LONGUEUIL, QUEBEC--(Marketwire - Aug. 14, 2012) - Cerro Resources (ASX:CJO)(TSX VENTURE:CJO) - Following receipt of final approvals from the TSX Venture Exchange, the Company has issued 33,135,517 fully paid ordinary shares in accordance with the terms and conditions of the share purchase plan (Plan), as initially announced on July 9, 2012.
The Company raised a total of A$2,319,500 through the Plan.
An Appendix 3B (New Issue Announcement, application for quotation of additional securities and agreement) can be found by accessing this release on the Company's website.
Canadian Regulatory Statement
All shares issued under the Plan will be subject to a regulatory four month hold period in Canada, under Canadian securities laws, expiring on December 15, 2012 and cannot be traded on the TSX Venture Exchange or be resold in Canada during this period, unless an exemption is available from the applicable prospectus requirements in Canada. Shares issued in Australia will be tradeable on the ASX but will not be convertible to shares tradeable in Canada during this hold period. The Company will implement appropriate controls with its share registries to ensure Canadian regulatory requirements are met.
About Cerro Resources
Cerro Resources is a precious and base metals exploration and development company. The Company is currently focused on Mexico where it is developing the Cerro del Gallo gold/silver project in the central state of Guanajuato, Mexico, actively exploring the Namiquipa silver project in northern Mexico, and commencing exploration on the Espiritu Santo gold/silver project in Jalisco. It also maintains an active focus on the Mt Isa, Queensland, region where it holds 100% of the Mt Philp haematite project as well as a continued interest in the Kalman molybdenum, rhenium, and copper project.
Additional information about the Company and its projects is available on the Company's website at www.cerroresources.com and on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.