Cerro de Pasco Resources Corporate and Transaction Update

About this update from Cerro De Pasco Resources, Inc.

[{"type":"text","content":"\n \n \n \n Cerro de Pasco Resources Corporate and Transaction Update\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n MONTRÉAL, Nov. 2, 2020\n \n \n \n \n CSE:CDPR\n \n \n MONTRÉAL,\n \n Nov. 2, 2020\n \n /CNW/ -\n \n Cerro de Pasco Resources\n \n Inc. (CSE: CDPR) (OTCMKTS: GPPRF) (\n \n Frankfurt\n \n : N8HP) (\"CDPR\" or the \"Company\") in reference to previous Company announcements whereby CDPR will acquire all of the issued shares of Oxidos de Pasco S.A.C., Empresa Administradora de Cerro S.A.C. and Remediadora Ambiental S.A.C. from Volcan Companía Minera SAA, the company is providing the following update.\n \n \n \n \n \n \n \n \n \n In the process of finalizing the details of the transaction, CDPR and Volcan were unable to reach agreement on certain issues that require further clarification.  Whilst the deadline for the transaction has expired, both companies are committed to continue evaluating a transaction that is satisfactory to both parties, accretive to CDPR's shareholders and beneficial to our local communities.\n \n \n In anticipation of completing the transaction, CDPR was able to arrange financing commitments and expressions of interest in excess of\n \n USD60M\n \n in a combination of equity and unsecured debt financing, as well as lines of credit to satisfy conditions precedent relating to demonstrating financial capability.  Management is confident this level of interest will remain given the strength of CDPR's value proposition.\n \n \n In line with our previous Company announcement of the upcoming Quiulacocha exploration program, CDPR continues to evaluate all alternatives that will deliver full value to its shareholders and the community of Cerro de Pasco, with whom we have been engaging proactively and successfully for the last three years.\n \n \n \n \n About Cerro de Pasco Resources\n \n \n \n \n Cerro de Pasco Resources Inc. is a resource management company, with a focu...

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