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Tantalex Lithium Resources Announces Cease Trade Order
Toronto, Ontario, July 9, 2024 – TheNewswire – Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) (“Tantalex” or the “Corporation”), wishes t
About this update from Tantalex Lithium Resources Corp
[{"type":"text","content":"Toronto, Ontario, July 9, 2024 – TheNewswire – Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) (“Tantalex” or the “Corporation”), wishes to announce that the Ontario Securities Commission (the “OSC”) issued a failure-to-file cease trade order (the “FFCTO”) to the Corporation on July 8, 2024. The FFCTO is a result of the Corporation’s failure to file its audited annual financial statements (the “Annual Financial Statements”), management discussion and analysis (“MD&A”) and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the “Annual Documents”) for the year ended February 29, 2024. The FFCTO prohibits the trading by any person of any securities of the Corporation in each jurisdiction in Canada in which the Corporation is a reporting issuer, including trades in the Corporation’s securities made through the Canadian Securities Exchange (CSE), for as long as the FFCTO remains in effect. The FFCTO provides an exception for beneficial securityholders of the Corporation who are not currently (and who were not as of July 8, 2024) insiders or control persons of the Corporation and who sell securities of the Corporation acquired before July 8, 2024 if both of the following criteria are met: (i) the sale is made through a “foreign organized regulated market”, as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. The Corporation is not currently subject to any insolvency proceedings. Additional time is needed to complete the audit due to the additional complexities associated with commencing production this year and the Corporation is closely working with its auditors to file the Annual Documents. The Corporation intends to file the Annual Documents as soon as possible and will provide updates as further information becomes available. About Tantalex Lithium Resources Corporation Tantalex Lithium is an exploration and development stage mining company engaged in the acquisition, exploration, development and distribution of lithium, tin, tantalum and other high-tech mineral properties in Africa. It is currently focused on developing its lithium assets in the prolific Manon...