Cerrado Gold Provides Update on Cease Trade Order

Toronto-based Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) has issued an update regarding the cease trade order (CTO) imposed on May 7, 2024, by the Ontario Securities Commission (OSC). The CTO was enforced due to the company's failure to file its audited annual financial statements and related filings for the year ended December 31, 2023, by the April 29, 2024 deadline. Cerrado is working with its auditors, KPMG LLP, and anticipates completing the filings by June 6, 2024.

The company also projects delays in filing its interim financial statements for the three months ended March 31, 2024, due by May 30, 2024. An application for a management cease trade order (MCTO) was denied due to the existing CTO. The CTO will remain until the interim filings are submitted, which are expected approximately two weeks after the annual filings.

Cerrado confirmed it is not undergoing any insolvency proceedings, and no new material information has emerged regarding the company's operations.