Cerrado Gold Inc. acquired Minera San Nicolas Operating Mine in Argentina from Compania Invesora Argentina Para La Exportacion SA, Newsan, Mirgor, BGH, Compania Invesora En Minas S.A and others for $45 million on March 16, 2020. Under the terms of the acquisition, Cerrado Gold will pay $15 million upon completion of the transaction, and will pay additional future payments of $10 million in 24 months, $10 million in 48 months and $10 million in 60 months from closing. Compania Invesora Argentina Para La Exportacion SA and Compania Invesora En Minas S.A are also entitled to a performance bonus based upon an increase in reserves in the future. Minera Don Nicolas will continue to operate under the same organizational structure as it has been under the Sellers, with Veronica Nohara as acting Managing Director. MPA Morrison Park Advisors Inc. acted as the financial advisor to Compania Invesora Argentina Para La Exportacion SA.

Cerrado Gold Inc. completed the acquisition of Minera San Nicolas Operating Mine in Argentina from Compania Invesora Argentina Para La Exportacion SA Newsan, Mirgor, BGH, Compania Invesora En Minas S.A and others for $47 millon March 16, 2020. As per the terms of the acquisition, Cerrado Gold paid $15 million upon completion of the transaction, and additional future payments of $10 million in 24 months, $2 million in 24 months, $10 million in 48 months and $10 million in 60 months from closing.