Business
International Battery Metals Provides Bi-Weekly Status Report
Vancouver, British Columbia--(Newsfile Corp. - June 10, 2022) - International Battery Metals Ltd. (CSE: IBAT) (OTC Pink: IBATF) (the "Company" or "IBAT") is pro
About this update from International Battery Metals Ltd
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 10, 2022) - International Battery Metals Ltd. (CSE: IBAT) (OTC Pink: IBATF) (the \"Company\" or \"IBAT\") is providing this bi-weekly status report pursuant to National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults (\"NP 12-203\"). On June 1, 2022, the Company announced (the \"Default Announcement\") that, for reasons disclosed in the Default Announcement, the filing of the Company's audited financial statements, accompanying management's discussion and analysis, and related CEO and CFO certifications for the fiscal year ended January 31, 2022 (collectively, the \"Annual Filings\"), would not be completed by the prescribe deadline of May 31, 2021. As a result of the delay in filing the Annual Filings, the Company's principal regulator, the British Columbia Securities Commission, granted a temporary management cease trader order (the \"MCTO\") effective as of June 1, 2022. The MCTO prohibits all trading by the CEO and CFO of the Company, and such other directors, officers and persons as determined by the applicable regulatory authorities, until the MCTO has been revoked. As of the date of this press release, the Company has now satisfied all information requests of its auditors, Davidson and Company LLP (the \"Auditor\"), and will now convene a meeting of its Audit Committee to review the Annual Filings with the Auditor and finalize its recommendation to the Company's Board of Directors. The Company anticipates that it will be able to complete its Annual Filings by no later than Wednesday, June 15, 2022. Pursuant to the provisions of the alternative information guidelines specified by NP 12-203, the Company reports that since the Default Announcement there have been no material changes to the information contained in the Default Announcement. Furthermore, there is no other material information concerning the affairs of the Company that has not been generally disclosed. The Company confirms, that since its Default Announcement, there have been no failures by it in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203. Until the Annual Filings have been filed, the Company intends to continue to satisfy the provision of the alternative information guidelines specified b...