Cerro Mining Corp. (TSXV:CRX.H) announced a private placement to issue 6,250,000 units at issue price of CAD 0.08 per unit for gross proceed of CAD 500,000 on February 26, 2020. Each unit consists of one common share and one common shares purchase warrant. Each warrant can be exercised to purchase an additional common share at an exercise price of CAD 0.12 per share for a period of one year from the date of issue. All the securities issued in the transaction is subject to a lock up period of four months from the closing of the transaction. The transaction is subject to approval from NEX board of the TSX Venture Exchange. The company will not pay finders fees in relation to the transaction.