PNN:CC - Extension of Management Cease Trade Order
(TheNewswire)
Calgary, Alberta – TheNewswire- June 15, 2023 – Pambili Natural ResourcesCorporation (“ Pambili ” or the “ Company ”)(TSXV:PNN) announces that further to its news release dated May 31,2023, the Management Cease Trade Order (“ MCTO ”) issued bythe Alberta Securities Commission ( ”ASC” ) on May 05,2023, remains in effect.
Although the public can continue to trade in theCompany's listed securities (“Shares”) while the MCTO is in place,the CEO and CFO of the Company are prohibited from trading in Sharesuntil such time as Pambili has filed the following continuousdisclosure documents (collectively, the “ Documents ”):
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the Company’s Annual Audited Financial Statements forthe year ended December 31, 2022, as required by section 4.2 ofNational Instrument 51-102 - Continuous Disclosure Obligations NI 51-102 ”);and
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the Company’s Management Discussion Analysis for theyear ended December 31, 2022, as required by section 5.1(2) of NI51-102.
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CEO and CFO certificates relating to the Audited AnnualFinancial Statements, as required by NI 51-102
The principal reason for the delay remains theinability of the Company's external auditors to complete the audit forthe financial year ended December 31, 2022, partly because of thelate receipt of certain information from Zimbabwe and because of thedelay in payment of their fees which have now been settled. Pambilicontinues to work with its auditors to resolveany remaining issues and expects that theDocuments will be filed by June 29, 2023, and that the interim Q1financial statements will be filed by June 30, 2023.
During this period of default, the Company willcontinue to satisfy the provisions of the alternative informationguidelines as required by National Policy 12-203 - Management Cease Trade Orders .
Pambili confirms that, other than as disclosed in priorpress releases and material change reports, there have been nomaterial business developments since the filing on November 29, 2022,of the Company’s latest interim financial reports for the periodended September 30, 2022.
About Pambili Natural ResourcesCorporation: Pambili Natural ResourcesCorporation is a natural resources exploration and development company( www.pambilinrc.com ) currentlyactive in Zimbabwe and in the province of Alberta.
For further information,contact:
Pambili NaturalResources Corporation
T : 403 2774421
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Caution Regarding Forward-Looking InformationForward-looking statements - Certain information set forth in thisnews release may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Forward-lookingstatements are often, but not always, identified by words such as“believes”, “may”, “likely”, “plans”, or similarwords. Forward- looking statements included in this news releaseinclude statements with respect to activities in Zimbabwe. Theseforward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of theCorporation, including, but not limited to the impact of generaleconomic conditions, industry conditions, currency fluctuations, anddependence upon regulatory approvals. The Corporation does not assumeany obligation to update the forward-looking statements to reflectchanges in assumptions or circumstances other than as required byapplicable law.
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