(TheNewswire)
Vancouver, BC - TheNewswire - June 30, 2023 - Eastfield Resources Ltd. (“ Eastfield ”) (TSX-V:ETF) ( OTC:ETFLF) hasinitiated a Management Cease Trade Order (MCTO)effective immediately.
Two weeks prior to the June 28, 2023 deadline to fileits audited annual financial statements and accompanyingmanagement’s discussion and analysis and related CEO and CFOcertificates for the fiscal year ended February 28, 2023(collectively, the “Annual Filings”), as required under applicableCanadian securities laws, Eastfield was informed by its auditor thatdue to a change in their licensing, Eastfield must engage a newauditor because they no longer had the ability to issue auditopinions. As a result, Eastfield will be unable to meet the June 28,2023 deadline for filing its Annual Filings.
In connection with Eastfield’s inability to file theAnnual Filings on time, it has been approved for a Management CeaseTrade Order (“MCTO”) under National Policy 12-203 – ManagementCease Trade Orders (“NP 12-203”) by the British ColumbiaSecurities Commission.
Eastfield remains confident in its ability to completethese Annual Filings and expects to file them as soon as they areavailable, but is looking at completion by or about August 18, 2023.
Until Eastfield files the Annual Filings, it willcomply with the alternative information guidelines set out in NP12-203. These guidelines, among other things, require Eastfield toissue bi-weekly default status reports, in the form of news releases,for so long as the Annual Filings have not been filed.
During the MCTO, the general investing public willcontinue to be able to trade in Eastfield’s common shares listed onthe TSX Venture Exchange. However, Eastfield’s Chief ExecutiveOfficer and Chief Financial Officer and such other directors, officersand persons as determined by the applicable regulatory authorities,will not be able to trade in Eastfield’s shares, nor will Eastfieldbe able to, directly or indirectly, issue securities to or acquiresecurities from an insider or employee until such time as the AnnualFilings and all continuous disclosure requirements have been filed byEastfield, and the MCTO has been lifted.
Eastfield confirms that as of the date of this newsrelease there are no insolvency proceedings against it and there is noother material information concerning its affairs that has not beengenerally disclosed.
J.W. Morton, P. Geo.
President and CEO
Contact: (604) 681-7913 or Toll Free:888-656-6611
For more information, please visit Eastfield’s website at www.eastfieldresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this news release.
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