On March 6, 2026, Cordoba Minerals Corp. completed the sale of its remaining 50% interest in the Alacrán Project in Colombia, along with all other exploration assets in Colombia and certain accounts receivable to Veritas Resources AG, an entity owned by a consortium of experienced mining investors led by JCHX Mining Management Co., Ltd.
Upon closing of the transaction, Cordoba Minerals received cash proceeds of US$128 million. The transaction was completed by way of the divestment of Cordoba’s wholly owned Colombian subsidiaries, Minerales Cordoba S.A.S. and Exploradora Cordoba S.A.S. to Veritas. Veritas now holds a 100% interest in the Alacrán Project and has assumed full operational responsibility for the project.
Cordoba Minerals also distributed US$1.01 per common share to its shareholders (being an aggregate of approximately US$98.5 million) of the cash proceeds received in connection with the transaction by way of plan of arrangement.
Cassels acted for Cordoba Minerals.