Mr. Oscar Louzada reports
SRANAN MAKES APPLICATION FOR MANAGEMENT CEASE TRADE ORDER AS PART OF THE 2025 AUDIT FILING PROCESS
Sranan Gold Corp. anticipates a delay in the filing of its financial statements, as required pursuant to Part 4 of National Instrument 51-102 (Continuous Disclosure Obligations). The potential delay arises from a joint assessment by the company and its auditor regarding the time required to complete the remaining audit procedures and the related review process. The delay is primarily due to timing issues associated with the company's operations in Suriname, including delays in receiving and reviewing financial information, additional audit procedures required for the company's first audited financial statements following the acquisition of the Suriname subsidiary, translation of foreign language documents, approval of a change in fiscal year-end by Suriname tax authorities, and the determination of appropriate accounting treatment for a complex acquisition structure.
The company is currently awaiting clarification on certain tax items in Suriname required to finalize the tax provision note in the financial statements. The company remains in continuing communication with its auditor to confirm any remaining documentation requirements, and has committed to providing any outstanding materials promptly upon request. Based on discussions with the company's auditor, the company expects to be in a position to file its audited financial statements on or before Feb. 27, 2026.
As a precautionary measure, the company is pursuing a management cease trade order to provide additional time, if required. Both the company and its auditor remain fully committed, and are working diligently toward the completion and filing of the financial statements.
The instrument requires that the company's audited financial statements, management's discussion and analysis, and chief executive officer and chief financial officer certifications relating to the audited financial statements for the year ended Sept. 30, 2025, be filed by Jan. 28, 2026. The company expects that the audited financial statements, MD&A, and CEO and CFO certifications relating to the audited financial statements for the year ended Sept. 30, 2025, will be completed and filed on or before Feb. 27, 2026. The company expects to proceed with the filing of its interim first quarter financial statements on its due date.
In connection with the anticipated delays in making the required filings within the time periods mandated by the instrument, the company has made an application under National Policy 12-203 (Management Cease Trade Orders) to the Alberta Securities Commission, as principal regulator for the company, requesting that an MCTO be issued. If granted, the MCTO will restrict all trading by the company's CEO and CFO in securities of the company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the company to trade their securities. The MCTO will remain in effect until the required filings are filed or until it is revoked or varied.
The company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing biweekly default status reports in the form of a news release until it meets the required filings requirement. The company has not taken any steps toward any insolvency proceeding, and the company has no material information relating to its affairs that has not been generally disclosed.
About Sranan Gold Corp.
Sranan Gold is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname and Canada. The company's flagship Tapanahony project covers 29,000 hectares in one of Suriname's most prolific artisanal gold mining districts.
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