Euromax Resources Ltd. Announces Cease Trade Order
VANCOUVER, April 9, 2024 - Euromax Resources Ltd. (TSXV: EOX): ("Euromax" or the "Company"), announces that, further to the news release dated April 8, 2024, the Ontario Securities Commission (the "OSC") has notified the Company that it has issued a cease trade order ("FFCTO") under Multilateral Instrument 11-103 - Failure-to-File Cease Trade Orders in Multiple Jurisdictions against the Company. The FFCTO was issued as a result of the Company's delay in filing its audited annual financial statements, accompanying management discussion and analysis, and CEO and CFO certifications for the financial year ended December 31, 2023 (the "Annual Filings") in accordance with applicable Canadian securities laws. The FFTCO prohibits any trading, whether direct or indirect, in respect of each security of the Company in each jurisdiction in Canada until such time as the Company is able to complete the filing of the Annual Filings and successfully apply for a revocation of the FFCTO. If the Annual Filings are made within 90 days of the date of the FFCTO, such filings will constitute the Company's application to have the FFCTO revoked. There can be no assurance that the FFCTO will be revoked on the timeline contemplated by the Company.
Euromax continues to make every effort to submit the Annual Filings in a timely fashion and expects to be in a position to file the Annual Filings by no later than April 30, 2024. The Company will continue to engage with the OSC as necessary during this time. The Company will provide further updates in due course and will issue a news release once the Annual Filings have been filed.
Euromax has a major development project in North Macedonia and is focused on building and operating the Ilovica-Shtuka gold-copper project.
This news release contains statements that are forward-looking, such as those relating to the Company's potential responses to the Annual Filings delay, potential results of the Annual Filings delay, and the expected timing for filing of the Annual Filings. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including its annual information form for the year ended December 31, 2022 and financial statements and related MD&A for the financial years ended December 31, 2022 and 2021, and the unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2023 and 2022 along with the accompanying MD&A, filed with the securities regulatory authorities in certain provinces of Canada and available on SEDAR+ at sedarplus.ca. The forward-looking statements contained in this document are as of the date of this document, and are subject to change after this date. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Euromax disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Euromax Resources Ltd.
Contact
please visit www.euromaxresources.com or contact: Tim Morgan-Wynne, Executive Chairman, +44 20 3918 5160, tmorganwynne@euromaxresources.com