Cordoba Mineral Corp.'s recent conditional approval from the TSX Venture Exchange (TSXV) of a proposed transaction with the company's joint venture, High Power Exploration (HPX) will leave the company better situated according to President and CEO Mario Stifano.

Stifano said that the transaction will revamp Cordoba and update the relationship with HPX from the old joint venture.

"Well, we think this transaction really simplifies the capital structure of Cordoba. Cordoba will now have 100 percent interest in our highly prospective copper-gold San Matias project," he said. "At the same time, we're converting HPX which is a private company led by mining engineer Robert Friedland, into Cordoba. So under the current structure of the old joint venture, HPX effectively had a 56 percent economic interest in the project and they're now converting that into a 66 percent interest in Cordoba."

The transaction will be closed following the company's annual and special meeting on July 27, where it will require a minority shareholder approval, as well as final approval from the TSXV.