ETF:CC - Eastfield Provides Bi-Weekly MCTO Status Update
(TheNewswire)
Vancouver, BC - TheNewswire - July 14, 2023 - Eastfield Resources Ltd. (“ Eastfield ” or the“ Company ”) (TSX-V:ETF) ( OTC:ETFLF) i sproviding a bi-weekly default status update in accordance withNational Policy 12-203 – Management Cease Trade Orders (“NP12-203”)
In a press release dated June 29, 2023, the Companyannounced (the “Default Announcement”) that it submitted anapplication to the British Columbia Securities Commission (the“BCSC”), the Company’s principal regulator, for a managementcease trade order (“MCTO”) in connection with the Company’sdelay in filing its audited annual financial statements for the yearended September 30, 2022, and the management's discussion and analysisand related CEO and CFO certificates for the period (collectively, the“Required Annual Documents”) which were required to be filed on orbefore June 28, 2023.
The MCTO was issued by the BCSC on June 29, 2023. Itprevents the Company’s President and Chief Financial Officer fromtrading in the Company’s securities but does not affect the abilityof other shareholders, including the public, to trade in thesecurities of the Company.
Eastfield remains confident in its ability to completethe Required Annual Documents and expects to file them as soon as theyare available, but is looking at completion by or about August 18,2023.
As a result of the late filing of the Required AnnualDocuments, the Company will not be in a position to file its financialstatements, management's discussion and analysis and related officercertifications for the three-month period ended May 31, 2023, beforethe prescribed deadline of July 31, 2023.
The MCTO remains in effect until the Company files theRequired Documents and the BCSC’s Executive Director has revoked theMCTO. The Company confirms that since the date of the DefaultAnnouncement, other than as described above: (a) there has been nomaterial change to the information set out in the Default Announcementthat has not been generally disclosed; (b) there has been no failureby the Company in fulfilling its stated intentions with respect tosatisfying the provisions of the alternative information guidelinesset out in NP 12-203; and (c) there is no other material informationconcerning the affairs of the Company that has not been generallydisclosed.
The Company confirms that it will continue to satisfythe provisions of the alternative information guidelines under NP12-203 by issuing bi-weekly default status reports in the form of newsreleases for so long as it remains delayed in filing the RequiredDocuments.
J.W. Morton, P. Geo.
President and CEO
Contact: (604) 681-7913 or Toll Free:888-656-6611
For more information, please visit Eastfield’s website at www.eastfieldresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this news release.
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