(TheNewswire)
Vancouver, BC – TheNewswire --January 4, 2024 -- Baru GoldCorp. (TSXV:BARU)(OTC:BARUF) (the“Company”) announces that further to thenews release of December 28, 2023, the Company’s request for a ManagementCease Trade Order (“ MCTO ”), has receivedapproval. The request was made as it was not able to file itsaudited annual financial statement for the period ended August 31,2023, and its MD&A by the filing deadline of December 29, 2023(collectively, the “ AnnualFilings ”), and as a result is in default ofits obligations under National Instrument 51-102 Continuous DisclosureObligations .
The Company has been granted approval from the BritishColumbia Securities Commission for the MCTO under NationalPolicy 12-203 – Management Cease Trade Orders (“ NP 12-203 ”). TheCompany applied for a MCTO as the Company required additional time toraise the necessary capital to fund its annual audit within the timeframe to file on or before December 29, 2023. All the audit work hasbeen completed and once the auditor is paid, the Annual Filings willbe made.
The Company expects to file the Annual Filings as soonas funds are available, but in any event on or before February 27,2024 (two-month period contemplated by NP 12-203).
Until the Company files the Annual Filings, it willcomply with the alternative information guidelines set out in NP12-203. The guidelines, among other things, require the Company toissue bi-weekly default status reports, in the form of news releases,for so long as the Annual Filings have not been filed.
The Company wishes to reiterate that during the MCTO,the general investing public will continue to be able to trade in theCompany’s common shares listed on the Canadian Securities Exchange.However, the Company’s Chief Executive Officer and Chief FinancialOfficer and such other directors, officers and persons as determinedby the applicable regulatory authorities will not be able to trade inthe Company’s shares, nor will the Company be able to, directly orindirectly, issue securities to or acquire securities from an insideror employee of the Company until such time as the Annual Filings andall continuous disclosure requirements have been filed by the Company,and the MCTO has been lifted.
On behalf of the Board of Directors
BARU GOLD CORP.
“Terry Filbert”
Terry Filbert
Director and Chief Executive Officer
President & CEO
info@barugold.com
For investor contacts more information, pleasecontact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext. 702
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are nothistorical in nature, constitute “forward looking statements”within the meaning of that phrase under applicable Canadian securitieslaw. These statements include, but are not limited to, statements orinformation concerning future work programs, results and timing of anywork programs, the Company’s performance or events as of the datehereof. These statements reflect management’s current assumptionsand expectations and by their nature are subject to certain underlyingassumptions, known and unknown risks and uncertainties and otherfactors which may cause actual results, performance or events to bematerially different from those expressed or implied by such forwardlooking statements. Those risks include the interpretation of drillresults; the geology, grade and continuity ofmineral deposits; the possibility that future exploration, developmentor mining results will not be consistent with our expectations;commodity and currency price fluctuation; failure to obtain adequatefinancing; regulatory, recovery rates, refinery costs, and otherrelevant conversion factors, permitting and licensing risks; generalmarket and mining exploration risks and production and economic risksrelated to design and engineering, manufacturing, technologicalprocesses and test procedures and the risk that the project’s outputwill not be salable at a price that will cover the project’soperating and maintenance costs. Forward-looking statements should notbe construed as investment advice. Readers should perform a detailed,independent investigation and analysis of the Company and areencouraged to seek independent professional advice before making anyinvestment decision. Accordingly, readers should not place unduereliance on any forward-looking statement. Except as required byapplicable securities laws, the Company disclaims any obligation toupdate or revise any forward looking statements to reflect events orchanges in circumstances that occur after the date hereof.
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