NZN:CC - Nevada Zinc Announces Delay in Annual Filings and Expected Cease Trade Order
OTTAWA, April 30, 2024 (GLOBE NEWSWIRE) -- Nevada Zinc Corporation (NZN:TSX-V) (the “ Company ” or “ Nevada Zinc ”) announces a delay in filing its audited annual financial ?statements and accompanying management’s discussion and analysis and related CEO and ?CFO certificates for the year ended December 31, 2023 (collectively, the “ Annual Filings ”) beyond the filing deadline of April 29, 2024 as ?required under applicable Canadian securities laws.? The Company was not able to complete the Annual Filings on time due to a delay in the completion of a financing the Company is currently negotiating.
As a result of the delay, the Company will be noted in default by applicable securities regulatory authorities in Canada and expects that the Ontario Securities Commission (“ OSC ”), as principal regulator, will issue a failure-to-file cease-trade order (“ CTO ”) in accordance with the principles and guidance set out in National Policy 12-307 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions . Upon issuance, the CTO will prohibit all trading in Nevada Zinc’s securities in all Canadian jurisdictions for so long as it remains in effect and will result in a suspension of the Company’s common shares from trading on the TSX Venture Exchange (“ TSXV ”). Once issued, the CTO will remain in effect until the Company files the Annual Filings and the CTO is revoked and all TSXV requirements are satisfied.
The Company expects to complete and file the Annual Filings before the end of ?May 2024, and further updates will be provided.
For further information please contact:
Mike Wilson, President & CEO
T: (416) 574-9075
Email: wilson.h.mike@gmail.com
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments regarding regulatory approvals and financings. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results relating to, among other things, ongoing financings, regulatory approvals, expected proceeds from financings, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this news release.