(TheNewswire)
Anonymous Director,
VANCOUVER, BC - TheNewswire - Margaret Lake DiamondsInc. ("MLD" or the "Company") (TSXV:DIA)(FKT:M85A) (OTC:DDIAF) is providing an updatewith respect to the expected timeline for filing its audited annualfinancial statements for the year ended May 31, 2022, the relatedmanagement’s discussion and analysis and certificates of its CEO andCFO (collectively, the “Required Documents”) and its previouslyannounced management cease trade order (“MCTO”) issued by theCompany’s principal regulator, the British Columbia SecuritiesCommission (the “BCSC”), on September 29, 2022.
While the Company and its auditors continue to workdiligently to file the Required Documents as soon as they areavailable, certain additional delays have occurred. The Companypresently anticipates being able to complete and file the RequiredDocuments no later than November 15, 2022.
As previously announced, pursuant to the MCTO, theChief Executive Officer and Chief Financial Officer of the Company maynot trade in securities of the Company until such time as the Companyfiles the Required Documents and the BCSC revokes the MCTO. The MCTOdoes not affect the ability of other shareholders of the Company totrade in securities of the Company.
Pursuant to the provisions of the alternativeinformation guidelines specified in NP 12-203, the Company confirmsthat, as of the date of this news release: (a) there have been nomaterial changes to the information contained in the defaultannouncement issued on March 31, 2021 (the “ DefaultAnnouncement ”) that would reasonably beexpected to be material to an investor; (b) there have been nofailures by the Company to fulfill its stated intentions with respectto satisfying the provisions of the alternative reporting guidelinesunder NP 12-203; (c) there has not been, nor is there anticipated tobe, any specified default subsequent to the default which is thesubject of the Default Announcement; and (d) there is no othermaterial information concerning the affairs of the Company that hasnot been generally disclosed.
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