Business
Silver Storm Mining Announces Delay of Annual Filings
TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- Silver Storm Mining Ltd. (“Silver Storm” or the "Company") (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) announced today th
About this update from Silver Storm Mining Ltd.
[{"type":"text","content":" TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- Silver Storm Mining Ltd. (“Silver Storm” or the \"Company\") (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) announced today that it anticipates the filing of its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended March 31, 2024 (collectively, the “Annual Filings”) will be delayed beyond the required filing deadline under Parts 4 and 5 of National Instrument 51-102 - Continuous Disclosure Obligations and pursuant to National Instrument 52-109 - Certification of Disclosure in Issuer’s Annual and Interim Filings, being July 29, 2024 (the “Filing Deadline”). As a result of certain complexities associated with the acquisition of the La Parrilla assets, the accounting and audit process remains ongoing at this time. Accordingly, the Company has determined that it will not be able to complete the audit and file the Annual Filings by the Filing Deadline. The Company intends to work closely with its auditor and expects to file the Annual Filings as soon as possible, and in any event, no later than August 28, 2024. The Company does not anticipate any further delay in filing its Annual Filings together with the related officer certifications for the financial period ended June 30, 2024, due by August 29, 2024. The Company is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company has made an application to the British Columbia Securities Commission, as principal regulator of the Company, for a management cease trade order (“MCTO”) under NP 12-203 in respect of the anticipated default regarding the Annual Filings. The MCTO was granted by the British Columbia Securities Commission on July 30, 2024. The issuance of the MCTO generally will not affect the ability for persons who have not been directors, officers or insiders of the Company to trade in their securities. The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default with its Annual Filings. The Company confirms as of the date of this news release, that there is no insolvency proceeding against it and there is no ...