Cordoba Minerals Corp. announced a private placement of promissory note for gross proceeds of $2,000,000 on December 15, 2022. The notes bears interest at 12% per annum, compounding only at maturity.

The interest rate will increase to 14% per annum if Cordoba does not repay the amount owing upon the maturity date, which is March 15, 2023. The transaction will include participation from returning investor Ivanhoe Electric Inc..