Casa Minerals Inc. Provides Bi-Weekly MCTO Status Update
Rhea-AI Summary
Casa Minerals (OTCQB: CASXF) provided a bi-weekly update on its management cease trade order (MCTO) related to delayed audited financial statements for the year ended December 31, 2025. The company expects to file the required annual filings by May 31, 2026 and reports no new material information or additional defaults.
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On the day this news was published, CASXF gained 58.35%, reflecting a significant positive market reaction.
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Vancouver, British Columbia--(Newsfile Corp. - May 15, 2026) - Casa Minerals Inc. (TSXV: CASA) (OTCQB: CASXF) (FSE: 0CM) (the "Company" or "Casa") is providing it's management cease trade order ("MCTO") bi-weekly default status report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
As previously announced in the Company's news release dated May 1, 2026 (the "MCTO News Release"), the Company applied for and obtained a MCTO in respect of its audited financial statements for the year ended December 31, 2025, together with management's discussion and analysis and the related Chief Executive Officer and Chief Financial Officer certificates (the "Annual Filings"). The Company and its auditors continue to work diligently to complete the Annual Filings and expect to file them on or before May 31, 2026.
The Company confirms that as of the date herein, (a) there has been no material change to the information set out in the MCTO News Release that has not been generally disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any other specified default by the Company under NP 12-203; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements.
Contact Information
Farshad Shirvani
Chief Executive Officer
Phone: (604) 678-9587
Email: company@casaminerals.com
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release constitute forward-looking statements or information under Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "will", "expects", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, forward-looking statements in this release include statements regarding: the anticipated timing for the filing of the Annual Filings; and the ability of the Company to comply with the requirements of NP12-203. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including that the Annual Filings may not be completed in the time anticipated or allowed for by the MCTO, in which case a general cease trade order may be issued with respect to the Company's securities. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained in this release as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company's operations are outlined in the Company's continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. The Company does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297700