Business
Gold Mountain Announces Late Filing of Annual Financial Statements
VANCOUVER, BC / ACCESS Newswire / July 2, 2025 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) announced today that it will not file its annual financial statements for the financial year ended March ...
About this update from Gold Mountain Limited
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / July 2, 2025 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) announced today that it will not file its annual financial statements for the financial year ended March 31, 2025 (the "Financial Statements"), or its management's discussion and analysis, CEO and CFO filing certificates or annual information form relating to the Financial Statements (collectively, the "Required Filings"), before the prescribed filing deadline of June 30, 2025 (the "Filing Deadline").","length":603,"tagName":"p"},{"type":"text","content":"The reason for the default is that the Company recently changed its auditor, and this change has caused delays in the audit of the Company's financial statements. As disclosed in the Company's public disclosure record on SEDAR+, effective June 4, 2025, Davidson & Company LLP was appointed as the new auditor of the Company. Due to the time needed for an effective transition to the new auditor, the auditor requires additional time to complete the audit of the Financial Statements. The transition between audit firms requires time to onboard the new auditor with the Company's financial reporting processes, accounting policies, and historical audit documentation. In addition, the new auditor is required to perform certain independent procedures to satisfy professional standards, which are more extensive in the first year of engagement.","length":858,"tagName":"p"},{"type":"text","content":"The Company has now provided all required information to the auditor so that the auditor is able to complete the audit. The Required Filings are expected to be filed as soon as they are available and within a reasonable period, and in any event by no later than July 30, 2025.","length":276,"tagName":"p"},{"type":"text","content":"The Company has made an application with the British Columbia Securities Commission and other applicable securities regulators under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") requesting that a management cease trade order (the "MCTO") be imposed in respect of the late filing of the Required Filings. There is no guarantee that a MCTO will be granted. If the MCTO is granted, the MCTO will prohibit the chief executive...