Mr. James Tworek reports
ELEMENT79 PROVIDES MCTO STATUS UPDATE AND FILING OF ITS ANNUAL FINANCIAL STATEMENTS
Element79 Gold Corp. has provided an update with respect to the previously announced management cease trade order (MCTO) issued by the British Columbia Securities Commission on
Jan. 4, 2023. The company is providing notice
in accordance with National Policy 12-203 -- Management Cease Trade Orders.
The MCTO was issued by the BCSC on Jan. 4, 2023. It prevents the company's president and chief financial officer from trading in the company's securities but does not affect the ability of other shareholders, including the public, to trade in the securities of the company.
The company confirms that as of today it has completed and filed its
audited annual financial statements for the year ended Aug. 31, 2022, and the management's discussion and analysis and related CEO and CFO certificates for the period which were required to be filed on or before Dec. 29, 2022.
The company further acknowledges that the interim financial statements for the
interim period
ended
Nov.
30, 2022, and the management's discussion and analysis and related CEO and CFO certificates due to have been filed on Jan. 30, 2023, are to be filed prior to the MCTO revocation process.
The MCTO remains in effect until the company files the required documents and the BCSC's executive director has revoked the MCTO. The company confirms that since the date of the default announcement, other than as described above: (a) there has been no material change to the information set out in the default announcement that has not been generally disclosed; (b) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcement; and (d) there is no other material information concerning the affairs of the company that has not been generally disclosed.
The company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains delayed.
We seek Safe Harbor.
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