The 31 year-old moves to Mallorca in a permanent transfer, penning a three-year contract.
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The Colombian international leaves Villarreal for a €1m fee.
Mojica boasts over more than 100 matches in the Primera Division, as in addition to Villarreal and Osasuna, he has played for Rayo Vallecano, Real Valladolid, Girona and Elche.