MONTREAL, Nov. 8, 2021 /CNW Telbec/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (Frankfurt: N8HP) ("CDPR" or the "Company") announces a correction to its press release titled "Cerro de Pasco Resource to Acquire Trevali's Santander Mine" (the "Initial Press Release") disseminated on November 8, 2021 at 7:01 a.m. (Eastern Standard Time).
The Initial Press Release incorrectly described conditions subject to which 10 million shares of CDPR will be issued as consideration under the share purchase agreement (the "Agreement") entered into with Trevali Mining Corporation ("Trevali") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI).
The Initial Press Release should have mentioned that under the terms of the Agreement, the Company will issue 10 million shares of CDPR to Trevali, which will be release from escrow and freely tradable according to the following schedule: (i) 10% at closing of the transaction, and (ii) 15% every six months thereafter.
This correction does not change any other information reported in the Initial Press Release.
About Cerro de Pasco Resources Inc.
Cerro de Pasco Resources Inc. is a resource management company attuned to the most demanding environmental, social and legal compliance required by global institutions and investors. The key strategic strength of the Corporation is an unparalleled knowledge of the challenges and opportunities presented by the mineral endowment within the city of Cerro de Pasco combined with a highly experienced and practical team of both Peruvian and international management. The key focus of the Corporation will be on developing the El Metalurgista mining concession using advanced geo-resource and industrial development solutions in order to secure long-term economic operational sustainability in harmony with a healthy and prosperous local population.
SOURCE Cerro de Pasco Resources Inc.
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