In This Article:
AZARGA METALS CORP. ("Azarga Metals" or the "Corporation") (TSXV:AZR) provides an update with respect to the previously announced management cease trade order (the "MCTO") issued by the British Columbia Securities Commission (the "BCSC") on January 29, 2025. The Corporation is providing this notice in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The MCTO was issued by the BCSC on January 29, 2025. It prevents the Corporation's Officers, Board and Insiders from trading in the Corporation's securities but does not affect the ability of other shareholders, including the public, to trade in the securities of the Corporation.
The Corporation confirms that as of today, all funds payable to the auditor have been made and the preparation and audit of the Corporation's annual financial statements for the year ended September 30, 2024, along with the management's discussion and analysis and related CEO and CFO certificates (the "Required Records") for the period, which were required to be filed on or before January 28, 2025, are near completion.
As previously stated, subject to current conditions remaining the same, the Corporation remains confident in its ability to complete and file the Required Records on or before March 31, 2025, and will make its best efforts to complete the process within the timeline indicated.
The MCTO remains in effect until the Corporation files the Required Records and the BCSC's Executive Director has revoked the MCTO. The Corporation confirms that since the date of the Default Announcement, other than as described above: (a) there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (b) there has been no failure by the Corporation 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 specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.
The Corporation confirms that it will continue to satisfy 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 delayed.
Gordon Tainton,
President and Chief Executive Officer