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Cerro de Pasco Resources Inc
Symbol CDPR
Shares Issued 266,716,294
Close 2021-04-08 C$ 0.335
Recent Sedar Documents

Cerro de Pasco closes $1.18M first tranche of financing

2021-04-08 12:16 ET - News Release

Mr. Guy Goulet reports

CERRO DE PASCO RESOURCES CLOSES $1.2M FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Cerro de Pasco Resources Inc. has closed an initial tranche of its previously announced, non-brokered private placement offering. In connection with the closing of the initial tranche, the company issued 3,395,000 units at a price of 35 cents per unit for gross proceeds of $1,188,250.

Each unit consist of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of 50 cents for a period of 24 months from the date of issuance, provided, however, that the company shall be entitled to accelerate the expiry of the warrants to the date that is 30 days following the date a notice is provided to the holders in the event that the volume-weighted average price of the shares on the Canadian Securities Exchange exceeds $1 per share for any 20 consecutive trading days at any time prior to the expiry of the warrants.

The company anticipates closing a subsequent tranche of the offering on or before April 16, 2021.

The net proceeds of the offering will be used for general working capital purposes in advancing the company's Quiulacocha tailings retreatment project in Peru. In connection with the completion of the initial tranche of the offering, the company paid finders' fees of $80,728 (6.7 per cent) to certain parties that assisted the company by introducing subscribers to the placement. The company may pay additional finders' fees on subsequent tranches of the placement.

All securities issued in connection with the closing of the initial tranche of the offering, and any subsequent tranches, will be subject to a four-month-and-one-day statutory hold period, in accordance with applicable securities laws.

About Cerro de Pasco Resources Inc.

Cerro de Pasco Resources is a resource management company, founded in 2012 and publicly listed in 2018, with the purpose of treating and reprocessing all dumps, tailings, mining waste and material resources in the Cerro de Pasco region in Peru. The company's ambition is to restore long-term sustainability to the mining activity in the Cerro de Pasco region, in harmony with a healthy and motivated local population. Cerro de Pasco Resources' team brings first-hand experience and ideas based on innovative solutions and a holistic approach, aiming to create numerous opportunities in a circular economy.

We seek Safe Harbor.

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