Business
Cerro de Pasco Resources Announces C$2 Million Private Placement Offering of Common Share Units
MONTRÉAL, March 21, 2023 /CNW/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) ("CDPR" or the "Corporation") is pleased to announce its i
About this update from Cerro De Pasco Resources, Inc.
[{"type":"text","content":" MONTRÉAL, March 21, 2023 /CNW/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) (\"CDPR\" or the \"Corporation\") is pleased to announce its intention to complete a non-brokered private placement offering (the \"Offering\") of up to 20,000,000 units of the Corporation (the \"Units\") at a price of $0.10 per Unit for aggregate gross proceeds of up to $2,000,000. Each Unit will be comprised of one common share in the capital of the Corporation (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.25 per share for a period of 24 months from the closing date of the Offering (the \"Closing Date\"). In the event that, during the period following 24 months from the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.60 per Common Share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an \"Acceleration Notice\") thereof and issuing a press release (a \"Warrant Acceleration Press Release\", and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30th day following the later of (i) the date on which the Acceleration Notice is sent to Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release. A finder's fee might be paid on the Offering, subject to the policies of the Canadian Securities Exchange (\"CSE\"). The net proceeds from the Offering will be used for working capital. All securities issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an...