Business
Cerro de Pasco Resources Extends Date for Landmark Acquisition of the Cerro de Pasco Mine
Cerro de Pasco Resources Extends Date for Landmark Acquisition of the Cerro de Pasco Mine ...
About this update from Cerro De Pasco Resources, Inc.
[{"type":"text","content":"\n\n\n\nCerro de Pasco Resources Extends Date for Landmark Acquisition of the Cerro de Pasco Mine\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\nCanada NewsWire\nMONTRÉAL, Sept. 1, 2020\n\n\n\nCSE: CDPR\nAgrees to a 60 days Extension to the Cerro de Pasco Mine Acquisition Agreement Mandates Sprott Capital Partners LP as Financial Advisor Adds $1M to Recent Financing Grants Stock Options to Directors, Officers, Employees and Consultants MONTRÉAL, Sept. 1, 2020 /CNW Telbec/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCMKTS: GPPRF) (Frankfurt : N8HP) (\"CDPR\" or the \"Company\") is providing the following update.\n\n \n \n \n \n \n \n\n \n60-day Extension of the Cerro de Pasco Acquisition Agreement\nCDPR has agreed to extend the acquisition agreement of the Cerro de Pasco Mine, described below, with Volcan Compañia Minera S.A.A. (BVL: VOLCABC1) and its subsidiaries (collectively, \"Volcan\") until October 30, 2020. The Company's management continues to advance towards a successful closing and has extended the agreement date to enable the amendment of certain key terms to the benefit of both parties in the Transaction. The closing of the Transaction is expected to occur on or before October 30, 2020 subject to standard closing conditions and procedures being met.\nAbout the Transaction\nOn November 28, 2019, the Company announced the execution of a definitive share purchase agreement dated November 27, 2019 (the \"Agreement\") with Volcan, 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.. 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, including a precious metal leach plant and a base and precious metals concentrator, together having a permitted capacity of almost twenty thousand tonnes per day.\nFor further details about the Transaction please referred to the press release issued on November 28, 2019.\nSprott Capital Partners L...