Business
Lithium South Re-Schedules Plan of Arrangement Closing as a Result of Cease Trade Order
VANCOUVER, BD / ACCESS Newswire / May 19, 2026 / Lithium South Development Corporation (the ...
About this update from Lithium South Development Corporation
[{"type":"text","content":"Lithium South Re-Schedules Plan of Arrangement Closing as a Result of Cease Trade OrderVANCOUVER, BD / ACCESS Newswire / May 19, 2026 / Lithium South Development Corporation (the \"Company\" or \"Lithium South\") (TSX-V:LIS)(OTCQB:LISMF)(Frankfurt:OGPQ).In a press release on May 11, 2026, the Company provided additional information regarding the closing date (the \"Closing Date\") of the Company's previously announced Plan of Arrangement (the \"Plan of Arrangement\"), and that funds had been received to complete the Plan of Arrangement. Prior to the close of business on the same day, the British Columbia Securities Commission issued a cease trade order (the \"CTO\") against the Company effective May 11, 2026, as the Company has been unable to file its audited annual financial statements, management's discussion and analysis and related certifications for the financial year ended December 31, 2025 (the \"Required Filings\"). As a result of the CTO, the TSX Venture Exchange (the \"Exchange\") suspended trading in the Company's securities on May 12, 2026. As a result of this suspension, the Company is unable to close the Plan of Arrangement on the date previously announced.The failure to file the Required Filings was due to receiving certain foreign documents late to complete the 2025 audit. Those documents have since been received and management is diligently working to resolve the CTO and anticipates filing the Required Filings in the immediate future.The Closing Date for the Plan of Arrangement has been rescheduled to on or about May 22, 2026, subject to the CTO being lifted.On behalf of the Board of DirectorsAdrian F. C. HobkirkPresident and Chief Executive OfficerInvestors / Shareholders call 855-415-8100 / website: www.lithiumsouth.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.Disclaimer for Forward-Looking InformationThis press release contains forward-looking information within the meaning of Canadian securities laws (\"forward-looking statements\"). Forward-looking...