Atacama Resources Intl. CEO Glenn Grant Announces His Resignation as a Step Towards Getting the Cease Trade Order Revoked
Atacama Resources International Inc. (OTC Pink: ACRL) announced the resignation of CEO Glenn Grant as part of efforts to meet Alberta Securities Commission (ASC) requirements and revoke a Cease Trade Order (CTO) in place since July 2018. The company has been negotiating with the ASC's Enforcement Division regarding alleged CTO breaches, with a Notice of Hearing pending. New management and directors will be announced soon.
Grant's resignation, effective August 27, 2024, is seen as a necessary step towards CTO revocation, which would allow Canadian investors to purchase shares again. The company remains committed to transparency and advancing its position in mineral exploration, with significant mining claims in Northern Ontario focusing on gold, silver, lithium, graphite, cobalt, and diamonds.
Atacama Resources International Inc. (OTC Pink: ACRL) ha annunciato le dimissioni del CEO Glenn Grant come parte degli sforzi per soddisfare i requisiti della Alberta Securities Commission (ASC) e revocare un Cease Trade Order (CTO) in vigore dal luglio 2018. L'azienda ha negoziato con la Divisione Enforcement dell'ASC riguardo a presunti violazioni del CTO, con un Avviso di Audizione in sospeso. Nuova gestione e nuovi amministratori saranno annunciati a breve.
Le dimissioni di Grant, effettive dal 27 agosto 2024, sono considerate un passo necessario verso la revoca del CTO, che permetterebbe agli investitori canadesi di riacquistare azioni. L'azienda resta impegnata nella trasparenza e nel migliorare la sua posizione nell'esplorazione mineraria, con significativi diritti minerari nel Nord dell'Ontario focalizzati su oro, argento, litio, grafite, cobalto e diamanti.
Atacama Resources International Inc. (OTC Pink: ACRL) anunció la renuncia del CEO Glenn Grant como parte de los esfuerzos para cumplir con los requisitos de la Alberta Securities Commission (ASC) y revocar una Cease Trade Order (CTO) que ha estado en vigor desde julio de 2018. La empresa ha estado negociando con la División de Cumplimiento de la ASC respecto a supuestas violaciones del CTO, con un Aviso de Audiencia pendiente. Pronto se anunciarán nuevos gerentes y directores.
La renuncia de Grant, efectiva el 27 de agosto de 2024, se considera un paso necesario hacia la revocación del CTO, lo que permitiría a los inversores canadienses comprar acciones nuevamente. La empresa se mantiene comprometida con la transparencia y el avance en su posición en la exploración mineral, con importantes concesiones mineras en el norte de Ontario centradas en oro, plata, litio, grafito, cobalto y diamantes.
Atacama Resources International Inc. (OTC Pink: ACRL)는 CEO Glenn Grant의 사임을 발표하며, 이는 알버타 증권 위원회(ASC)의 요건을 충족하고 2018년 7월부터 시행된 Cease Trade Order (CTO)를 철회하기 위한 노력의 일환입니다. 회사는 ASC 집행 부서와 CTO 위반 혐의에 대해 협상 중이며, 청문회 통지가 대기 중입니다. 새로운 경영진과 이사들이 곧 발표될 예정입니다.
Grant의 사임은 2024년 8월 27일자로 시행될 예정이며, 이는 CTO 철회에 필요한 단계로 여겨져 캐나다 투자자들이 다시 주식을 구매할 수 있도록 할 것입니다. 회사는 투명성을 유지하고 자원 탐사에서 자신의 입지를 강화하는 데 전념하고 있으며, 금, 은, 리튬, 흑연, 코발트 및 다이아몬드에 중점을 둔 북온타리오의 상당한 채굴 권리를 보유하고 있습니다.
Atacama Resources International Inc. (OTC Pink: ACRL) a annoncé la démission du PDG Glenn Grant dans le cadre des efforts pour répondre aux exigences de la Alberta Securities Commission (ASC) et révoquer un Cease Trade Order (CTO) en vigueur depuis juillet 2018. L'entreprise a négocié avec la Division des exécutions de l'ASC concernant des violations alléguées du CTO, avec un avis d'audience en attente. Une nouvelle direction et de nouveaux administrateurs seront annoncés prochainement.
