Cerro de Pasco Resources Announces Private Placements of up to $15 Million
Summary
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESMONTR\xc9AL, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCQB: GPPRF) (FRA: N8HP) (BVL:CDPR) (CDPR or the Corporation) is pleased to announce a commercially reasonable efforts private placement pursuant to an agreement with SCP Resource Finance LP (SCP), together with Raymond James Ltd. (RJ), as co-lead agents and joint bookrunners (the Co-Lead Agents), on behalf of themselves and a syndicate of agents (hereinafter referred to collectively as the Agents), of up to to 31,250,000 units of the Corporation (each, a Unit) at a price of $0.48 per Unit (the Offering Price) for gross proceeds of up to $15,000,000 (the LIFE Offering) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions (NI 45-106), as modified by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the Listed Issuer Financing Exemption).Each Unit will consist of (i) one common share in the capital of the Corporation (a Common Share) and (ii) one half of one Common Share purchase warrant (each whole warrant, a Warrant). Each Warrant will entitle its holder to acquire one additional Common Share (a Warrant Share) at a price of $0.68, for a period of 24 months following the Closing Date (as defined herein), subject to a restriction on exercise expiring 61 days from the Closing Date.The Agents will act as agent on a commercially reasonable agency basis in connection with the Offering.The Corporation intends to use the net proceeds from the Offering to advance technical, environmental and engineering work required for the feasibility stage of the Quiulacocha Tailings Project, in addition to general corporate purposes.The securities issuable from the sale of Units pursuant to the Listed Issuer Financing Exemption are expected to be immediately freely tradeable and will not be subject to a hold period under applicable Canadian securities laws.There is an offering document related to the LIFE Offering that can be accessed under the Corporations profile at www.sedarplus.ca and on the Corporation website at https://www.pascoresources.com/. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.Cerro de Pasco Resources Inc. is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit mine in Central Peru. The companys approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. Except where required by applicable law, CDPR disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.