba.
Immediately prior to the conversion, I-Pulse had beneficial ownership and control over 210,089,163 common shares, representing approximately 69.9% of the then-issued and outstanding common shares of Cordoba. Following the issuance of the Conversion Shares, I-Pulse has beneficial ownership and control over 275,148,963 common shares, representing 75.3% of the current issued and outstanding common shares of Cordoba, and is deemed to beneficially own an additional 29,105,128 common shares issuable upon exercise of common share purchase warrants of Cordoba, representing an aggregate of approximately 77.1% of Cordoba's then issued and outstanding common shares on a partially-diluted basis. All of these securities are beneficially owned and controlled by I-Pulse, through its affiliate, HPX.
I-Pulse is acquiring these common shares for investment purposes. Subject to the rules of the TSX Venture Exchange and applicable securities laws, I-Pulse may, depending on market and other conditions, increase or decrease its beneficial ownership of Cordoba's securities, whether in the open market, by privately negotiated agreements, or otherwise, subject to a number of factors including general market conditions and other available investment and business opportunities.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Cordoba's profile on the SEDAR website (www.sedar.com), or contact Sam Kenny at (604) 689-8765. I-Pulse has an office c/o 654-999 Canada Place, Vancouver, British Columbia, Canada, V6C 3E1.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48487