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Cerrado Gold Announces Conclusion of Gold Hedging Program at Its Minera Don Nicolas Mine in Argentina and a Proposed Normal Course Issuer Bid for Its Shares
Gold hedge completed effective January 15, 2026 Company now selling 100% of production at ne...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Announces Conclusion of Gold Hedging Program at Its Minera Don Nicolas Mine in Argentina and a Proposed Normal Course Issuer Bid for Its Shares\nGold hedge completed effective January 15, 2026Company now selling 100% of production at near spot gold pricesProposed Normal Course Issuer Bid TORONTO, Jan. 19, 2026 (GLOBE NEWSWIRE) -- Cerrado Gold Inc. [TSX.V:CERT][OTCQX:CRDOF; FRA:BAI0] (\"Cerrado\" or the \"Company\") announces that it has concluded its gold hedging program that contained a ceiling of $3,250/oz on a portion of its gold sales (see news release dated May 29, 2025), delivering the final ounces required under the contract in a January 15, 2026 shipment from its Minera Don Nicolas operations in Santa Cruz Argentina. Going forward, the Company will sell gold at near-spot prices, less adjustments for applicable gold streaming agreements. The Company is also pleased to announce a proposed normal course issuer bid (\"NCIB\") to purchase issued and outstanding common shares for cancellation. In the opinion of management and the board of directors of the Company (the \"Board\"), the Company's common shares continue to trade in a price range that represents a substantial discount to the underlying value of the Company's assets. \"Using Cerrado's excess liquidity in light of strong gold prices, to buy back common shares at their current trading prices, would be highly accretive to our net asset value per share,\" stated Mark Brennan, Chairman & Chief Executive Officer of the Company. \"Accordingly, the proposed purchase for cancellation of shares by Cerrado will benefit shareholders by increasing their proportionate ownership in the Company.\" Cerrado has submitted a notice of intention to undertake the NCIB to the TSX Venture Exchange (\"TSXV\") in connection with the purchase by the Company of up to 6,794,790 of its common shares, representing approximately 5% of the Company's 135,895,819 issued and outstanding common shares as of January 16, 2026. The NCIB will be made on the open market through the facilities of the TSXV and alternative trading systems in accordance with applicable rules, regulations, and policies. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by the Company. Decisions regarding purchases will be based on market conditions, s...