Business
Lithium Ionic Provides Bi-Weekly MCTO Status Update
Lithium Ionic Provides Bi-Weekly MCTO Status Update Canada NewsWire TORONTO , May...
About this update from Lithium Ionic Corp
[{"type":"text","content":"\n\n\nLithium Ionic Provides Bi-Weekly MCTO Status Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, May 19, 2026 /CNW/ - Lithium Ionic Corp. (TSXV: LTH) (OTCQX: LTHCF) (FSE: H3N) (\"Lithium Ionic\" or the \"Company\"), is providing this bi-weekly update on the status of the management cease trade order (the \"MCTO\") granted by its principal regulator, the Ontario Securities Commission (the \"OSC\") under National Policy 12-203 – Management Cease Trade Orders (\"NP 12-203\") on May 4, 2026. As previously announced, the Company applied for the MCTO as it was unable to file its audited annual financial statements for the year ended December 31, 2025, the related management's discussion and analysis, and its Form 52-109FV1 CEO and CFO certifications of annual filings (collectively, the \"Required Filings\"). Under National Instrument 51-102 - Continuous Disclosure Obligations, the Required Filings were required to be made no later than April 30, 2026.\nSince the issuance of the MCTO, there have been no material changes to the information contained in the Company's May 5, 2026 news release. The Company continues to work expeditiously and diligently with its auditors to complete the audit as soon as possible.In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports in the form of news releases, for so long as the Company remains in default with the Required Filings and /or Interim Filings; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Filings; and (iii) the Company confirms that, as of the date of this news release, that the Company is not subject to any insolvency proceedings.The MCTO prohibits the chief executive officer and the chief financial officer of the Company (collectively, the \"Restricted Persons\") from trading in securities of the Company for so long...