Cerro de Pasco Resources Announces New Financing Initiative

Cerro de Pasco Resources Secures Funding for Growth
Cerro de Pasco Resources Inc. (TSXV: CDPR) is embarking on an exciting new financing initiative aimed at raising up to $15 million through a private placement. This strategic move, facilitated by SCP Resource Finance LP and Raymond James Ltd., seeks to advance the company's significant projects, including crucial environmental and engineering work.
Details of the Private Placement
The company plans to issue up to 31,250,000 units, each priced at $0.48. Each unit will comprise one common share and a purchase warrant, providing investors the right to acquire another share at $0.68. This offer is subject to standard approval processes and conditions.
Utilization of Funds
The proceeds from this placement are earmarked for enhancing technical and environmental projects, most notably the Quiulacocha Tailings Project. This initiative reflects the company's commitment to sustainable practices and resource management, underscoring its dedication to minimizing the environmental footprint of mining activities.
Immediate Availability of Securities
Investors in this offering will benefit from immediate marketability. The securities will be freely tradeable without any hold period, aligning with current Canadian securities regulations. This setup aims to attract a broader spectrum of investors looking for liquidity in their engagements.
Upcoming Milestones
Approvals for the financing are expected shortly, with closing anticipated around a specified date in early November. With an attractive fee structure for the agents involved, this placement is well-positioned for a successful outcome.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is focused on harnessing its 100% owned El Metalurgista mining concession. This asset contains silver-rich mineral tailings resulting from over a century of mining and extraction activities. The company aims to transform mining waste into valuable resources through innovative reprocessing and environmental remediation strategies.
Future Prospects and Company Vision
Looking ahead, Cerro de Pasco Resources is set on expanding its impact within the mining industry. The management team remains optimistic about utilizing funds generated through this private placement to foster sustainable practices that benefit the environment and community, all while delivering shareholder value.
Contact Information
For further inquiries, please reach out to Guy Goulet, CEO, via telephone at +1-579-476-7000, or email at ggoulet@pascoresources.com.
Frequently Asked Questions
What is the purpose of the private placement?
The private placement aims to raise funds to support the Quiulacocha Tailings Project and other environmental initiatives.
How many units will be issued?
Up to 31,250,000 units will be made available for the private placement.
What is the offering price for each unit?
Each unit will be offered at a price of $0.48.
Who are the agents involved in this offering?
SCP Resource Finance LP and Raymond James Ltd. are the lead agents managing the private placement.
What type of securities will be issued?
Each unit consists of one common share and a half warrant, allowing for the purchase of additional shares under specified conditions.
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