Cerro de Pasco Resources announces convertible debenture financing

June 18, 2021

On June 18, 2021, Cerro de Pasco Resources Inc. (CSE:CDPR) (the “Company”) announced that it has entered into an amended and restated agreement with an international investor (the “Investor”) to increase the capital amount under a convertible loan financing to $1,500,000 (the “Loan”). The Loan is repayable in one year with interest at 10% per year. The Loan will be used for general working capital purposes in advancing the Company’s Quiulacocha tailings retreatment Project in Peru involving silver, gold, copper, zinc and lead sulphide ores. The Loan is convertible, at the option of the lender, into common shares of the Company at $0.50 per share. An aggregate of 1,857,143 common share purchase warrants (the “Warrants”) were also issued to the lender. Each Warrant entitles the holder to acquire an additional common share at a price of $0.50 until June 15, 2023.

Miller Thomson LLP provided advice to the Investor with a team that included Geoff Clarke (Securities and Mining) and Richard Leblanc (Financial Services).