Cerrado Gold Receives Final US$7 Million Advance and Appoints New Auditor

Cerrado Gold Inc. announced the receipt of the final US$7 million advance under the Signing Loan from Hochschild subsidiary, Amarillo Mineração do Brasil Ltda., bringing the total funds to US$15 million. The agreement stipulates this loan will be considered repaid upon shareholder approval of the Proposed Transaction with Amarillo. Should approval not be secured by June 30, 2024, the loan will mature on September 30, 2024, with potential acceleration starting July 1, 2024.

Additionally, Cerrado Gold has appointed McGovern Hurley LLP as its new auditor. This change will be proposed to shareholders at the annual meeting on June 27, 2024. The decision follows mutual discussions between Cerrado and KPMG LLP, who has opted not to stand for re-appointment.