Business
EDM Announces Cease Trade Order and Anticipated Date of Annual Filings
Halifax, Nova Scotia--(Newsfile Corp. - May 10, 2022) - EDM Resources Inc. ( TSXV: EDM ) (" ED...
About this update from Edm Resources Inc
[{"type":"text","content":"EDM Announces Cease Trade Order and Anticipated Date of Annual FilingsHalifax, Nova Scotia--(Newsfile Corp. - May 10, 2022) - EDM Resources Inc. (TSXV: EDM) (\"EDM\" or the \"Company\") announces that on May 9, 2022, the British Columbia Securities Commission issued a cease trade order (the \"CTO\") against the Company for failure to file its annual audited financial statements and associated documents for the year ended December 31, 2021 (the \"Required Filings\") by the filing deadline of May 2, 2022. The CTO will remain in effect until the Required Filings are made, and subject to limited exceptions contained in the CTO, prohibits trades in or purchases of the Company's securities in each Canadian jurisdiction which has adopted National Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions or which has a statutory reciprocal order provision. The delay in completing the Required Filings by the May 2, 2022 deadline was primarily due to extended procedures conducted by the Company's auditor relating to the Scotia Mine's decommissioning liability for the period 2029 onwards. The Company anticipates that the 2021 audit will be completed shortly, and expects to make the Required Filings on or before May 13, 2022, after which the CTO will be revoked.About EDM Resources Inc.EDM is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia. EDM also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia.The Company's common shares are traded on the TSX Venture Exchange under the symbol \"EDM\". For more information, please contact:Mark Haywood - President & Chief Executive OfficerRobert Suttie - Chief Financial OfficerSimion Candrea - Vice President, Corporate DevelopmentHead Office Purdy's Wharf, 1959 Upper Water Street, Suite 1301, Nova Scotia, B3J 3N2, CanadaTelephone +1 (902) 482 4481Facsimile +1 (902) 422 2388Email & Web [email protected] & www.EDMresources.comThe Company's corporate filings and technical reports can be viewed on the Company's SEDAR profile at www.sedar.com. Further information on EDM is also available on Facebook at http://www.facebook.com/EDMresources.inc Twitter at http://www.twitter.com/EDMresources and LinkedIn at http://www.linkedin.co...