Business
Sankamap Metals Updates Status on Late Filing of Financial Statements
Edmonton, Alberta--(Newsfile Corp. - November 18, 2025) - Sankamap Metals Inc. (CSE: SCU) ("Sankamap" or the "Company") further to the Company's news releases d
About this update from Sankamap Metals Inc
[{"type":"text","content":" Edmonton, Alberta--(Newsfile Corp. - November 18, 2025) - Sankamap Metals Inc. (CSE: SCU) (\"Sankamap\" or the \"Company\") further to the Company's news releases dated October 21, 2025, and November 4, 2025, the Company continues to work towards the filing of its annual audited financial statements and management's discussion and analysis for the fiscal year ended June 30, 2025 (the \"Required Filings\"). The audit of Sankamap's private subsidiary is not yet complete; however, completion is anticipated within the coming days. The delay in meeting the original timeline resulted from the departure of the quality-control partner overseeing the file during the review process. Sankamap is evaluating the possibility of appointing its subsidiary's auditor as its auditor to complete the consolidated audit, which may accelerate the overall timeline. While Sankamap and its auditor will continue to work toward completing the audit by November 28, 2025, Sankamap anticipates that an extension may be required given the amount of work that remains outstanding. The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (\"MCTO\") under National Policy 12-203 Management Cease Trade Orders (\"NP 12-203\") to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company's CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied. The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted. The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material inf...