Cerro de Pasco Resources Announces Amendment to LIFE Offering Document
Executive Summary
- Cerro de Pasco Resources filed an amended and restated offering document to conduct a brokered “Life” private placement of 31,250,000 units at $0.48 per unit, targeting gross proceeds of $15 million.
- A concurrent non‑brokered private placement will offer up to 14,583,333 units for an additional up to $7 million, bringing total potential proceeds to $22 million.
- Net proceeds are earmarked to fund technical, environmental and engineering work for the feasibility stage of the Quiulacocha Tailings Project and general corporate purposes.
Key Details
- Offering Structure:
- Each Unit = 1 common share + ½ warrant (each whole warrant allows purchase of one additional common share at $0.68).
-
Warrants exercisable for 24 months post‑closing, with a restriction on exercise expiring 61 days after the Closing Date.
-
Pricing & Proceeds:
- Offering Price: $0.48 per Unit.
- Life Offering gross proceeds: $15,000,000 (31,250,000 Units).
-
Concurrent Private Placement gross proceeds: up to $7,000,000 (14,583,333 Units).
-
Closing Timeline:
-
Expected concurrent closing of both the Life Offering and the Concurrent Private Placement on November 6, 2025, subject to customary conditions and approvals.
-
Agent Compensation:
- Cash fee to agents equal to 6.0% of gross proceeds from the Life Offering.
-
Broker warrants issued to agents equal to 6.0% of Units sold in the Life Offering; each broker warrant convertible into one Unit at the issue price for a period of 2 years from the Closing Date.
-
Use of Proceeds:
- Advance technical, environmental and engineering work required for the feasibility stage of the Quiulacocha Tailings Project.
-
General corporate purposes.
-
Trading & Hold Periods:
- Units issued in the Life Offering will be immediately freely tradeable with no hold period under Canadian securities law.
-
Securities from the Concurrent Private Placement will be subject to a statutory hold period as required by applicable securities laws.
-
Regulatory Notes:
- Offerings rely on exemptions under NI 45‑106 (Part 5A) and Coordinated Blanket Order 45‑935.
- The release includes standard forward‑looking statements and U.S. securities law disclaimer.
Notable Quotes
- “The net proceeds from this Offering will enable us to move the Quiulacocha Tailings Project toward feasibility, advancing both our technical work and environmental stewardship,” – Guy Goulet, CEO.