MONTREAL, April 23, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (Frankfurt: N8HP) ("CDPR," or the "Corporation") is providing the following update.
Easement Update
CDPR is the titleholder of the concession located in Peru called "El Metalurgista" (the "Concession"), which grants it the right to explore and exploit the Quiulacocha Tailings located within its assigned area. The Mining Bureau of the Ministry of Energy and Mines (the "MB") has confirmed the enforceability of these rights.
As the date hereof, CDPR has successfully completed the following steps of the legal easement procedure: (i) Legal and technical assessment made by the MB. (ii) Valuation report of the easement area issued by the Ministry of Housing. (iii) Favorable technical opinion issued by the Ministry of Agriculture. (iv) Favorable decision from the Mining Council on the continuance of the easement procedure. (v) Complementary technical opinion from the Ministry of Housing addressing some clarifications requested by the MB. (vi) Obtain from the MB the Directorial Resolution that approved the draft of the Supreme Resolution that grants the easement right and the draft of the easement agreement.
The above means that for the easement to be formally granted, it is pending that the Supreme Resolution be signed by the Ministers of Energy and Mines and of Agriculture, and by the President. Currently the General Counsel of the Ministry of Energy and Mines is reviewing the draft of the Supreme Resolution. This review is the last step before the signing of the Supreme Resolution by the abovementioned members of the cabinet and by the President.
Financing
Pending the signature of the easement, $2.5M investment is being held by Lavery, de Billy, L.L.P., acting as escrow agent ("Lavery").
Partial Debt Settlement Agreement
The Corporation further announces the issuance of 2,000,000 common shares of the Corporation (the "Settlement Shares") to Riverfort Global Opportunities PCC LTD ("Riverfort") at a deemed issue price of $0.10 per Settlement Share in partial repayment of an amount owed to Riverfort under an amended and restated investment agreement effective as of January 31, 2024 (the "A&R Investment Agreement") among Riverfort, the Corporation and Cerro de Pasco Resources Del Perú S.A.C. The issuance of the Settlement Shares will reduce the amount owed to Riverfort under the A&R Investment Agreement to CAD 1,523,440.86 (the "Loan").
Amendments of Warrants
The Corporation also announces amendments to the terms and conditions of 4,283,277 outstanding share purchase warrants (the "Warrants") that were issued pursuant to non-brokered private placements closed between April 8, 2021, and May 27, 2021. Each Warrant entitles the holder to purchase one Common Share at a price of $0.50 per Common Share for a period of two years. On January 18, 2023, the term of the Warrants was extended to May 27, 2024. None of the Warrants have been exercised to date. The Corporation further extended the expiry date of the Warrants to April 8, 2026 and reduced their exercise price from $0.50 to $0.40, with all other terms and conditions of the Warrants remaining the same.
Issuance of Shares and Grant of Options to Consultants
On April 1, 2024, the Corporation entered into a consultancy agreement for services relating to strategic business development activities. As part of the consideration to be paid to the consultant, 50,000 Common Shares will be issued on a quarterly basis commencing on July 1, 2024, for a period of one year, for a total of 200,000 Common Shares. In accordance with applicable securities laws, these Common Shares will be subject to a statutory hold period ending four months and one day from the date of their issuance.
The Corporation also announces the grant of an aggregate of 400,000 stock options (the "Options") allowing consultants to purchase Common Shares at a price of $0.15 per Common Share for periods of three or five years from April 10, 2024. These Options were granted to consultants in accordance with the terms of CDPR's Stock Option Plan. The Options will be vested in stages over a period of twelve months, with 1⁄4 of the Options vesting in any three-month period.
モントリオール、2024年4月23日(GLOBE NEWSWIRE)— セロ・デ・パスコ・リソース株式会社(CSE:CDPR)(OTCPK:GPPRF)(フランクフルト:N8HP)(「CDPR」または「当社」)は、以下の最新情報を提供しています。
地役権の更新
資金調達
地役権の署名を待つ間、エスクロー代理人(「レイブリー」)を務めるLavery、de Billy、L.L.P. が250万ドルの投資を行っています。
部分債務決済契約
当社はさらに、2024年1月31日に発効した株式会社リバーフォート間の修正および改訂された投資契約(「A&R投資契約」)に基づいてリバーフォートに支払うべき金額の一部を返済するために、リバーフォート・グローバル・オポチュニティーズPCC LTD(「リバーフォート」)に200万株の普通株式(「決済株式」)を、和解株式1株あたり0.10ドルのみなし発行価格で発行することを発表しましたとセロ・デ・パスコ・リソース・デル・ペルーS.A.C. 決済株式の発行により、A&Rに基づいてリバーフォートに支払うべき金額が減ります1,523,440.86カナダドルまでの投資契約(「ローン」)。
新株予約権の改正
当社はまた、2021年4月8日から2021年5月27日の間に終了した非仲介私募に従って発行された4,283,277の発行済み株式購入新株予約権(「新株予約権」)の条件の修正を発表しました。各ワラントにより、保有者は普通株式1株あたり0.50ドルの価格で2年間普通株式1株を購入することができます。2023年1月18日、ワラントの期間は2024年5月27日まで延長されました。これまでのところ、ワラントはどれも行使されていません。会社はさらに、ワラントの有効期限を2026年4月8日に延長し、行使価格を0.50ドルから0.40ドルに引き下げました。ワラントの他のすべての条件は同じです。
株式の発行とコンサルタントへのオプションの付与
2024年4月1日、当社は戦略的事業開発活動に関連するサービスのコンサルタント契約を締結しました。コンサルタントに支払われる対価の一部として、2024年7月1日から四半期ごとに50,000株の普通株式が1年間発行され、合計で20万株の普通株式が発行されます。適用される証券法に従い、これらの普通株式は発行日から4か月と1日で終了する法定保有期間の対象となります。
当社はまた、コンサルタントが2024年4月10日から3年または5年の間、普通株式1株あたり0.15ドルの価格で普通株式を購入できる、合計40万件のストックオプション(「オプション」)の付与を発表しました。これらのオプションは、CDPRのストックオプションプランの条件に従ってコンサルタントに付与されました。オプションは12か月にわたって段階的に権利が確定し、オプションの4分の1が任意の3か月で権利が確定します。