Business
Antioquia Gold Inc. Announces Planned Restatement of Financial Statements for The Years Ended December 31, 2023 and December 31, 2022
Calgary, Alberta--(Newsfile Corp. - May 15, 2026) - Antioquia Gold Inc. (OTC: AGDXF) ("Antioquia Gold" or the "Company") announces that its financial statements and corresponding management discussion and analysis for the years ended December 31, 2023, and December 31, 2022, cannot be relied upon and need to be restated and refiled. Restatement is necessary due to changes in the depletion basis for productive-stage assets and the useful life of titles and licenses in its wholly-owned subsidiary.
About this update from Antioquia Gold Inc
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - May 15, 2026) - Antioquia Gold Inc. (OTC: AGDXF) ("Antioquia Gold" or the "Company") announces that its financial statements and corresponding management discussion and analysis for the years ended December 31, 2023, and December 31, 2022, cannot be relied upon and need to be restated and refiled. Restatement is necessary due to changes in the depletion basis for productive-stage assets and the useful life of titles and licenses in its wholly-owned subsidiary Antioquia Gold Ltd. The amended and restated financial statements will include adjustments to depreciation, depletion, useful life estimates and impairment of the affected assets, and foreign currency transactions.","length":734,"tagName":"p"},{"type":"text","content":"As disclosed in the Company's press release dated April 22, 2026, following the resignation of BDO Canada as auditor, the Company (under the oversight of its Audit Committee) is in the process of engaging an independent expert to review its internal controls over financial reporting and its governance framework to ensure they meet applicable standards and reflect best practices.","length":385,"tagName":"p"},{"type":"text","content":"The independent review remains ongoing and the full extent of this impact is still being determined. The Company is in the process of identifying and retaining a successor auditor. In the circumstances, the Company cannot at this time estimate when it will file its restated financial statements and corresponding management discussion and analysis for the years ended December 31, 2023, and December 31, 2022. The Company is working diligently on these matters and will provide updated information as appropriate.","length":514,"tagName":"p"},{"type":"text","content":"ON BEHALF OF THE BOARD OF ANTIOQUIA GOLD INC.","length":45,"tagName":"p"},{"type":"text","content":"Gustavo Noriega Bentin, Chief Financial Officer of Antioquia Gold Inc.","length":70,"tagName":"p"},{"type":"text","content":"For further information contact: Antioquia Gold Inc.1-800-348-9657 (Canada)Email: [email protected] www.antioquiagoldinc.com","length":136,"tagName":"p"},{"type":"text","content":"Forward-looking information ","length":27,"tagName":"p"},{"type":"text","content":"Certain information in this News Release constitutes "forward-lookin...