Abcourt Provides Update on Management Cease Trade Order
November 10 2023 - 8:00AM
Abcourt Mines Inc. (“Abcourt” or the
“Corporation”) (TSX Venture: ABI) is providing an
update with respect to the previously announced management cease
trade order (“
MCTO”) issued by the Corporation’s
principal regulator, the Autorité des marchés financiers (Québec)
(the “
AMF”), on November 1, 2023.
The MCTO was issued in connection with the delay
by the Corporation to file its audited consolidated financial
statements, its management’s discussion and analysis as well as the
CEO and CFO certificates for the year ended June 30, 2023
(the “Required Documents”), before the
prescribed deadline of October 30, 2023.
The Corporation’s Board of Directors and
management confirm that they are working expeditiously to file the
Required Documents as soon as they are available, on or about
November 17, 2023. As previously announced, pursuant to the MCTO,
the CEO, the CFO and all the directors of the Corporation may not
trade in securities of the Corporation until such time as the
Corporation files the Required Documents and the AMF revokes the
MCTO. The MCTO does not affect the ability of shareholders to trade
their securities.
The Corporation is providing this default status
report in accordance with Policy Statement 12-203 Respecting
Management Cease Trade Orders (“PS 12-203”). Until
such time as the Corporation files the Required Documents and the
MCTO has been revoked, the Corporation intends to follow the
provisions of the Alternative Information Guidelines set out in PS
12-203, including the issuance of bi-weekly default status reports
in the form of news releases.
Pursuant to the provisions of the alternative
information guidelines specified in PS 12-203, the Corporation
confirms that, as of the date of this news release, (a) there have
been no material changes to the information contained in the
default announcement issued on October 27, 2023 (the
“Default Announcement”) that would reasonably be
expected to be material to an investor; (b) there have been no
failures by the Corporation to fulfill its stated intentions with
respect to satisfying the provisions of the alternative reporting
guidelines under PS 12-203; (c) there has not been, nor is there
anticipated to be, any specified default subsequent to the default
which is the subject of the Default Announcement; and (d) there is
no other material information concerning the affairs of the
Corporation that has not been generally disclosed.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a Canadian exploration
corporation with strategically located properties in northwestern
Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where
it concentrates its activities.
For further information, please visit our
website at www.abcourt.ca and consult our filings under Abcourt's
profile on www.sedarplus.ca, or contact:
Pascal HamelinPresident and CEOT:
(819) 768-2857E: phamelin@abcourt.com |
Dany Cenac Robert, Investor
RelationsReseau ProMarket Inc.,T: (514)
722-2276, post 456E: dany.cenac-robert@reseaupromarket.com |
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Cautionary Statement on Forward-Looking
Information
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Such forward-looking information
includes, but is not limited to, statements concerning the timing,
review, completion and filing of the Required Documents as well as
the duration of the MCTO. Forward-looking information involves
risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, delays in obtaining or failures to obtain required
approvals; uncertainties relating to the availability and costs of
financing needed in the future; changes in equity markets;
inflation; fluctuations in commodity prices; delays in the
development of projects; other risks involved in the mineral
exploration and development industry; and those risks set out in
the Corporation’s public documents filed on SEDAR+ at
www.sedarplus.ca. Although the Corporation believes that the
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Corporation disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
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