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Cerro de Pasco Resources Closes $2.5 Million Private Placement
Cerro de Pasco Resources Closes $2.5 Million Private Placement Canada NewsWire ...
About this update from Cerro De Pasco Resources, Inc.
[{"type":"text","content":"\n \n \n \n Cerro de Pasco Resources Closes $2.5 Million 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n April 4, 2023\n \n \n /CNW/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) (\"CDPR\" or the \"Corporation\") is pleased to announce the closing of its previously announced non-brokered private placement, for total aggregate gross proceeds of $2,519,500 (the \"Offering\"). CDPR issued 25,195,000 units of the Corporation (\"Units\") at a price of $0.10 per Unit, each consisting of one common share (a \"Common Share\") and one Share purchase warrant (a \"Warrant\").\n \n \n \n \n \n \n \n \n \n Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of\n \n $0.25\n \n per Common Share for a period of 24 months from the date of issuance of the Warrant.\n \n \n In the event that, during such 24-month period, the volume-weighted average trading price of the Common Shares exceeds\n \n $0.60\n \n 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\n \n 5:00 p.m.\n \n (\n \n Montreal\n \n time) on the 30\n \n th\n \n 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.\n \n \n The net proceeds from the Offering will be used for working capital.\n \n \n In connection with the Offering, the Corporation paid finder's fees in an amount of\n \n $97,450\n \n to certain arm's length third parties who as...