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Cerro de Pasco Provides Acquisition, Financing & Corporate Update
Cerro de Pasco Provides Acquisition, Financing & Corporate Update Cerro de Pas...
About this update from Cerro De Pasco Resources, Inc.
[{"type":"text","content":"\n\n\n\nCerro de Pasco Provides Acquisition, Financing & Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCerro de Pasco Provides Acquisition, Financing & Corporate Update\nCanada NewsWire\nMONTRÉAL, March 9, 2020\n\n\n\nMONTRÉAL, March 9, 2020 /CNW/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCMKTS: GPPRF) (Frankfurt: N8HP) (\"CDPR\" or the \"Company\") is pleased to provide investors with the following update.\n\n \n \n \n \n \n \n\n \nOn November 28, 2019, the Company announced the execution of a definitive share purchase agreement dated November 27, 2019 (the \"Agreement\") with Volcan Compañia Minera S.A.A. (BVL:VOLCABC1) and its subsidiaries (collectively, \"Volcan\"), whereby CDPR will acquire all of the issued shares of Oxidos de Pasco S.A.C. (\"Oxidos\"), Empresa Administradora de Cerro S.A.C (\"Cerro SAC\") and Remediadora Ambiental S.A.C. (together the \"Target Companies\"). The arm's length transaction (the \"Transaction\") will provide CDPR ownership and operation of all mining and processing assets in Cerro de Pasco, Central Peru.\nThe closing of the Transaction is expected to occur during Q2 2020.\nFor further details about the Transaction please referred to the press release issued on November 28, 2019.\nWith respect to the financing of the acquisition, the Company is in discussions with various interested parties with a focus on non-dilutive options and will provide a further update shortly. \nPrivate placement for short-term working capital\nThe Company also announces that it has closed a non-brokered private placement for total gross proceeds of $937,400 (the \"Offering\") through the issuance of 2,343,500 units of the Company (\"Units\") at a price of $0.40 per Unit.  Each Unit is comprised of one common share of the Company (a \"Share\") and one Share purchase warrant (each whole, a \"Warrant\"). Each Warrant will entitle its holder to purchase one additional Share at a price of $0.65 per Share for a period of 24 months from the date of its issuance, provided however that the Company shall be entitl...