Cerrado GOLD Povides Update ON Cease Trade Order
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May 30, 2024 www.cerradogold.com
CERRADO GOLD POVIDES UPDATE ON CEASE TRADE ORDER
TORONTO, ONTARIO – Cerrado Gold Inc. [TSX.V: CERT][OTCQX: CRDOF] (“Cerrado” or the
“Company”) is providing this update on the status of the cease trade order (the “CTO”) imposed on
May 7, 2024 by its principal regulator, the Ontario Securities Commission (the “ OSC”), under
National Policy 11-207, following the Company’s failure to file its audited annual financial
statements and accompanying management's discussion and analysis for the year ended December
31, 2023 and related filings (collectively, the "Annual Filings"). Under National Instrument 51-102,
the Annual Filings were required to be filed by April 29, 2024.
Company management continues to work diligently with its auditors, KPMG LLP, to complete the
Annual Filings. The Company currently expects the Annual Filings to be completed and filed on or
about June 6, 2024.
As a result of the delay in filing the Annual Filings, the Company expects that it will be unable to file
its interim financial statements and accompanying management's discussion and analysis for the
three months ended March 31, 2024, and related filings (collectively, the "Interim Filings") by the
May 30, 2024 filing deadline.
The Corporation applied to the OSC for a management cease trade order (an “MCTO”) in respect of
the delay in filing of the Interim Filings, but was refused on the basis that it already had a CTO
outstanding. The Company has been advised that the CTO shall continue until the Interim Filings
have been filed.
The Company expects that it will take approximately two weeks to complete the Interim Filings
following the date of filing of the Annual Filings.
The Company is not subject to any insolvency proceedings . There is no material information
concerning the affairs of the Company that has not been generally disclosed.
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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, Argentina, 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 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 grade 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
CEO and Chairman
Mike McAllister
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.
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Forward-looking statements contained in this press release include, without limitation, statements
regarding the business and operations of Cerrado and the completion and filing of the Annual Filings,
the Interim Filings and the CTO. In making the forward- looking statements contained in this press
release, Cerrado has made certain assumpGons. Although Cerrado believes that the expectations
reflected 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 and 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 not 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
actual results, whether as a result of new information, future events, changes in assumptions,
changes in factors affecting such forward-looking statements or otherwise.