Cerro de Pasco Provides Update on MCTO
Cerro de Pasco Provides Update on MCTO
MONTREAL
,
June 24, 2022
/CNW/ - 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,
May 27
, 2022and
June 10, 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
July 4, 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
analysis 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Corporation files the Required Documents and the MCTO has been revoked, the Corporation intends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 mining and resource management company, founded in 2012
with the original purpose of developing the El Metalurgista mining concession 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 company 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" under 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 factors 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 accurate, 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.
SOURCE
Cerro de Pasco Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/June2022/24/c9800.html
%SEDAR: 00020073E
For further information:
Cerro de Pasco Resources Inc., Guy Goulet, CEO, Tel.: 579-476-7000,
Email: [email protected]
CO: Cerro de Pasco Resources Inc.
CNW 16:30e 24-JUN-22