Cerro de Pasco extends closing date for Cerro acquisition

2020-06-30 10:28 ET – News Release

Mr. Guy Goulet reports

CERRO DE PASCO PROVIDES CORPORATE UPDATE

Cerro de Pasco Resources Inc. has provided the following update.

CDPR and Volcan Compania Minera S.A.A. have agreed to extend the closure date of CDPR’s acquisition of the Cerro de Pasco Mine (the “Transaction”), described below, until August 31, 2020. The Company’s management continues to advance towards a successful closing.

About the Transaction

On November 28, 2019, the Company announced the execution of a definitive share purchase agreement dated November 27, 2019 (the “Agreement”) with Volcan Compania Minera S.A.A. (BVL:VOLCABC1) and its subsidiaries (collectively, “Volcan”), whereby CDPR will acquire all of the issued shares of Oxidos de Pasco S.A.C. (“Oxidos”), Empresa Administradora de Cerro S.A.C (“Cerro SAC”) and Remediadora Ambiental S.A.C. (together the “Target Companies”). The arm’s length transaction (the “Transaction”) will provide CDPR ownership and operation of all mining and processing assets in Cerro de Pasco, Central Peru.

For further details about the Transaction please referred to the press release issued on November 28, 2019.

About Cerro de Pasco Resources

Cerro de Pasco Resources Inc. is a resource management company, with a focus on applying the latest technology in the production of commodity metals through the treatment and reprocessing of all material resources, dumps, tailings, mining waste etc. at Cerro de Pasco in order to secure long-term economic prosperity. CDPR strives to meet to the highest level of environmental, social and legal compliance. CDPR provides extensive knowledge of Cerro de Pasco’s challenges and potential, based on first-hand experience and a team of top experts.

We seek Safe Harbor.

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