TORONTO, April 18, 2023 /CNW/ – Voltage Metals Corp. (“Voltage” or the “Company”) (CSE: VOLT) (OTC: VLTMF) announces that on April 13, 2023, it applied to the Ontario Securities Commission as principal regulator, and its additional regulators, for approval of a temporary management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The Company did so in anticipation that it would be unable to file its annual financial statements, management’s discussion and analysis and the required certifications (the “Issuer Statements”) on or before the prescribed filing deadline of May 1, 2023.
If granted, the MCTO will prohibit trading in securities of the Company by its CEO and CFO and certain other insiders until the Issuer Statements are filed and the MCTO is lifted.
The issuance of an MCTO will generally not affect the ability of persons who are not or have not been management of the Company to trade in its securities.
The Company underwent a business combination transaction in its last financial year (the completion of which was previously announced on March 11, 2022), adding to the complexity of the audit of the Issuer Statements and contributing to the filing delay. The Company’s recent change of auditors has also contributed to the delay.
The Company expects to have the audit of the Issuer Statements completed no later than June 30, 2023.
The Company confirms that it will satisfy the provisions of the alternative information guidelines set out under Sections 9 and 10 of NP 12-203 until the Issuer Statements are filed.
About Voltage Metals
Voltage is a critical metals exploration and development company focused on Canadian projects near existing or past-producing mines.
Forward Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by management. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.