Cerrado Gold Announces Share Repurchase Program

Cerrado Gold Inc., a company listed on the TSX Venture Exchange, revealed plans to implement a normal course issuer bid (NCIB). This will enable the repurchase of up to 5% of its issued and outstanding common shares. The decision follows the Board's belief that the current market price doesn't reflect the intrinsic value of its assets and prospects. The NCIB starts on November 15, 2024, and will end by November 14, 2025, or sooner if the target is met.

The company has collaborated with Eight Capital as a broker to manage this process under TSXV rules. Repurchased shares will be cancelled. Cerrado’s leadership asserts that this move aims to enhance shareholder value. Notably, none of the company's directors or insiders plan to sell shares under this scheme. The announcement marks Cerrado's first approval of an NCIB, highlighting a strategic effort to boost investor confidence.