Cerro de Pasco Resources Inc. announced a non-brokered private placement 2,850,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 285,000 on April 2, 2024. Each unit is comprised of one share and half of one warrant. Each whole warrant entitles the holder thereof to purchase one warrant unit at a price of CAD 0.15 per warrant unit until the earlier of March 28, 2026, and, if applicable, the accelerated expiry date.

Each warrant unit will consist of one additional share and one underlying warrants. Each underlying warrant will entitle the holder thereof to acquire one underlying warrant share at a price of CAD 0.25 per underlying warrant share until March 28, 2026, subject to acceleration of the expiry date as mentioned above. The company paid finder?s fees of CAD 17,500 and issued 175,000 warrants to arm?s length third parties who assisted the corporation by introducing subscribers to the unit offering.

All securities issued in connection with the unit offering are subject to a statutory hold period in accordance with applicable securities laws, expiring four-month-and-one-day from the issue date of the units.