A show of confidence
Prominent Canadian commodities investor Eric Sprott has invested a further C$3 million at a price of C$0.15 per unit in Cerro de Pasco Resources (CSE CDPR / WKN A2N7XK). Sprott had already invested CAD 2 million in a CAD 0.10 placement at the beginning of August. Both investments were made through an investment vehicle of Sprott, 2176423 Ontario Ltd. Prior to the offering, Sprott held 42,387,500 common shares and 20, 000,000 warrants, representing approximately 9.9% of the outstanding Common Shares on a non-diluted basis and 13.9% on a partially diluted basis assuming the exercise of such warrants.
As a result of the recent investment, Sprott now owns or controls 62,387,500 common shares and 30,000,000 warrants, representing approximately 13.9% of the outstanding common shares on a non-diluted basis and 19.3% on a partially diluted basis assuming exercise of such warrants.
Guy Goulet, Chief Executive Officer of Cerro, commented: ‘We are pleased to have Eric Sprott increase his investment in Cerro de Pasco Resources. His continued support reflects confidence in our mission and progress. This private placement strengthens our capital structure and allows us to focus on executing our strategic objectives and creating value for our shareholders.’
The net proceeds from the offering will be used for drilling, sampling, metallurgy and general working capital. Cerro de Pasco Resources is focused on developing the El Metalurgista mining concession, which consists of silver-rich mineral tailings and dumps that have been mined from the open-pit Cerro de Pasco mine in central Peru for over a century. The Company’s approach at El Metalurgista involves the reprocessing and environmental remediation of mining waste, as well as the creation of multiple opportunities in a circular economy. The facility is one of the largest above-ground resources in the world.
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In accordance with §34b WpHG and § 48f Abs. 5 BörseG (Austria), we would like to point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Cerro de Pasco Resources and thus a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, a contractual relationship exists between Cerro de Pasco Resources and GOLDINVEST Consulting GmbH, which includes GOLDINVEST Consulting GmbH reporting on Cerro de Pasco Resources. This is another clear conflict of interest.
