JCHX Mining Management Co., Ltd. (SHSE:603979) entered into an agreement to acquire 50% stake in CMH Colombia S.A.S. from Cordoba Minerals Corp. (TSXV:CDB) for $100 million on December 7, 2022. At closing of the transaction, $40 million will be payable in cash, a second installment of $40 million is payable in cash upon completion of a Cordoba board approved Feasibility Study of the Alacran Project, and the submission of the Environmental Impact Assessment ("EIA") to the relevant Colombian Government authority, third and final installment of $20 million is payable in cash once the approval of the EIA is obtained, which must be within two years of the transaction's closing date.

JCHX will advance a bridge loan of $10 million in cash to Cordoba, which is expected to be funded prior to the end of December 2022, following the signing of the milestone agreements and conditional upon JCHX shareholder approval. As of December 26, 2022, JCHX Mining Management Co., Ltd. shareholders approved the acquisition. As of January 4, 2023, Cordoba Minerals announce that the Company has received the funds with respect to the loan of $10 million (the "Bridge Loan") from a subsidiary of JCHX Mining Management Co., Ltd. The deal is expected to complete by the end of Q1 2023, subject to approval from Cordoba shareholders, JCHX board of directors and shareholders, China's State Administration of Foreign Exchange, and Beijing Municipal Bureau of Commerce. As of February 8, 2023, Cordoba Minerals Corp’s shareholders have overwhelmingly voted in favour of the strategic transaction with JCHX Mining Management. As of February 10, 2023, the closing of the Transaction is now anticipated to be in Q2 of 2023. As of February 22, 2023, JCHX Mining Management Co., Ltd. board approved the transfer and completed the due diligence work. JCHX has advanced $10 million as a bridge loan. The proceeds of the transaction will be used to ensure the advancement of the Alacran Project, including the FS technical work program, in-fill drilling campaign, and repayment of the short-term loans that were previously provided by Ivanhoe Electric. David Redford, Alexander (Alex) Pizale, Matthew Alter, Andrea Gorys, Davit Akman and Corinne Grigoriu of Cassels Brock & Blackwell LLP acted as legal advisor to Cordoba Minerals Corp. (TSXV:CDB). Terence Foo of Clifford Chance LLP (Beijing) acted as legal advisor to JCHX Mining Management in the transaction. Haywood Securities Inc. acted as fairness opinion provider to CMH Colombia and Osler, Hoskin & Harcourt LLP acted as legal advisor to Cordoba Minerals Corp.

JCHX Mining Management Co., Ltd. (SHSE:603979) completed the acquisition of 50% stake in CMH Colombia S.A.S. from Cordoba Minerals Corp. (TSXV:CDB) on May 8, 2023.