Cerro de Pasco Resources Closes $1.2M First Tranche of Non- Brokered Private Placement
CSE:CDPR
Cerro de Pasco Resources Closes $1.2M First Tranche of Non-
Brokered Private Placement
MONTRÉAL, QUÉBEC, CANADA — (April 8, 2020) Cerro de Pasco Resources Inc. (CSE: CDPR)
(OTCPK: GPPRF) (FRA: N8HP) (“CDPR” or the “Company”) is pleased to announce that it has closed
an initial tranche of its previously announced non -brokered private placement offering (the
“Offering”). In connection with the closing of the initial tranche, the Company issued 3,395,000
units (each, a “Unit”) at a price of $0.35 per Unit for gross proceeds of $1,188,250.
Each Unit consist of one common share of the Company (each, a “Share”) and one-half of one
common share purchase warrant (each full warrant, a “ Warrant”). Each Warrant entitles the
holder to purchase an additional common share at a price of $ 0.50 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 holder in the event that the volume weighted average price of the Shares on the Canadia n
Securities Exchange exceeds $1.00 per Share for any twenty (20) consecutive trading days at any
time prior to the expiry of the Warrant.
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 finder’s fees of $80,728 (6.7%)
to certain parties who assisted the Company by introducing subscribers to the placement. The
Company may pay additional finder’s fee on subsequent tranches of the placement.
All securities issued in connection the closing of th e 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.
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 a pplicable 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 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. Our 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. Our team brings first-hand experience and ideas based on innovative
solutions and a holistic approach, aiming to create numerous opportunities in a circular economy.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking inform ation” under
Canadian securities legislation. Generally, forward -looking information can be identified by the
use of forward -looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”,
“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 Transaction as well as the
business and the expansion and growth of CDPR’s operations, are based on CDPR’s estimates and
are subject to known and unknown risks, uncertainties and other factors that may cau se 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 a nd economic factors and
uncertainties, and other factors that could cause actual results to differ materially from these
forward-looking statements, including the relevant assumptions and risks factors 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 s tatement, 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