PNN:CC - Pambili Announces Further Delay in Filing of Annual Financial Statements
(TheNewswire)
Calgary, Alberta – TheNewswire- May 25, 2023 – Pambili Natural ResourcesCorporation (“ Pambili ” or the “ Company ”)(TSXV:PNN) announces that further to its previous news release datedApril 21, 2023, it was unable to meet the filing date of 30 April(“ Filing Date ”), as required under National Instrument 51-102, and isstill working with its auditors for filing of 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
As stated previously, the default was due, in part, tobusiness and administrative disruption experienced by the Company inrespect of both its own personnel and the Company’s auditor’sinability to complete the work required to issue the Documents due toa lack of working capital.
Using the proceeds of a loan from an arm’s-lengththird party, the Company continues to work with its auditors andaccountants and it is expected the Documents will be filed within 60days of the Filing Date, if not before.
On May 0, 2023, the Alberta Securities Commission(“ ASC ”) issued a Management Cease Trade Order (“ MCTO ”) that prohibits the CEO and CFO of the Company from trading inthe securities of the Company until such time as the Documents arefiled. During this period of default and until filing of theDocuments, the Company intends to satisfy the provisions of thealternative information guidelines as required by National Policy12-203 Management Cease TradeOrders .
The Company confirms that, other than as disclosed inprior press 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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