Altima Announces Delay in Filing Audited Annual Financial Statements and Management's Discussion and Analysis
Altima Energy (TSXV: ARH) has announced a delay in filing its audited annual financial statements, management's discussion and analysis, and related certifications for the fiscal year ended February 28, 2025. The delay is attributed to technical issues affecting the company's ability to provide necessary documentation to auditors.
The British Columbia Securities Commission (BCSC) has issued a management cease trade order, allowing continued trading of common shares by non-insiders. Altima expects to complete and file the required documents by August 29, 2025. The company will issue bi-weekly default status reports until the situation is resolved.
Altima Energy (TSXV: ARH) ha annunciato un ritardo nella presentazione dei suoi bilanci annuali certificati, della discussione e analisi della gestione e delle relative certificazioni per l'esercizio chiuso al 28 febbraio 2025. Il ritardo è dovuto a problemi tecnici che hanno compromesso la capacità dell'azienda di fornire la documentazione necessaria ai revisori.
La British Columbia Securities Commission (BCSC) ha emesso un ordine di sospensione delle negoziazioni per la gestione, consentendo comunque la continuazione delle negoziazioni delle azioni ordinarie da parte di soggetti non interni. Altima prevede di completare e presentare i documenti richiesti entro il 29 agosto 2025. L'azienda pubblicherà rapporti sullo stato di default ogni due settimane fino alla risoluzione della situazione.
Altima Energy (TSXV: ARH) ha anunciado un retraso en la presentación de sus estados financieros anuales auditados, el análisis y discusión de la gerencia, y las certificaciones relacionadas para el año fiscal terminado el 28 de febrero de 2025. El retraso se atribuye a problemas técnicos que afectan la capacidad de la empresa para proporcionar la documentación necesaria a los auditores.
La Comisión de Valores de Columbia Británica (BCSC) ha emitido una orden de suspensión comercial para la gerencia, permitiendo la continuación del comercio de acciones comunes por parte de personas no internas. Altima espera completar y presentar los documentos requeridos antes del 29 de agosto de 2025. La empresa emitirá informes quincenales sobre el estado de incumplimiento hasta que se resuelva la situación.
Altima Energy (TSXV: ARH)는 2025년 2월 28일 종료된 회계연도에 대한 감사받은 연간 재무제표, 경영진 토의 및 분석, 관련 인증서 제출이 지연될 것이라고 발표했습니다. 지연 사유는 회사가 감사인에게 필요한 문서를 제공하는 데 기술적인 문제가 발생했기 때문입니다.
브리티시컬럼비아 증권위원회(BCSC)는 경영진에 대한 거래 중지 명령을 내렸으나, 내부자가 아닌 자의 보통주 거래는 계속 허용하고 있습니다. Altima는 2025년 8월 29일까지 필요한 문서 제출을 완료할 것으로 예상하며, 상황이 해결될 때까지 격주로 지연 상태 보고서를 발행할 예정입니다.
Altima Energy (TSXV : ARH) a annoncé un retard dans le dépôt de ses états financiers annuels audités, de l’analyse de gestion et des certifications associées pour l'exercice clos le 28 février 2025. Ce retard est dû à des problèmes techniques affectant la capacité de l'entreprise à fournir les documents nécessaires aux auditeurs.
La British Columbia Securities Commission (BCSC) a émis un ordre de cessation de négociation pour la direction, tout en autorisant la poursuite des échanges d'actions ordinaires par des personnes non initiées. Altima prévoit de compléter et de déposer les documents requis d'ici le 29 août 2025. La société publiera des rapports bimensuels sur l'état de défaut jusqu'à résolution de la situation.
Altima Energy (TSXV: ARH) hat eine Verzögerung bei der Einreichung seiner geprüften Jahresabschlüsse, des Managementberichts und der zugehörigen Zertifizierungen für das am 28. Februar 2025 endende Geschäftsjahr bekannt gegeben. Die Verzögerung ist auf technische Probleme zurückzuführen, die die Fähigkeit des Unternehmens beeinträchtigen, den Prüfern die erforderlichen Unterlagen bereitzustellen.
Die British Columbia Securities Commission (BCSC) hat eine Handelsstopp-Anordnung für das Management erlassen, erlaubt jedoch weiterhin den Handel mit Stammaktien durch Nicht-Insider. Altima erwartet, die erforderlichen Dokumente bis zum 29. August 2025 fertigzustellen und einzureichen. Das Unternehmen wird bis zur Lösung der Situation alle zwei Wochen Berichte zum Status des Verzugs veröffentlichen.
- None.
- Failure to meet regulatory filing deadline for annual financial statements
- Implementation of management cease trade order by BCSC
- Two-month delay expected for completion of required filings
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - Altima Energy Inc. (TSXV: ARH) ("Altima" or the "Company") announces that it has been unable to file its audited annual financial statements, management's discussion and analysis and related certifications in addition to its NI 51-101 Disclosure for Oil & Gas Activities (the "Issuer Statements"), for the financial year ended February 28, 2025 on or before the filing deadline of June 30, 2025, as a result of technical issues resulting in the Company's accounting staff obtaining all the necessary documents for the Company's auditors to complete their work in respect of the audit of the Issuer Statements.
Upon application by the Company, the British Columbia Securities Commission ("BCSC") today has issued a management cease trade order under the provisions of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") so as to permit the continued trading in the Company's common shares by persons other than insiders and employees of the Company. The Company's finance and accounting teams are working diligently with its auditors, and the Company expects to have the audit of the Issuer Statements completed, and the Issuer Statements filed, on or around August 29, 2025.
The Company confirms that it intends to satisfy the provisions of NP 12-203 and issue bi-weekly default status reports for so long as the Company remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Company to remedy the default, particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of the Company requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed. The Company is not subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Company that has not been generally disclosed.
On behalf of the Board of Directors,
Altima Energy Inc.
"Richard Barnett"
Director & Chief Financial Officer
Telephone: (604) 336-8610
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Information
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the timing of filing of the Company's Required Filings, and Company's compliance with the MCTO and NP 12-203. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended February 28, 2025, related management's discussion and analysis, and related certifications for the financial year ended February 28, 2025. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis under the heading "Risk and Uncertainties", a copy of which is filed on SEDAR Plus, at www.SEDARplus.ca, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257629
FAQ
Why did Altima Energy (TSXV: ARH) fail to file its 2025 annual financial statements?
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