La démission de Grant, effective le 27 août 2024, est considérée comme une étape nécessaire vers la révocation du CTO, ce qui permettrait aux investisseurs canadiens d'acheter à nouveau des actions. L'entreprise reste engagée envers la transparence et à faire progresser sa position dans l'exploration minérale, avec d'importants droits miniers dans le nord de l'Ontario axés sur l'or, l'argent, le lithium, le graphite, le cobalt et les diamants.
Atacama Resources International Inc. (OTC Pink: ACRL) hat den Rücktritt von CEO Glenn Grant bekannt gegeben, um die Anforderungen der Alberta Securities Commission (ASC) zu erfüllen und eine seit Juli 2018 bestehende Cease Trade Order (CTO) aufzuheben. Das Unternehmen hat mit der Durchsetzungsabteilung der ASC über mutmaßliche Verstöße gegen die CTO verhandelt; eine Anhörung steht noch aus. Neue Führungskräfte und Direktoren werden bald bekanntgegeben.
Grants Rücktritt, der am 27. August 2024 wirksam wird, wird als notwendiger Schritt zur Rücknahme der CTO angesehen, was es kanadischen Investoren wieder erlauben würde, Aktien zu kaufen. Das Unternehmen ist weiterhin transparent und arbeitet daran, seine Position in der Mineralexploration zu verbessern, mit bedeutenden Bergbaurechten im Norden Ontarios, die sich auf Gold, Silber, Lithium, Graphit, Kobalt und Diamanten konzentrieren.
- Potential progress towards revoking the Cease Trade Order
- New management and directors to be announced, potentially bringing fresh perspectives
- Commitment to transparency and meeting regulatory requirements
- Significant mining claims in Northern Ontario for various valuable minerals
- CEO Glenn Grant's resignation may cause leadership uncertainty
- Ongoing regulatory issues with Alberta Securities Commission
- Pending Notice of Hearing against the company
- Cease Trade Order in effect since July 2018, limiting investor access
Orlando, Florida--(Newsfile Corp. - August 30, 2024) - Atacama Resources International Inc. (OTC Pink: ACRL) (the "Company") announces the resignation of Chief Executive Officer Glenn Grant. He and the Board of Directors felt that this action was necessary to meet the requirements of the Alberta Securities Commission ("ASC") to expedite the path toward removing the Cease Trade Order ("CTO") levied against the Company.
Since July 27, 2018, the Company has been subject to the CTO. The original path toward revocation included providing the ASC with audited financial statements over the past two years and maintaining appropriate disclosures in Canada.
The Company sent over 1000 pages to appropriately respond to the ASC's comments. Upon receipt of these responses, the ASC indicated that it was pausing further review as a result of a pending action by the Enforcement Division of the ASC. The Company has been in negotiations with the ASC's Enforcement Division regarding purported breaches of the CTO. The ASC is currently proceeding with a Notice of Hearing against the Company.
Mr. Grant has chosen to step down from all positions within the Company. New management and directors shall be announced shortly.
"I am extremely proud of the new additions to the Board of Directors and Management. I am convinced this is a good move for the company because, as the roles of the management team expand, they will showcase their skills to the company and deliver for the shareholders. The new Board lineup and officer slate are strong," Grant says. "This had to happen to get us closer to getting the Cease Trade Order revoked. Once the CTO has been revoked, Canadians, who may know the promise of our properties best due to their closer proximity, will be able to purchase shares once again," he adds.
Former Chief Operating Officer Dan Finch and now-resigned Chief Executive Officer Glenn Grant were asked to rejoin Atacama in 2022. They made the decision to aim to get the Cease Trade Order revoked by meeting the ASC's requirements for revocation regardless of time, effort, and expense. They and the current management team felt the 2400+ shareholders deserved this management action.
Grant's resignation as Chairman and Director of the Atacama Board of Directors, and as CEO and President of the company, was made effective August 27, 2024. He is a major shareholder of the company.
Atacama Resources International remains committed to maintaining transparency, delivering shareholder value, and advancing its position as an innovative force in mineral exploration.
About Atacama Resources International (www.acrlintl.com)
Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, lithium, graphite, cobalt, and diamonds. Please visit the company's website at www.acrlintl.com for more information.
Forward-Looking Statements
Certain information outlined in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates, and projections about the Company's industry, management beliefs, and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise, and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports filed with OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
For more information, please contact Greg Praver, Chief Operating Officer, at (770) 733-3017.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221610
FAQ
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