Mr. Karim Rayani reports
FALCON GOLD CORP. ANNOUNCES DELAY OF FILINGS
Falcon Gold Corp. anticipates a brief delay in filing its financial
statements for the period ended June 30, 2023, and the related management's discussion and
analysis, and CEO (chief executive officer) and CFO (chief financial officer) certifications, which were
required to be filed on or before Oct. 30, 2023. This is due to an unexpected internal
administrative delay in providing the auditor with certain requested, non-contentious financial
information regarding the company's Central Canada gold and polymetallic project. Specifically, the auditor has requested the company provide certain records regarding
the acquisition of certain mineral claims within the project and associated exploration expenses
for the period from 2018 to 2023 in order to accurately determine its carrying value. Because the
company moved offices during this period, and the mineral claim numbering system was also
updated during this period, it has proven more time-consuming than expected to locate the
documents requested by the auditor.
The company is working diligently to rectify this as soon as possible, but acknowledges that there
will be a brief delay in making the required filings. Accordingly, the company has applied to the
British Columbia Securities Commission (BCSC), the company's principal securities regulator
in Canada, for the issuance of a management cease trade order (MCTO) under the provisions
of National Policy 12-203 -- Management Cease Trade Orders in connection with
the late filing of the required filings, so as to permit the continued trading in the company's
common shares by persons other than the company's chief executive officer, chief financial
officer and such other directors, officers and persons as determined by the applicable regulatory
authorities. The BCSC has granted the MCTO as of Oct. 31, 2023, and the company expects
to file the annual filings on or before Nov. 30, 2023.
The company confirms that it intends to satisfy the provisions of the alternative information
guidelines described in 10 of NP 12-203 and issue biweekly default status reports for so long as
it remains in default of the requirement to file the required filings. The company has not taken
any steps toward any insolvency proceeding and the company has no material information to
release to the public. The company has made the foregoing representations in accordance with
the requirements of applicable securities laws.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.