Cerro Mining Corp. announced a private placement of minimum of 18,200,000 subscription receipts and a maximum of 22,000,000 subscription receipts at a price of CAD 0.50 per subscription receipt to raise minimum gross proceeds of a minimum of CAD 9,100,000 and a maximum of CAD 11,000,000 on May 11, 2021. each Subscription Receipt will be automatically exchanged for one common Shares of the company. The transaction is subject to shareholder, regulatory approvals and TSX Venture Exchange. The company will pay finder's fees equal to 6% of the gross proceeds raised in connection with the transaction to Haywood Securities Inc., Canaccord Genuity Corp., Industrial Alliance Securities Inc., PI Financial Corp. and Leede Jones Gable Inc. Closing of the transaction may occur in tranches in the sole discretion of the Company.