IFR Granted Management Cease Trade Order by the ASC

About this update from International Frontier Resources Corporation

[{"type":"text","content":"IFR Granted Management Cease Trade Order by the ASCCalgary, Alberta--(Newsfile Corp. - May 9, 2023) - International Frontier Resources Company (TSXV: IFR) (\"IFR\" or the \"Company\"), announces that its principal regulator, the Alberta Securities Commission, has granted a management cease trade order (the \"MCTO\").As previously announced on April 28, 2023 (the \"Announcement\"), the Company applied for the MCTO due to an expected delay in the filing of the audited consolidated financial statements for the year ended December 31, 2022, annual management's discussion and analysis for the same period and management certifications of annual filings (collectively, the \"Filings\"). The MCTO restricts the Chief Executive Officer and Chief Financial Officer from all trading in securities of the Company until such time as the Filings have been filed by the Company and the MCTO is no longer in effect. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company, however, the Company notes that the trading in the common shares of the Company is currently halted pursuant to the policies of the TSX Venture Exchange. IFR and its auditor continue to work diligently toward completing the Filings as soon as possible with the goal of filing the Filings by May 12, 2023. The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the \"alternative information guidelines\" under National Policy 12-203 - Management Cease Trade Orders (\"NP 12-203\") and issue bi-weekly default status reports for so long as the delay in filing the Filings continues, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.About International Frontier ResourcesInternational Frontier Resources Company (IFR) is a Canadian publicly traded Company with a demonstrated track record of advancing oil and gas projects. Through it...

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