Pasinex Provides Update on Status of MCTO
May 13 2024 - 5:01PM
Pasinex Resources Limited (CSE: PSE) (FSE: PNX) (the
“
Company” or “
Pasinex”), is
providing a further update on the status of a management cease
trade order (the "
MCTO") application to the
British Columbia Securities Commission that was granted on April
30, 2024.
The Company was granted a voluntary MCTO under
National Policy 12-203 – Management Cease Trade Orders (“NP
12-203”). As previously announced on April 22, 2024 (the
“Announcement”), the application for the MCTO was
made by the Company in order to secure additional time for the
Company to file its audited annual financial statements and the
related management’s discussion and analysis for the year ended
December 31, 2023, (the “Annual
Filings”), which were due on April 29, 2024.
The MCTO prohibits all trading in the capital of
the Company, whether directly or indirectly, by the Company’s CEO
and CFO. The MCTO does not affect the ability of other shareholders
to trade in the securities of the Company.
The Company and its auditors continue to work
diligently toward completing the Annual Filings as soon as
possible. The Company previously announced it expected to file the
Annual Filings by May 15, 2024, but now anticipates further delay.
The Company expects that it will be in a position to file the
Annual Filings on or before May 31, 2024.
The Company confirms that since the date of the
Announcement: (i) other than as described above, there has been no
material change to the information set out in the Announcement that
has not been generally disclosed; (ii) other than as described
above, there has been no failure by the Company in fulfilling its
stated intentions with respect to satisfying the provisions of the
alternative information guidelines set out in NP 12-203; (iii)
there has not been any other specified default by the Company under
NP 12-203; and (iv) there is no other material information
concerning the affairs of the Company that has not been generally
disclosed.
The Company will continue to satisfy the
provisions of the alternative information guidelines under NP
12-203 by issuing bi-weekly default status reports in the form of
news releases for so long as it remains in default of the
above-noted filing requirements.
About Pasinex
Pasinex Resources Limited is a Toronto-based
mining company that owns 50% of Horzum Maden Arama ve Isletme
Anonim Sirketi (“Horzum AS”),
through its 100% owned subsidiary Pasinex Arama ve Madencilik
Anonim Sirketi. Horzum AS holds 100% of the producing Pinargozu
high-grade zinc mine. Horzum AS sells directly to zinc smelters and
or refiners through commodity brokers from its mine site in
Türkiye. The Company also holds a 51% interest, with an option to
increase to an 80% interest of a high-grade zinc exploration
project, the Gunman Project, located in Nevada. Pasinex has a
strong technical management team with many years of mineral
exploration and mining project development experience. Pasinex
Resources Limited mission is to explore and extract high grade ore
to drive growth and wealth for all of its stakeholders including
shareholders, employees and the communities of our operations,
meeting all requirements in safety, health and the environment.
Visit our website at www.pasinex.com.
For more information,
contact:
Andrew GottwaldChief Financial OfficerPhone: +1
416.861.9659Email: info@pasinex.com |
|
Evan WhiteManager of Corporate CommunicationsPhone: +1
416.906.3498Email: evan.white@pasinex.com |
|
|
|
The CSE does not accept responsibility for the
adequacy or accuracy of this news release. This news release
includes forward-looking statements that are subject to risks and
uncertainties. Forward-looking statements, including those relating
to the timing of the filing of the Annual Filings and involve known
and unknown risks, uncertainties, and other factors that could
cause the actual results of the Company to be materially different
from the historical results or any future results expressed or
implied by such forward-looking statements. All statements within,
other than statements of historical fact, are to be considered
forward-looking. Although Pasinex believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, including the accuracy of the timelines
communicated to the Company from the component auditors, such
statements are not a guarantee of future performance, and actual
results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, continued availability of capital and
financing, exploration results, and general economic, market or
business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. We do not
assume any obligation to update any forward-looking statements.
PNX Metals (ASX:PNX)
Historical Stock Chart
From Jul 2024 to Aug 2024
PNX Metals (ASX:PNX)
Historical Stock Chart
From Aug 2023 to Aug 2024