Green River Gold Corp. Requests Management Cease Trade Order to Allow for Finalization of Pending Annual Financial Statements and Management's Discussion and Analysis
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) has requested a temporary Management Cease Trade Order (MCTO) from the Alberta Securities Commission due to delays in filing its annual financial statements for the year ended September 30, 2024. The delay is attributed to increased business complexity from expansion into placer mining operations and the CEO's health issues, which affected the completion of a $900,000 convertible debenture financing and delayed audit fee payments.
The company expects to close the financing around February 11, 2025, and anticipates completing the audit within 6-8 weeks thereafter. The Annual Filings were originally due by January 28, 2025, but the company now aims to file by March 28, 2025. During this period, management and insiders are subject to a trading black-out. The company confirms no undisclosed material information since its last interim financial report filed on August 29, 2024.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) ha richiesto un'ordinanza temporanea di cessazione delle negoziazioni (MCTO) alla Alberta Securities Commission a causa di ritardi nella presentazione dei propri bilanci annuali per l'anno conclusosi il 30 settembre 2024. Il ritardo è attribuito all'aumento della complessità aziendale dovuta all'espansione nelle operazioni di estrazione di minerali e ai problemi di salute dell'amministratore delegato, i quali hanno influito sul completamento di un finanziamento tramite obbligazioni convertibili da 900.000 dollari e hanno ritardato i pagamenti delle spese di audit.
L'azienda prevede di chiudere il finanziamento intorno all'11 febbraio 2025 e si aspetta di completare l'audit entro 6-8 settimane successivamente. Le presentazioni annuali erano originariamente dovute entro il 28 gennaio 2025, ma ora l'azienda mira a presentarle entro il 28 marzo 2025. Durante questo periodo, la direzione e gli insider sono soggetti a un divieto di negoziazione. L'azienda conferma di non avere informazioni materiali non divulgate dalla sua ultima relazione finanziaria intermedia presentata il 29 agosto 2024.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) ha solicitado una Orden de Cese de Comercio de Gestión (MCTO) temporal a la Comisión de Valores de Alberta debido a retrasos en la presentación de sus estados financieros anuales para el año que finalizó el 30 de septiembre de 2024. El retraso se atribuye a la mayor complejidad empresarial derivada de la expansión en operaciones de minería aluvial y a problemas de salud del CEO, que afectaron la finalización de un financiamiento de deuda convertible de $900,000 y retrasaron los pagos de tarifas de auditoría.
La empresa espera cerrar el financiamiento alrededor del 11 de febrero de 2025 y anticipa completar la auditoría dentro de 6 a 8 semanas después. Las presentaciones anuales se debían originalmente para el 28 de enero de 2025, pero ahora la empresa planea presentar para el 28 de marzo de 2025. Durante este período, la gerencia y los internos están sujetos a un bloqueo de operaciones. La empresa confirma que no hay información material no divulgada desde su último informe financiero interino presentado el 29 de agosto de 2024.
그린 리버 골드 주식회사 (CSE: CCR) (OTC Pink: CCRRF)는 2024년 9월 30일 종료 연도의 연간 재무제표 제출 지연으로 인해 알버타 증권 위원회에 임시 경영 중단 명령(MCTO)을 요청했습니다. 지연은 플레서 채굴 작업으로의 확장으로 인해 증가한 비즈니스 복잡성 및 CEO의 건강 문제에 기인하며, 이는 900,000달러 규모의 전환 사채 금융 완료에 영향을 미쳤고 감사 수수료 지급을 지연시켰습니다.
회사는 2025년 2월 11일경에 금융 거래를 마감할 것으로 예상하며, 그 후 6-8주 이내에 감사 완료를 예상하고 있습니다. 연간 제출물은 원래 2025년 1월 28일까지 예정되었으나, 이제 회사는 2025년 3월 28일까지 제출할 계획입니다. 이 기간 동안 경영진 및 내부자는 거래 정지 조치의 적용을 받습니다. 회사는 2024년 8월 29일 제출된 마지막 중간 재무 보고서 이후로 공개되지 않은 중대한 정보가 없음을 확인합니다.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) a demandé une ordonnance temporaire de cessation de négociation (MCTO) à la Commission des valeurs mobilières de l'Alberta en raison de retards dans la soumission de ses états financiers annuels pour l'année se terminant le 30 septembre 2024. Le retard est attribué à une complexité commerciale accrue due à l'expansion dans les opérations de minage de placer et à des problèmes de santé du PDG, qui ont affecté l'achèvement d'un financement par obligation convertible de 900 000 $ et retardé les paiements des frais d'audit.
