Search Minerals Announces Revocation of Cease Trade Order
Search Minerals Inc. (TSXV: SMY) announced the revocation of its cease trade order (CTO) by the British Columbia Securities Commission (BCSC), effective March 27, 2025. The CTO was initially issued on April 8, 2024, due to the company's failure to file its 2023 annual financial statements and related documents by the March 31, 2024 deadline.
The BCSC had previously amended the CTO with a partial revocation order on September 6, 2024, allowing the company to complete a private placement. Search Minerals subsequently filed its 2023 financial documents on November 20, 2024, followed by additional required continuous disclosure documents on December 20, 2024, to comply with National Instrument 51-102 requirements.
The company is currently working with the TSX Venture Exchange to reinstate trading of its shares.
Search Minerals Inc. (TSXV: SMY) ha annunciato la revoca del suo ordine di cessazione del commercio (CTO) da parte della British Columbia Securities Commission (BCSC), con effetto dal 27 marzo 2025. Il CTO era stato inizialmente emesso l'8 aprile 2024 a causa del mancato invio da parte dell'azienda dei propri bilanci finanziari annuali 2023 e dei documenti correlati entro la scadenza del 31 marzo 2024.
La BCSC aveva precedentemente modificato il CTO con un'ordinanza di revoca parziale il 6 settembre 2024, consentendo all'azienda di completare un collocamento privato. Search Minerals ha successivamente presentato i propri documenti finanziari del 2023 il 20 novembre 2024, seguiti da ulteriori documenti di divulgazione continua richiesti il 20 dicembre 2024, per conformarsi ai requisiti del National Instrument 51-102.
L'azienda sta attualmente collaborando con il TSX Venture Exchange per ripristinare il commercio delle proprie azioni.
Search Minerals Inc. (TSXV: SMY) anunció la revocación de su orden de cese de operaciones (CTO) por parte de la British Columbia Securities Commission (BCSC), efectiva a partir del 27 de marzo de 2025. El CTO se emitió inicialmente el 8 de abril de 2024, debido a que la compañía no presentó sus estados financieros anuales de 2023 y documentos relacionados antes de la fecha límite del 31 de marzo de 2024.
La BCSC había modificado previamente el CTO con una orden de revocación parcial el 6 de septiembre de 2024, permitiendo a la empresa completar una colocación privada. Search Minerals presentó posteriormente sus documentos financieros de 2023 el 20 de noviembre de 2024, seguidos de documentos adicionales de divulgación continua requeridos el 20 de diciembre de 2024, para cumplir con los requisitos del National Instrument 51-102.
La empresa está trabajando actualmente con el TSX Venture Exchange para restablecer la negociación de sus acciones.
Search Minerals Inc. (TSXV: SMY)는 브리티시컬럼비아 증권위원회(BCSC)로부터 거래 중지 명령(CTO)이 2025년 3월 27일부로 해제되었다고 발표했습니다. CTO는 2024년 4월 8일에 발행되었으며, 이는 회사가 2024년 3월 31일 마감일까지 2023년 연간 재무제표 및 관련 문서를 제출하지 않았기 때문입니다.
BCSC는 2024년 9월 6일 CTO를 부분적으로 해제하는 명령으로 수정하였으며, 이를 통해 회사는 사모 배정을 완료할 수 있었습니다. Search Minerals는 이후 2024년 11월 20일에 2023년 재무 문서를 제출하였고, 2024년 12월 20일에는 National Instrument 51-102 요구 사항을 준수하기 위해 추가적으로 필요한 지속적 공시 문서를 제출하였습니다.
회사는 현재 TSX 벤처 거래소와 협력하여 자사의 주식 거래를 재개하려고 하고 있습니다.
Search Minerals Inc. (TSXV: SMY) a annoncé la révocation de son ordre de cessation de négociation (CTO) par la British Columbia Securities Commission (BCSC), effective à partir du 27 mars 2025. Le CTO avait été initialement émis le 8 avril 2024 en raison du non-respect par l'entreprise de la date limite du 31 mars 2024 pour soumettre ses états financiers annuels 2023 et les documents connexes.
