Cardero Resource Close $1.1 Million Financing

NEWS RELEASE.

February 11, 2013: Vancouver, B.C. – Cardero Resource Corp. (Stock Profile – TSX:CDU & NYSE-MKT:CDYhas closed the last tranche of its non-brokered private placement announced Oct. 31, 2012, to raise additional gross proceeds of $1,112,500.

On Feb. 8, 2013, the company closed the second and final tranche of the non-brokered private placement announced Oct. 31, 2012. The company issued 2,472,222 shares to raise gross proceeds of $1,112,500. In connection with this closing, the company paid cash finders’ fees of $55,626 and issued 123,610 finders’ warrants, with each finder’s warrant exercisable to purchase one common share at a price of 50 cents until Feb. 8, 2014. All common shares issued in the offering will have a hold period in Canada of four months from date of issuance.

The company raised a total of $7,697,957 in connection with the closing of the offering and the flow-through offering announced Dec. 20, 2012, and will now seek to finalize formal documentation with respect to the matching debt facility with Sprott Resource Lending Partnership (as previously announced on Oct. 23, 2012). Collectively these funds will provide sufficient capital to allow the company to complete a bankable feasibility study on the Carbon Creek metallurgical coal asset scheduled for later this year, including environmental baseline work, and for general working capital.

To learn more about the Carbon Creek project – CLICK HERE.

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