SXOOF - St-Georges Provides Default Update
(TheNewswire)
Montréal – TheNewswire - July 6, 2021 – St-Georges Eco-Mining Corp. (CSE:SX)(OTC:SXOOF) (FSE:85G1) (CNSX:SX.CN) is providing an update to its previouslydisclosed management cease trade order, announced on May 3, 2021, inrespect of the audited annual financial statements and correspondingmanagement’s discussion and analysis for the year ended December 31,2020, including the related CEO and CFO certifications that were notfiled by the required filing deadline of April 30, 2021.
The Annual Financial Filings were not filed on or before the FilingDeadline due to the delay in the completion of the year-end audit ofZeU Technologies, Inc. (“ ZeU ”), a corporation in which the Company has a substantialinterest. The Company owns approximately 29.59% of the issued andoutstanding common shares of ZeU. As a result, the Company will needmore time to complete its consolidated financial statements.
On May 3, 2021, the British Columbia Securities Commission (the“ BCSC ”) approved a MCTOimposed against the Chief Executive Officer, Mr. Herb Duerr and ChiefFinancial Officer, Mr. Richard Barnett, of the Company precluding themfrom trading securities of the Company. The MCTO required the AnnualFinancial Filings to be filed on or before July 2, 2021.
On July 6, 2021, after review, theBCSC granted a further extension for the filing of the AnnualFinancial Filings until July 15, 2021 , as well as an extensionfor the filing of the Company’s interim financial statements andcorresponding management’s discussion and analysis for thethree-month period ended March 31, 2021, including the related CEO andCFO certifications which must be filed within five business days ofthe filing of the Annual Financial Filings. The Company anticipatesthat the Annual Financial Filings will be filed on or before July 15,2021 and that the Quarterly Financial Filings will be filed withinfive business days thereafter.
No other shareholders other than thetwo officers mentioned will be affected by the MCTO order.
Until the Annual Financial Filings are filed, the Company intends toissue bi-weekly default status reports in accordance with NationalPolicy 12-203 - Management CeaseTrade Orders . The Company intends to satisfy the provisions ofthe Alternative Information Guidelines during the period it remains indefault of the filing requirements. The Company confirms that there isno other material information relating to its affairs that has notbeen generally disclosed.
ON BEHALF OF THE BOARD OF DIRECTORS
“ Frank Dumas”
FRANCOIS (FRANK) DUMAS
Director &COO
A bout St-Georges
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for theadequacy or the accuracy of the contents of this release.
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