Cerrado Gold closes C$10M private placement with Eric Sprott

TORONTO - Cerrado Gold Inc. (TSX.V:CERT) (OTCQX:CRDOF) recently closed a C$10 million private placement with Eric Sprott, as reported in a press release. Sprott, through an entity he controls, purchased 4 million units at a price of C$2.50 each. Each unit includes one common share and a purchase warrant for one additional share, which can be exercised within 24 months at C$3.35 per share.

The private placement must still receive final approval from the TSX Venture Exchange. All shares issued are subject to a four-month-and-one-day statutory hold period following issuance under Canadian securities laws and TSXV policies. The company plans to utilize the net proceeds for working capital and general corporate purposes.

Cerrado Gold is a Toronto-based company involved in gold production, development, and exploration. The firm owns the Minera Don Nicolás and Las Calandrias mines in Argentina, holds an 80% stake in the Lagoa Salgada VMS project in Portugal, and is developing the Mont Sorcier Iron project in Quebec, Canada. The company clarified an error in their investor services agreement, which was previously listed as ENGAGE 360, but should have been stated as Investor Events Inc. The terms of the agreement, with the exception of the corrected partner, remain unchanged and await TSXV approval.