(TheNewswire)
Vancouver, January 2, 2025 TheNewswire – Element79 Gold Corp. ( CSE:ELEM ) ( OTC:ELMGF ) (FSE:7YS) (‘Element79 Gold’, or ‘ the Company’) announces today that due to timing delays related to changing auditors, it has miss ed its filing deadline of December 30, 2024 for its audited annual financial statements and accompanying M anagement’s D iscussion and A nalysis as well as the related CEO and CFO certificates for the year ended August 31, 2024 (collectively, the ‘Annual Filings’), as required under applicable Canadian securities laws.
In connection with the Company’s inability to file the Annual Filings on time, the Company announces that it was granted approval for a Management Cease Trade Order (‘MCTO’) under National Policy 12-203 – Management Cease Trade Orders (‘NP 12-203’) by the British Columbia Securities Commission , as principal regulator . The Company changed its auditor in May 2024, and as a result of audit complications and requirements resulting from increased transaction volume experienced by the Corporation, it requires the extension and therefore applied for the MCTO . The Company anticipates that, subject to current conditions remaining the same, it will require approximately three additional weeks to complete the process and will use its best efforts to complete the process within the timeline indicated.
The Company expects to file the Annual Filings as soon as they are available, but in any event no later than January 30, 2025 .
Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, the Company’s Chief Executive Officer and Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities will not be able to trade in the Company’s shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted.
The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Element79 Gold Corp.
Element79 Gold is a mining company actively exploring and developing its portfolio of assets, including the high-grade, past-producing Lucero project in Arequipa, Peru, and properties along the Battle Mountain Trend in Nevada. The Company also holds an option to acquire the Dale Property in Ontario and is advancing the Plan of Arrangement spin-out process for its wholly owned subsidiary, Synergy Metals Corp.
For further details on this announcement and the Company’s projects, please visit www.element79.gold .
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
Email: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
Email: investors@element79.gold
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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