Business
Kore Announces Late Filing of Annual Financial Statements and Management Cease Trade Order
(TheNewswire) Vancouver, BC – TheNewswire - May 01, 202 5 – K...
About this update from Kore Mining Ltd.
[{"type":"text","content":"Kore Announces Late Filing of Annual Financial Statements and Management Cease Trade Order \n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, BC –\n \n\n TheNewswire -\n \n\n May 01, 202\n \n\n 5\n \n\n – KORE Mining\nLtd. (TSXV: KORE) (“KORE” or the “Company”) announces today\nthat as a result of delays to its audit, the Company’s annual\nfinancial statements and accompanying management's discussion and\nanalysis for the fiscal year ended December 31, 2024 (the “Annual\nFilings”) the Company has determined that they may not be able to\nfile the Required Filings by the Filing Deadline as required by Part 4\nof National Instrument 51-102 Continuous Disclosure Obligations.  The\nreason for the anticipated delay is due to the late commencement of\nthe audit process, which was caused by the Issuer’s financial\nconstraints. These constraints resulted in outstanding fees owned to\nthe third-party service provider, which in turn delayed the\npreparation of key accounting records required for the audit. The\nIssuer has since secured the necessary funding to satisfy the\noutstanding obligations and has now re-engaged both its service\nprovider and auditor to proceed with the audit process. The Company is\nworking with its auditor (Davidson & Company LLP) to complete the\naudit in a timely manner.\n \n\n\n\n\n\n\n\n The Company currently expects to file the Annual\nFilings on or before May 31, 2025 and will issue a news release\nannouncing completion of such filings at such time. Until the Company\nfiles the Annual Filings, it will comply with the alternative\ninformation guidelines set out in National Policy 12-203 –\nManagement Cease Trade Order for issuers who have failed to comply\nwith a specified continuous disclosure requirement within the times\nprescribed by applicable securities laws. The guidelines, among other\nthings, require the Company to issue bi-weekly default status reports\nby way of a news release so long as the Annual Filings have not been\nfiled.\n \n\n\n\n In addition to continuing to advance its ongoing\nassets, the Issuer may commence and complete a consolidation of its\noutstanding common shares in accordance with applicable securities\nlaws and stock exchange policies.\n \n\n\n\n During the MCTO, the general investi...