(TheNewswire)
Toronto, Ontario , July 9, 2024 – TheNewswire – Tantalex Lithium Resources Corp. (CSE: TTX –FSE: DW8 – OTCQB: TTLXF) (“ Tantalex ” or the “ Corporation ”),wishes to announce that the Ontario Securities Commission (the“ OSC ”) issued a failure-to-file cease trade order (the“ FFCTO ”) to the Corporation on July 8, 2024.
The FFCTO is a result of the Corporation’s failure tofile its audited annual financial statements (the “ Annual Financial Statements ”), management discussion and analysis (“ MD&A ”) andcertificates of the Chief Executive Officer and Chief FinancialOfficer (collectively, the “ Annual Documents ”) for the year endedFebruary 29, 2024.
The FFCTO prohibits the trading by any person of anysecurities of the Corporation in each jurisdiction in Canada in whichthe Corporation is a reporting issuer, including trades in theCorporation’s securities made through the Canadian SecuritiesExchange (CSE), for as long as the FFCTO remains in effect. The FFCTOprovides an exception for beneficial securityholders of theCorporation who are not currently (and who were not as of July 8,2024) insiders or control persons of the Corporation and who sellsecurities of the Corporation acquired before July 8, 2024 if both ofthe following criteria are met: (i) the sale is made through a“foreign organized regulated market”, as defined in section 1.1 ofthe Universal Market Integrity Rules of the Canadian InvestmentRegulatory Organization; and (ii) the sale is made through aninvestment dealer registered in a jurisdiction of Canada in accordancewith applicable securities legislation.
The Corporation is not currently subject to anyinsolvency proceedings.
Additional time is needed to complete the audit due tothe additional complexities associated with commencing production thisyear and the Corporation is closely working with its auditors to filethe Annual Documents. The Corporation intends to file the AnnualDocuments as soon as possible and will provide updates as furtherinformation becomes available.
About Tantalex Lithium ResourcesCorporation
Tantalex Lithium is an exploration and developmentstage mining company engaged in the acquisition, exploration,development and distribution of lithium, tin, tantalum and otherhigh-tech mineral properties in Africa.
It is currently focused on developing its lithiumassets in the prolific Manono area in the Democratic Republic ofCongo; The Manono Lithium Tailings Project and the Pegmatite CorridorExploration Program.
Cautionary Note Regarding ForwardLooking Statements
This news release includes certainstatements that may be deemed forward looking statements. Allstatements in this document, other than statements of historicalfacts, which address future production, reserve potential, explorationactivities and events or developments that the Corporation expects,are forward looking statements. Such forward-looking statementsinclude, without limitation: (i) estimates of future lithium, tin andtantalum prices, supply, demand and/or production; (ii) estimates offuture cash costs andrevenues; (iii) estimates of future capital expenditures; (iv)estimates regarding timing of future development, construction,production or closure activities; (v) statements regarding futureexploration results; (vi) statements regarding cost structure, projecteconomics, or competitive position; (vii) statements comparing theCorporation’s properties to other mines, projects or metals; and(viii) the Corporation’s ability to file the Annual Documents andthe required steps in respect of the audit and the subsequentrevocation of the FFCTO. Although the Corporation believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the forward-looking statements. Factors that could causeactual results to differ materially from those in forward-lookingstatements include market prices, exploitation and explorationsuccesses, continued availability of capital and financing, andgeneral economic, market or business conditions. Investors arecautioned that any such statements are not guarantees of futureperformance, that the Corporation expressly disclaims anyresponsibility for revising or expanding the forward- lookingstatements to reflect actual results or developments, and that actualresults or developments may differ materially from those projected, inthe forward-looking statements, except as required by law.
For more information, please contact:
Eric Allard
President & CEO
Email: ea@tantalex.ca
Website: https://tantalexlithium.com/
Tel: 1-581-996-3007
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