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Till Capital Corp
Symbol	TIL
Shares Issued	3,191,462
Close 2023-06-05	C$ 4.32
Market Cap	C$ 13,787,116
Recent Sedar+ Documents

Till Capital suspended by BCSC, OSC

2023-06-06 15:22 ET - News Release

Nemri Subject: FW: TILL CAPITAL QUARTERLY FINANCIAL FILING DELAYED, CEASE TRADE ORDER ISSUED Word Document File: '\\swfile\EmailIn\20230606 120104 Attachment 2023.06.06 TIL NR 23-06 Till Capital Corp reports delayed filing_final.docx' NATDOCS\55552847\V-3 3 NATDOCS\55552847\V-3 NEWS RELEASE TSXV: TIL June 6, 2023 NR 23-06 TILL CAPITAL QUARTERLY FINANCIAL FILING DELAYED, CEASE TRADE ORDER ISSUED British Columbia, Canada, June 6, 2023: Till Capital Corporation (TSXV: TIL) ("Till") announces that a cease trade order has been issued in respect of trading in Till's securities by the British Columbia and Ontario Securities Commissions as Till did not file its interim financial statements and related management discussion and analysis and certifications for the three months ended March 31, 2023 (the "Q1 Filings") by the May 30, 2023 filing deadline. Till is in the process of adopting International Financial Reporting Standards 17, Insurance Contracts ("IFRS 17"), which became effective January 1, 2023 with a transition date of January 1, 2022. The adoption of IFRS 17 affects the timing of earnings recognition for the insurance contracts and the carrying amount of insurance contract assets and liabilities for Till's subsidiary Omega General Insurance Company, as well as requiring changes in presentation and disclosure. IFRS 17 must be applied retrospectively to each group of insurance contracts as if IFRS 17 had always applied, and as a result, comparative information must be restated. Adopting IFRS 17 has been more time-consuming than Till had anticipated, and as a result, the Q1 Filings were not filed by the May 30, 2023 deadline. Till currently anticipates the Q1 Filings will be made before June 30, 2023. Reported by: Brian P. Lupien Chief Executive Officer Till Capital Corporation Till Capital Corporation Till Capital Corporation, through its wholly-owned U.S. subsidiary, owns 512,798 common shares of Osisko Development Corp. (TSXV: ODV). Till is also a partial owner of IG Tintic LLC, a private company which owns a 1% net smelter return royalty on the East Tintic Mining District near Eureka, Utah, and of IG Far East LLC, a private company with the controlling interest in a joint venture that owns the Durmin gold property in the Russian Far East. Till Capital Corporation is also the majority shareholder of Silver Predator Corp. (TSXV: SPD) and owns various mineral royalties. Till Capital Corporation is also the parent company of wholly owned subsidiary Omega Insurance Holdings Inc. which owns Omega General Insurance Company, a Canadian insurance company offering innovative and customized insurance industry solutions, including fronting and run-off services for insurers/reinsurers, within the Canadian marketplace. Omega Insurance Holdings Inc. also operates Focus Group Inc., a consulting and project management company servicing the local and international needs of its Property Casualty Insurance clients. For additional information: Till Capital Corp. 208-635-5415 info@tillcap.com Cautionary Note At this time, Till has no current plans to provide earnings guidance due to the volatility of investment returns. The Till Capital shares are restricted voting shares, whereby no single shareholder of Till Capital is able to exercise voting rights for more than 9.9% of the voting rights of the total issued and outstanding Till Capital shares (the "9.9% Restriction"). However, if any one shareholder of Till Capital beneficially owns, or exercises control or direction over, more than 50% of the issued and outstanding Till Capital shares, the 9.9% Restriction will cease to apply to the Till Capital shares. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Till Capital or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Trading in the securities of Till Capital should be considered speculative. Cautionary Statement Regarding Forward Looking Information Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Till will obtain from them. In particular, Till cautions that the completion of the proposed transactions cannot be predicted with certainty, and that there can be no assurance at this time that the proposed transactions will be completed in the manner noted above or at all. These forward-looking statements reflect management's current views and are based on certain expectations, estimates, and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause Till's actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond Till's control. Till does not undertake to update any forward-looking information, except in accordance with applicable securities laws. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.