Cerro de Pasco Provides Update on MCTO
CSE: CDPR
Cerro de Pasco Provides Update on MCTO
MONTREAL, QUEBEC, CANADA - (June 10, 2022) Cerro de Pasco Resources Inc. (CSE: CDPR) (Frankfurt:
N8HP) (“CDPR” or the “ Corporation”) is providing an update with respect to its previously announced
management cease trade order (“MCTO”) issued by the Corporation’s principal regulator, the Autorité des
marchés financiers (the “AMF”), on May 2, 2022. The MCTO was issued following the Corporation’s
announcement on April 29, 2022 (the “Default Announcement”) that it was unable to file its audited
consolidated financial statements, its management’s discussion and analysis and related officer
certifications for the year ended December 31, 2021 (collectively the “Required Documents”), before the
prescribed deadline of May 2, 2022.
Further to the Default Announcement and the subsequent updates provided by the Corporation on May
17, 2022 and May 27, 2022, the Corporation reports that it continues to work diligently with its auditors
to finalize the Required Documents and that, primarily due to delays in the incorporation of the annual
results of its recently acquired subsidiary, Trevali Peru, into CDPR’s financial statements and audit review
thereof, the Corporation now expects to file the Required Documents on or before June 23, 2022. As a
result of the delay in filing the Required Documents, the Corporation was unable to file its interim financial
statements, its management’s discussion and an alysis and related officer certifications for the three-
month period ended March 31, 2022 (the “Interim Filings”) by the filing deadline of May 30, 2022. The
Corporation anticipates filing the Interim Filings forthwith upon filing the Required Documents.
As previously announced, pursuant to the MCTO, the CEO, the CFO and all the directors of the Corporation
may not trade in securities of the Corporation until such time as the Corporation files the Required
Documents and the AMF revokes the MCTO. The MCTO does not affect the ability of shareholders to trade
their securities.
The Corporation is providing this bi-weekly default status report in accordance with Policy Statement 12-
203 respecting Management Cease Trade Orders (“PS 12 -203”). Until such time as the Corporation files
the Required Documents and the MCTO has been revoked, the Corporation intends to follow the
provisions of the Alternative Information Guidelines set out in PS 12 -203, including the issuance of bi -
weekly default status reports in the form of news releases.
Pursuant to the provisions of the alternative information guidelines specified in PS 12-203, the Corporation
confirms that, as of the date of this news release and except as noted above , (a) there have been no
material changes to the information contained in the Default Announcement that would reasonably be
expected to be material to an investor; (b) there have been no failures by the Corporation to fulfill its
stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under PS
12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the
default which is the subject of the Default Announcement; and (d) there is no other material information
concerning the affairs of the Corporation that has not been generally disclosed.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is a resource management company, founded in 2012 with the original
purpose of developing the El Metalurgista mining concessio n comprising mineral tailings and stockpiles
extracted from the Cerro de Pasco open -pit mine in central Peru. Our strategic strength lies in our
extensive team experience and knowledge of the opportunities and challenges in and around Cerro de
Pasco. The c ompany is founded on clear objectives, to engender long -term economic sustainability and
benefit for the local population, from an economic, social and health point of view. The company’s
approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and
the creation of numerous opportunities in a circular economy.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” or “forward-looking
statements” und er Canadian securities legislation. Generally, forward -looking information can be
identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “could”, “will”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or variations including negative
variations thereof of such words and phrases that refer to certain actions, events or results that may, occur
or be taken or achieved. Such forward-looking statements, including but not limited to statements relating
to the expected development and operations of the Corporation, statements concerning the timing,
review, completion and filing of the Required Documents and Interim Filings as well as the duration of the
MCTO, involve risks, uncertainties and other facto rs which may cause the actual results to be materially
different from those expressed or implied by such forward -looking statements or forward -looking
information. Such factors include, among others, risks related to the exploration, development and mining
operations; impacts of macroeconomic developments as well as the impact of the COVID -19 pandemic;
and any material adverse effect on the business, properties and assets of the Corporation. There can be
no assurance that such statements will prove to be ac curate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and forward-looking information. The Corporation will not update
any forward-looking statements or forward -looking information included herein, except as required by
applicable securities laws.
Contact Information
Cerro de Pasco Resources Inc.
Guy Goulet, CEO
Tel.: 579-476-7000
Email: [email protected]