L'entreprise s'attend à clore le financement autour du 11 février 2025 et prévoit de finaliser l'audit dans les 6 à 8 semaines qui suivent. Les dépôts annuels devaient initialement être soumis d'ici le 28 janvier 2025, mais l'entreprise vise désormais à les soumettre d'ici le 28 mars 2025. Pendant cette période, la direction et les initiés sont soumis à une interdiction de négociation. L'entreprise confirme qu'aucune information matérielle non divulguée n'a été fournie depuis son dernier rapport financier intermédiaire déposé le 29 août 2024.
Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) hat bei der Alberta Securities Commission eine vorübergehende Management Trading-Stopp-Anordnung (MCTO) beantragt, aufgrund von Verzögerungen bei der Einreichung ihrer Jahresabschlüsse für das am 30. September 2024 endende Jahr. Die Verzögerung wird auf die steigende Geschäftskomplexität durch die Expansion in die Placer-Mining-Operationen sowie auf Gesundheitsprobleme des CEO zurückgeführt, die den Abschluss einer Wandelanleihefinanzierung in Höhe von 900.000 $ sowie die Zahlungen der Prüfungsgebühren beeinflussten.
Das Unternehmen erwartet, die Finanzierung rund um den 11. Februar 2025 abzuschließen und rechnet damit, die Prüfung innerhalb von 6-8 Wochen danach zu beenden. Die Jahresunterlagen sollten ursprünglich bis zum 28. Januar 2025 eingereicht werden, aber das Unternehmen strebt nun an, sie bis zum 28. März 2025 einzureichen. In diesem Zeitraum unterliegt das Management sowie Insider einem Handelsverbot. Das Unternehmen bestätigt, dass seit dem letzten interimsfinanziellen Bericht, der am 29. August 2024 eingereicht wurde, keine nicht offengelegten wesentlichen Informationen vorliegen.
- Expected completion of $900,000 convertible debenture financing by February 11, 2025
- Business expansion into new placer mining operations
- Delayed filing of annual financial statements beyond statutory deadline
- Temporary trading restrictions on management pending MCTO approval
- Outstanding audit fees from previous year
- Operational delays due to CEO health issues
Edmonton, Alberta--(Newsfile Corp. - February 6, 2025) - Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company") announces that it has requested a temporary Management Cease Trade Order ("MCTO") from the Alberta Securities Commission ("ASC") in connection with the Company's filing of its audited annual financial statements, management's discussion and analysis and the applicable CEO and CFO certifications in respect of such filings for the financial year ended September 30, 2024 (collectively the "Annual Filings").
The Company's financial statements have significantly increased in complexity over the last year due to the Company's expansion into a new line of business, physically mining one of its placer mining claims. The Company is requesting the MCTO in order to secure additional time for the Company's auditors to complete the audit of the financial statements for the year ended September 30, 2024. The Company plans to arrive at the proper accounting treatment for the new business and ensure that it meets with the approval of our auditors. The default was caused by the increased complexity of the business along with some health issues, now largely resolved, encountered by our CEO at very inopportune times. The health issues led to delays in completing the Company's announced
Accordingly, the Company has applied to the ASC for the MCTO that will prohibit the management of the Company from trading in the securities of the Company until such time as the Annual Filings are filed. No decision has yet been made by the ASC on this application. The ASC may grant the application and issue the MCTO or it may impose an issuer cease trade order if the Annual Filings are not filed in a timely fashion.
The Company notes that:
- The Company is required to file its September 30, 2024 Annual Filings by January 28, 2025 (the "Filing Deadline"), as required pursuant to National Instrument 51-102 - Continuous Disclosure Obligations. At this time the Company is uncertain as to whether it will be able to complete its Annual Filings on or before the Filing Deadline.
- The Company and its auditors are working diligently to prepare and file the Annual Filings, on or before March 28, 2025.
- The Company confirms that, other than as disclosed in prior press releases, there is no material information concerning the affairs of the Company that has not been generally disclosed since the filing on August 29, 2024 of the Company's latest interim financial reports for the three and nine months ended June 30, 2024 & 2023.
- Until the Company has filed the Annual Filings, members of the Company's management and other insiders are subject to an insider trading black-out.
- During the period of default and until filing of the Annual Filings, the Company intends to satisfy the provisions of the alternative information guidelines as required by National Policy 12-203 Management Cease Trade Orders.
- The Company is not subject to any insolvency proceedings.
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly-owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometres and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometres west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239957
FAQ
Why did Green River Gold Corp (CCRRF) request a Management Cease Trade Order in February 2025?
When will CCRRF complete its delayed annual financial statements filing?
What is the value of CCRRF's pending convertible debenture financing?
What new business expansion caused CCRRF's financial reporting complexity?
When was CCRRF's original deadline for filing its 2024 annual financial statements?
