Silver Storm Provides Bi-Weekly MCTO Status Update
Silver Storm Mining (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) has provided a bi-weekly update on its management cease trade order (MCTO) issued on July 30, 2024. The company is delayed in filing its annual financial statements and interim financial statements due to complexities associated with the La Parrilla assets acquisition. The British Columbia Securities Commission has extended the deadline for Annual Filings to September 27, 2024, which the company expects to meet. Interim Filings are anticipated within five business days of completing the Annual Filings. The MCTO does not affect public trading of the company's securities. Silver Storm confirms no material changes since the initial announcement and continues to comply with Alternative Information Guidelines.
Silver Storm Mining (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) ha fornito un aggiornamento bisettimanale sul suo ordine di cessazione del commercio da parte della gestione (MCTO) emesso il 30 luglio 2024. L'azienda è in ritardo nella presentazione dei propri bilanci annuali e bilanci intermedi a causa delle complessità associate all'acquisizione degli asset di La Parrilla. La British Columbia Securities Commission ha esteso la scadenza per le presentazioni annuali al 27 settembre 2024, che l'azienda prevede di rispettare. Le presentazioni intermedie sono attese entro cinque giorni lavorativi dalla conclusione delle presentazioni annuali. L'MCTO non influisce sulla negoziazione pubblica dei titoli della società. Silver Storm conferma che non ci sono cambiamenti materiali dalla prima comunicazione e continua a rispettare le Linee Guida per le Informazioni Alternative.
Silver Storm Mining (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) ha proporcionado una actualización quincenal sobre su orden de cese de operaciones de la administración (MCTO) emitido el 30 de julio de 2024. La empresa se ha retrasado en la presentación de sus estados financieros anuales y estados financieros interinos debido a las complejidades asociadas con la adquisición de los activos de La Parrilla. La Comisión de Valores de Columbia Británica ha extendido la fecha límite para las Presentaciones Anuales hasta el 27 de septiembre de 2024, que la empresa espera cumplir. Las Presentaciones Interinas se anticipan dentro de los cinco días hábiles posteriores a la finalización de las Presentaciones Anuales. El MCTO no afecta la negociación pública de los valores de la empresa. Silver Storm confirma que no ha habido cambios materiales desde el anuncio inicial y continúa cumpliendo con las Directrices de Información Alternativas.
실버 스톰 마이닝 (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR)은 2024년 7월 30일에 발행된 경영 중단 거래 명령 (MCTO)에 대한 격주 업데이트를 제공했습니다. 이 회사는 라 파리야 자산 인수와 관련된 복잡성으로 인해 연간 재무 제표 및 중간 재무 제표 제출이 지연되고 있습니다. 브리티시컬럼비아증권위원회는 연간 제출 마감일을 2024년 9월 27일로 연장했으며, 회사는 이를 준수할 것으로 예상하고 있습니다. 중간 제출은 연간 제출이 완료된 후 5영업일 이내에 실시될 예정입니다. MCTO는 회사 증권의 공개 거래에 영향을 미치지 않습니다. 실버 스톰은 초기 발표 이후 실질적인 변화가 없다고 확인하며, 대체 정보 지침을 준수하고 있습니다.
Silver Storm Mining (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) a fourni une mise à jour bi-hebdomadaire concernant son ordre de cessation de négociation de la direction (MCTO) émis le 30 juillet 2024. L'entreprise accuse un retard dans le dépôt de ses états financiers annuels et états financiers intermédiaires en raison des complexités associées à l'acquisition des actifs de La Parrilla. La British Columbia Securities Commission a prolongé la date limite pour les dépôts annuels jusqu'au 27 septembre 2024, une échéance que l'entreprise prévoit de respecter. Les dépôts intermédiaires sont attendus dans les cinq jours ouvrables suivant l'achèvement des dépôts annuels. Le MCTO n'affecte pas la négociation publique des titres de la société. Silver Storm confirme qu'il n'y a eu aucun changement matériel depuis l'annonce initiale et continue de se conformer aux Lignes Directrices sur l'Information Alternative.
Silver Storm Mining (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR) hat ein zweiwöchentliches Update zu seiner Management-Handelsstoppverordnung (MCTO), die am 30. Juli 2024 erlassen wurde, bereitgestellt. Das Unternehmen hat Verzögerungen bei der Einreichung seiner Jahresabschlüsse und Zwischenabschlüsse aufgrund der Komplexität im Zusammenhang mit der Akquisition der La Parrilla-Assets. Die British Columbia Securities Commission hat die Frist für die Jahresberichte auf den 27. September 2024 verlängert, die das Unternehmen voraussichtlich einhalten wird. Die Zwischenberichte werden innerhalb von fünf Werktagen nach Abschluss der Jahresberichte erwartet. Der MCTO hat keinen Einfluss auf den öffentlichen Handel der Unternehmensaktien. Silver Storm bestätigt, dass es seit der ursprünglichen Ankündigung keine wesentlichen Änderungen gegeben hat und weiterhin die Richtlinien für alternative Informationen einhält.
- Extension granted for Annual Filings deadline to September 27, 2024
- Company expects to meet the extended filing deadline
- MCTO does not affect public trading of company securities
- Delay in filing Annual and Interim Financial Statements
- Ongoing complexities with La Parrilla assets acquisition affecting accounting and audit process
- Management Cease Trade Order (MCTO) in effect until all required filings are completed
As a result of the delay in filing the Annual Filings, the Company was unable to file its unaudited interim financial statements, related management's discussion and analysis and CEO and CFO certifications for the three months ended June 30, 2024 (the “Interim Filings”, and together with the Annual Filings, the “Required Documents”). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than August 29, 2024.
As previously disclosed, due to certain complexities associated with the acquisition of the La Parrilla assets, the accounting and audit process remains ongoing at this time. The BCSC has given the Company until September 27, 2024 to complete its Annual Filings, which the Company anticipates being in a position to meet. The Company expects the Interim Filings to be filed within five business days of the Annual Filings once completed. The MCTO will remain in effect until two full business days following the receipt by the BCSC of all filings the Company is required to make under
The Company confirms that, other than as described above, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default with its Required Documents; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Documents; (iii) the Company confirms as of the date of this news release, that there is no insolvency proceeding against it; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the MCTO and expectations relating thereto.
In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company´s financial condition and development plans do not change because of unforeseen events. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the Company is unable to achieve its goal of placing La Parrilla back into production; market conditions and volatility and global economic conditions including increased volatility and potentially negative capital raising conditions resulting from the continued or escalation of the COVID-19 pandemic, risk of delay and/or cessation in planned work or changes in the Company’s financial condition and development plans employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour, the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining, including the Mexican mining reforms; risks relating to environmental regulation and liability; the possibility that results will not be consistent with the Company’s expectations; risks relating to completion of the annual audit in a timely manner.
Such forward-looking information represents best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240912895785/en/
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
info@silverstorm.ca
Source: Silver Storm Mining Ltd.
FAQ
Why did Silver Storm Mining (SVRSF) receive a management cease trade order?
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Does the MCTO affect public trading of Silver Storm Mining (SVRSF) shares?
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