Cerrado GOLD Announces Share Issuance to Sprott Streaming and Royalty Corp.
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January 18, 2024 www.cerradogold.com
CERRADO GOLD ANNOUNCES SHARE ISSUANCE TO SPROTT STREAMING AND ROYALTY
CORP.
TORONTO, ONTARIO - Cerrado Gold Inc. [TSX.V: CERT][OTCQX: CRDOF] (“Cerrado” or the
“Company”) announces in connection with the US$20 million secured note (the "Note") issued by
Cerrado to Sprott Resource Streaming and Royalty Corp. ("Sprott") to facilitate funding of the gold
and silver stream agreement in advance of commercial production at its Monte do Carmo Project,
Cerrado has elected to pay interest due December 31, 2023, in shares.
Pursuant to the Note, the Company may elect to satisfy the payment of any accrued and unpaid
interest on the Note by the issuance of common shares of the Company (the "Common Shares") at
a price per Common Share equal to 95% of the volume weighted average price (the "VWAP") of the
Common Shares for the 5 trading days immediately prior to the date payment is due or any
combination of cash and Common Shares in the Company's sole discretion.
Interest due on the Note for the period ending December 31, 2023, amounts to US$504,109.58,
being C$666,735.33 at the bank of Canada rate of 1.3226 as of December 29, 2023. Subject to the
approval of the TSX Venture Exchange, the Company will issue 1,175,523 common shares to Sprott
at the price of $0.5672 per share to satisfy the interest payment.
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company focused
on gold projects in South America. The Company is the 100% owner of both the producing Minera
Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentin a, and the highly prospective
Monte Do Carmo development project, located in Tocantins State, Brazil. In Canada, Cerrado Gold
is developing it’s 100% owned Mont Sorcier Iron Ore and Vanadium project located outside of
Chibougamou, Quebec.
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through
continued operational optimization and is growing production through its operations at the Las
Calandrias Heap Leach project. An extensive campaign of exploration is ongoing to further unlock
potential resources in our highly prospective land package in the heart of the Deseado Masiff.
In Brazil, Cerrado is rapidly advancing the Serra Alta deposit at its Monte Do Carmo Project, through
feasibility and into production. Serra Alta is expected to be a high -margin and high -return project
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with significant exploration potential on an extensive and highly prospective 82,542 hectare land
package.
In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium Project, which
has the potential to produce a premium iron ore concentrate over a long mine life at low operating
costs and low capital intensity. Furthermore, its high grad e and high purity product facilitates the
migration of steel producers from blast furnaces to electric arc furnaces contributing to the
decarbonisation of the industry and the achievement of SDG goals.
For more information about Cerrado please visit our website at: www.cerradogold.com.
Mark Brennan Mike McAllister
CEO and Chairman Vice President, Investor Relations
Tel: +1-647-805-5662
Disclaimer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains statements that constitute “forward -looking information” (collectively, “forward -looking
statements”) within the meaning of the applicable Canadian securities legislation, all statements, other than statements
of historical fact , are forward -looking statements and are based on expectations, estimates and projections as at the
date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”
or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”,
“would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward -
looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the
business and operations of Cerrado. In making the forward- looking statements contained in this press release, Cerrado
has made certain assumptions, including, but not limited to the time required to reach production capacity at Las
Calandrias, the future operating costs in Argentina, as wel l the timing of the feasibility study at Monte Do Carmo.
Although Cerrado believes that the expectations re flected in forward-looking statements are reasonable, it can give no
assurance that the expectations of any forward -looking statements will prove to be correct. Known and unknown risks,
uncertainties, and other factors which may cause the actual results an d future events to differ materially from those
expressed or implied by such forward -looking statements. Such factors include, but are not limited to general business,
economic, competitive, political and social uncertainties. Accordingly, readers should n ot place undue reliance on the
forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims
any intention and assumes no obligation to update or revise any forward -looking statements to reflect ac tual results,
whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-
looking statements or otherwise.