Toronto-listed Cerrado Gold Inc. has secured C$10 million in financing through a non-brokered private placement agreement with investor Eric Sprott.
The gross proceeds were raised via the issuance of 4 million units at a price of C$2.50 per unit. Each unit comprises one common share and one-half of a common share purchase warrant. The full warrants, exercisable for 24 months from closing, allow holders to acquire one common share at C$3.35 per share.
The financing is expected to close on or about September 4, 2026, subject to customary conditions including approval from the TSX Venture Exchange. Proceeds will be allocated toward working capital and general corporate purposes, the company said.
Cerrado Gold operates producing mines in Argentina, including Minera Don Nicolás and Las Calandrias in Santa Cruz province, and holds an 80% stake in Portugal’s Lagoa Salgada VMS project. The company is also advancing the Mont Sorcier Iron project in Quebec, Canada.
The securities issued are subject to a statutory hold period of four months and one day from issuance under Canadian securities laws and TSX Venture Exchange policies. The financing is not registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.
Cerrado Gold CEO and Chairman Mark Brennan said the company welcomes Sprott as a strategic investor.
