CSE: CDPR
- Agrees to a 60 days Extension to the Cerro de Pasco Mine Acquisition Agreement
Mandates Sprott Capital Partners LP as Financial Advisor- Adds
$1M to Recent Financing - Grants Stock Options to Directors, Officers, Employees and Consultants
60-day Extension of the Cerro de Pasco Acquisition Agreement
CDPR has agreed to extend the acquisition agreement of the
About the Transaction
On
For further details about the Transaction please referred to the press release issued on
Cerro de Pasco has retained
Private Placement
Further to the news release of
Under the different tranches of the Offering, the Company raised aggregate gross proceeds of $3,000,000 (please refer to the press releases issued on
Each Unit consists of one common share of the Company ("Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Share at a price of
In connection with the current tranche of the Offering, the Company issued 250,000 finder warrants to arm's length third parties, each entitling its holder to purchase one Share at a price of
The Company will use the net proceeds of the Offering for working capital purposes and towards advancing exploration drilling at its historical Quiulacocha polymetallic tailings storage facility which is an immediately adjacent property to the
Any securities issued pursuant to the Offering will be subject to a hold period under applicable securities laws which will expire four months and one day from the date of their issuance.
Grant of Stock Options
Cerro de Pasco also announces that it has granted incentive stock options to directors, officers, employees, and consultants of Cerro de Pasco to acquire an aggregate of 4.5 million common shares at
About
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" 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 cause 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 and economic factors and uncertainties and other factors, such as Covid-19, 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. 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 statement, whether as a result of new information, future events or otherwise.
SOURCE
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