Notice of Default Update
MOJAVE GOLD CORP. (CSE: MOJ) has defaulted on its obligation to file interim financial statements for the period ending November 30, 2020, due January 29, 2021. As a result, a Management Cease Trade Order was issued on December 30, 2020, limiting trading for certain insiders. The Company plans to comply with the alternative information guidelines specified under National Policy 12–203 by issuing bi-weekly Default Status Reports until the required filings are made. There are no material changes in the default announcement, and no further defaults are anticipated.
- The Company has a plan to issue bi-weekly Default Status Reports to comply with regulatory requirements.
- No material changes to the information regarding the default have been reported.
- Failure to file interim financial statements on time may signal operational or financial difficulties.
- The Management Cease Trade Order restricts trading for certain insiders, potentially impacting investor confidence.
VANCOUVER, British Columbia, Feb. 12, 2021 (GLOBE NEWSWIRE) -- MOJAVE GOLD CORP. (the “Company”) (CSE: MOJ) did not file its interim financial statements and management’s discussion & analysis for the fiscal 3 month period ended November 30, 2020, by the filing deadline of January 29, 2021, and as a result is in default of its obligations under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations.
The Company has requested from the applicable Canadian securities regulators that a management cease trade order related to the Company's securities be imposed against some or all of the persons who have been directors, officers or insiders of the Company. A Management Cease Trade Order was issued on December 30, 2020. This order does not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the Company's securities.
The Company intends to satisfy the alternative information guidelines set out National Policy 12–203 Cease Trade Orders for Continuous Disclosure Default by filing bi-weekly Default Status Reports, as required, until such time as the financial statements and MD&A are filed.
The Company advises that there are no material changes to the information contained in the default announcement or particulars of the failure, and there is no material information concerning the affairs of the Company that has not been generally disclosed. The Company does not anticipate any subsequent defaults under National Instrument 51-102 Continuous Disclosure Obligations.
For further information, contact Greg Bronson at grbronson@gmail.com
On behalf of the Board of
MOJAVE GOLD CORP.
Greg Bronson,
CEO & Director
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FAQ
What is the reason for MOJGF's default on financial statements?
What is the impact of the Management Cease Trade Order on MOJGF?
How is MOJGF planning to address the default situation?
Has MOJGF disclosed any material information that could impact its shareholders?