La BCSC avait précédemment modifié le CTO par un ordre de révocation partielle le 6 septembre 2024, permettant à l'entreprise de réaliser un placement privé. Search Minerals a ensuite déposé ses documents financiers de 2023 le 20 novembre 2024, suivis de documents de divulgation continue supplémentaires requis le 20 décembre 2024, afin de se conformer aux exigences de l'Instrument national 51-102.
L'entreprise travaille actuellement avec la TSX Venture Exchange pour rétablir la négociation de ses actions.
Search Minerals Inc. (TSXV: SMY) gab bekannt, dass die British Columbia Securities Commission (BCSC) ihre Handelsstoppverfügung (CTO) mit Wirkung zum 27. März 2025 aufgehoben hat. Die CTO wurde ursprünglich am 8. April 2024 erlassen, da das Unternehmen es versäumt hatte, seine Jahresfinanzberichte 2023 und die zugehörigen Dokumente bis zur Frist am 31. März 2024 einzureichen.
Die BCSC hatte die CTO zuvor am 6. September 2024 mit einer teilweisen Aufhebungsanordnung geändert, die es dem Unternehmen ermöglichte, eine Privatplatzierung abzuschließen. Search Minerals reichte anschließend am 20. November 2024 seine Finanzdokumente für 2023 ein, gefolgt von weiteren erforderlichen fortlaufenden Offenlegungsdokumenten am 20. Dezember 2024, um den Anforderungen des National Instrument 51-102 zu entsprechen.
Das Unternehmen arbeitet derzeit mit der TSX Venture Exchange zusammen, um den Handel mit seinen Aktien wiederherzustellen.
- Cease trade order has been fully revoked by BCSC
- Company has become compliant with all required financial filings
- Successfully obtained partial revocation allowing private placement completion
- Company faced trading suspension due to failure to file required financial documents on time
- Trading remains suspended on TSX Venture Exchange pending reinstatement approval
St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - March 28, 2025) - Search Minerals Inc. (TSXV: SMY) ("Search Minerals" or the "Company") announced today that the cease trade order (the "CTO") issued by the British Columbia Securities Commission (the "BCSC") has been revoked effective March 27, 2025.
The CTO was issued by the BCSC on April 8, 2024, as a result of the Company's failure to file its annual financial statements, related management's discussion and analysis and certifications for the year ended November 30, 2023 ("2023 Filings") on or before March 31, 2024, as required under National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102"). As announced in the Company's news release dated September 9, 2024, the BCSC amended the CTO and issued a partial revocation order dated September 6, 2024, permitting the Company to complete a private placement transaction.
The Company filed the 2023 Filings on SEDAR+ on November 20, 2024. On December 20, 2024, the Company filed certain additional required continuous disclosure documents to bring its disclosure obligations up to date with the requirements of NI 51-102 and has continued to meet the requirements of NI 51-102 thereafter. These documents are available under the Company's SEDAR+ profile at www.sedarplus.ca.
The Company continues to work with the TSX Venture Exchange on a reinstatement of trading and will update the market as matters progress.
For further information about Search Minerals, please contact:
Joseph Lanzon
CEO and Director
Telephone: 613-796-5957
Email: joseph.lanzon@searchminerals.ca
About Search Minerals
Search Minerals is focused on exploring for and developing Critical Rare Earths Elements (CREE) as well as transition metals Zirconium (Zr) and Hafnium (Hf) within the emerging Port Hope Simpson - St. Lewis CREE District of South East Labrador. The Company controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other CREE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 kilometer long belt forming a CREE District in Labrador.
Search Minerals also controls additional CREE assets in the Red Wine CREE District of central Labrador. These include: the drill ready Two Tom Lake CREE-Be-Nb deposit, the Mann #1 CREE-Nb-Be prospect and Merlot CREE Prospect.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, if and when the trading of the Company's common shares will be reinstated, next steps and courses of action. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this news release are based on certain material assumptions and involve, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Search Minerals to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, those factors discussed in Search Minerals' public filings. Although Search Minerals has attempted to identify important factors that could affect Search Minerals and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the Company's Management's Discussion and Analysis filed with certain Canadian securities regulators, which are available at www.sedarplus.ca. Except as required by law, Search Minerals does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this news release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246511
FAQ
When was the cease trade order for Search Minerals (TSXV: SMY) revoked?
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