Cardero Resource Corp. (TSXV:CDU) announced a non-brokered private placement of up to 33,333,333 at an issue price of CAD 0.03 per unit for gross proceeds of CAD 999,999.99 on August 26, 2019. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.05 per share for a period of 24 months from the date of issue, subject to accelerated expiry should the common shares trade on the TSX Venture Exchange is at least CAD 0.06 for a minimum of ten consecutive trading days or higher for ten consecutive trading days and a notice of acceleration is provided in accordance with the terms of the warrant, may accelerate the expiry date of the warrants to a date 30 days after the date of the notice. The insiders of the company may participate in the transaction. The company may pay finder’s fee on all or a portion of the funds raised under this transaction. The transaction is subject to TSX Venture Exchange approval.