Inspiration Energy Applies For Management Cease Trade Order
Vancouver - Inspiration Energy Corp. (the "Company" or "Inspiration") (CSE: ISP) has determined that it will not be able to file its annual audited financial statements for the year ended April 30, 2024 and its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "Required Filings") by the prescribed filing deadline of August 28, 2024 (the "Filing Deadline"). Despite its efforts, the Company is currently not in a position to timely file the Required Filings, primarily as a result of the time required for the Company's auditors to complete the audit of the annual financial statements. The Company's Required Filings will be made as soon as its auditors deliver their Audit Report, which is expected to be received within four weeks from the Filing Deadline.
The Corporation has made an application to the British Columbia Securities Commission for a management cease trade order ("MCTO"), which would restrict all trading in securities of the Corporation, whether direct or indirect, by management of the Corporation. The MCTO would be in effect until the Required Filings are filed.
The Company intends to comply with the provisions of the alternative information guidelines as set out in the National Policy 12-203 Management Cease Trade Orders for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release.
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company's properties. For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Charles Desjardins
CEO, President and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).
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