Early Warning Report Filed Pursuant to Canada's National Instrument 62-103

Vancouver, British Columbia--(Newsfile Corp. - June 30, 2020) - This news release is issued by I-Pulse Inc. ("I-Pulse") pursuant to the early warning requirements of Canada's National Instrument 62-103 with respect to common shares of Cordoba Minerals Corp. ("Cordoba") (TSXV: CDB).

On June 26, 2020, I-Pulse's affiliate, High Power Exploration Inc. ("HPX") acquired 256,361,139 Cordoba common shares by exercising all rights it had been issued in a rights offering ("Rights Offering") conducted by Cordoba for existing Cordoba shareholders to acquire additional Cordoba common shares.

As consideration for entering into a standby agreement (the "Standby Agreement") with Cordoba, detailed in I-Pulse's press release of May 19, 2020, HPX also acquired 21,910,113 warrants ("Standby Warrants") to acquire Cordoba common shares at an exercise price equal to C$0.075 per Cordoba common share. These warrants represent 25% of the Cordoba shares that HPX had committed to acquire under the Standby Agreement (not including any Cordoba shares acquired pursuant to HPX's basic subscription privilege in the Rights Offering).

Upon conclusion of the Rights Offering, Cordoba has reported that the all Cordoba shares that HPX had committed to acquire under the Standby Agreement have been acquired by other Cordoba shareholders, and HPX is therefore not required to acquire any additional Cordoba shares other than the 256,361,139 Cordoba shares it acquired by exercising its own basic subscription privilege in the Rights Offering.

In addition, Cordoba has adjusted the price and quantum of previously issued warrants (the "Warrant Adjustment") held by HPX that are exercisable for Cordoba common shares. Specifically, previously issued warrants to purchase 26,605,128 Cordoba common shares for C$0.13 each, have been adjusted by a ratio of 1.35417, and previously issued warrants to purchase 2,500,000 Cordoba common shares for C$0.12 each, have been adjusted by a ratio of 1.36364. The Warrant Adjustment has adjusted HPX's warrants to purchase Cordoba common shares so that HPX now holds warrants (other than the Standby Warrants) to purchase 36,027,866 shares at C$0.096, and 3,409,100 shares at C$0.088.

Further to the closing of the Rights Offering, HPX is now the owner of 531,510,102 Cordoba common shares, representing 59.6% of Cordoba's outstanding common shares, and warrants to purchase an additional 61,347,079 Cordoba common shares. In the event that HPX exercised all warrants it holds for Cordoba common shares, it would then own Cordoba common shares representing 62.22% of Cordoba's then outstanding common shares.

All of the securities described in this release as owned by, or to be subscribed by HPX are, and will be, beneficially owned and controlled by I-Pulse.

I-Pulse, through HPX, has acquired these shares for investment purposes. Depending on economic or market conditions or matters relating to Cordoba, I-Pulse or HPX may choose to either acquire or dispose of additional Cordoba Shares.

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/58924