Cerro de Pasco Resources Announces Private Placement of Common Share Units
Cerro de Pasco Resources Announces Private Placement
of Common Share Units
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
MONTRÉAL, QUÉBEC, CANADA — (May 26, 2023) Cerro de Pasco Resources Inc. (CSE: CDPR)
(OTCPK: GPPRF) (FRA: N8HP) (“CDPR” or the “Corporation”) is pleased to announce its intention
to complete a non-brokered private placement offering (the “Offering”) of up to 10,000,000 units
of the Corporation (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of up
to $1,000,000. Each Unit will be comprised of one common share in the capital of the Corporation
(a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will
entitle the holder thereof to purchase one Common Share at an exercise price of $0.25 per share
for a period of 24 months from the closing date of the Offering (the “Closing Date”).
In the event that, during the period following 24 months from the Closing Date, the volume -
eweighted average trading price of the Common Shares exceeds $0.60 per Common Share for
any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-
day period, accelerate the expiry date of the Warrants by delivery of notice to the registered
holders (an "Acceleration Notice") thereof and issuing a press release (a "Warrant Acceleration
Press Release", and, in such case, the expiry date of the Warrants shall be deemed to be 5:00
p.m. (Montreal time) on the 30th day following the later of (i) the date on which the Acceleration
Notice is sent to Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press
Release.
The net proceeds from the Offering will be used for working capital.
All securities issued in connection with the Offering will be subject to a four-month-and-one-day
statutory hold period in accordance with applicable securities laws.
The securities offered have not been, and will not be, registered under the United States
Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws,
and may not be offered or sold in the United States or to, or for the account or benefit of, United
States persons absent registration or any applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release
does not constitute an offer to sell or the solicitation of any offer to buy securities in the United
States, nor in any other jurisdiction.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is a mining and resource management company with unparalleled
knowledge of the mineral endowment in the city of Cerro de Pasco and its surroundings. Initially,
the Corporation will unlock the useful life of the mine and extend the concession areas in its
Santander mining operation, applying the highest safety, environmental, social and governance
standards. The key focus of growth for the Corporation is on the development of the El
Metalurgista mining concession, one of the wor ld's largest surface mineralized resources,
applying the latest techniques and innovative solutions to process tailings, extract metals and
convert the remaining waste into green hydrogen and derivatives.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” under
Canadian securities legislation. Generally, forward -looking information can be identified using
forward-looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “i ntends”,
“anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements
that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”,
“occur”, “be achieved” or other similar expressions . Forward-looking statements, including the
expectations of CDPR’s management regarding the completion of the Offering as well as the
amount of gross proceeds to be raised thereunder and the anticipated use thereof, are based on
CDPR’s estimates and are s ubject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of CDPR to be
materially different from those expressed or implied by such forward -looking statements or
forward-looking information. Forward-looking statements are subject to business and economic
factors and uncertainties and other factors that could cause actual results to differ materially
from these forward -looking statements, including the risks associate d with exploration,
development and mining activities; the impact of macroeconomic events, the impact of the
Covid-19 pandemic, and any material adverse effect on the business, properties and assets of
CDPR, as well as the relevant assumptions and risks fa ctors set out in CDPR’s public documents,
available on SEDAR at www.sedar.com. 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. Although CDPR believes that the assumptions and factors used
in preparing the forward-looking statements are reasonable, undue reliance should not be placed
on these statements and forward-looking information. Except where required by applicable law,
CDPR disclaims any intention or obligation to update or revise any forward -looking statement,
whether as a result of new information, future events or otherwise.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000
Mobile: +1-514-294-7000