On January 22, 2024, Cerro de Pasco Resources Inc. closed the transaction. The company closed the final and oversubscribed tranche of its non-brokered private placement of up to 2,280,000 units at a price of CAD 0.10 per unit for the gross proceeds of CAD 228,000. Each Unit will be comprised of one common share and half of one Common Share purchase warrant.

Each whole Warrant will entitle the holder thereof to purchase one additional unit at a price of CAD 0.15 per Warrant Unit until the earlier of the date which is 24 months after the closing date of the transaction. Under the two tranches of the financing, the Company raised 20,000,000 units at an issue price of CAD 0.10 for aggregate gross proceeds of CAD 2,000,000. In connection with the completion of the final tranche of the financing, the Company paid finder?s fees of CAD 12,090 and issued 120,900 Warrants to arm?s length third parties as finder?s fees.

to certain parties who assisted the Company by introducing subscribers to the placement. The securities issued in the last tranche of the Private Placement are subject to a four-month-and-one-day statutory hold period expiring on May 18, 2024.