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Cerro de Pasco Resources Closes $1.2M First Tranche of Non-Brokered Private Placement
Cerro de Pasco Resources Closes $1.2M First Tranche of Non-Brokered Private Placement ...
About this update from Cerro De Pasco Resources, Inc.
[{"type":"text","content":"\n \n \n \n Cerro de Pasco Resources Closes $1.2M First Tranche of Non-Brokered Private Placement\n \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 \n Canada NewsWire\n \n \n \n \n MONTRÉAL,\n \n April 8, 2021\n \n /CNW Telbec/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) (\"CDPR\" or the \"Company\") is pleased to announce that it has closed an initial tranche of its previously announced non-brokered private placement offering (the \"\n \n Offering\n \n \").  In connection with the closing of the initial tranche, the Company issued 3,395,000 units (each, a \"\n \n Unit\n \n \") at a price of\n \n $0.35\n \n per Unit for gross proceeds of\n \n $1,188,250\n \n .\n \n \n \n \n \n \n \n \n \n Each Unit consist of one common share of the Company (each, a \"\n \n Share\n \n \") and one-half of one common share purchase warrant (each full warrant, a \"\n \n Warrant\n \n \").  Each Warrant entitles the holder to purchase an additional common share at a price of\n \n $0.50\n \n for a period of 24 months from the date of issuance, provided however that the Company shall be entitled to accelerate the expiry of the Warrants to the date that is 30 days following the date a notice is provided to the holder in the event that the volume weighted average price of the Shares on the Canadian Securities Exchange exceeds\n \n $1.00\n \n per Share for any twenty (20) consecutive trading days at any time prior to the expiry of the Warrant.\n \n \n The Company anticipates closing a subsequent tranche of the Offering on or before\n \n April 16, 2021\n \n .\n \n \n The net proceeds of the Offering will be used for general working capital purposes in advancing the Company's Quiulacocha tailings retreatment Project in\n \n Peru\n \n . In connection with the completion of the initial tranche of the Offering, the Company paid finder's fees of\n \n $80,728\n \n (6.7%) to certain parties who assisted the Company by introducing subscribers to the placement.  The Company may pay additional finder's fee on subsequent tranches of the placement.\n \n \n ...