Vancouver – TheNewswire – February 13, 2025
Element79 Gold Corp. Provides Default Status Update
Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS), also known as Element79 Gold, is a company that is currently under a management cease trade order (MCTO) from the British Columbia Securities Commission (BCSC). This order was issued due to the company’s delay in filing its audited annual financial statements for the year ended August 31, 2024, as well as its management’s discussion and analysis and related CEO and CFO certificates.
Previous Announcements
In previous releases, Element79 Gold announced that it had been granted the MCTO by the BCSC, its principal regulator. The company was required to file the Required Documents by December 30, 2024, but failed to do so.
As a result of the MCTO, Element79 Gold is providing biweekly default status updates in compliance with National Policy 12-203 – Management Cease Trade Orders (NP 12-203). This update is intended to keep investors and stakeholders informed about the company’s current situation.
Element79 Gold is working diligently to complete and file the Required Documents as soon as possible to resolve the MCTO and resume normal trading activities. The company is committed to transparency and accountability in its financial reporting and will continue to update shareholders on its progress.
Impact on Individuals
If you are an investor or stakeholder in Element79 Gold, the MCTO may have an impact on your investments. It is important to stay informed about the company’s progress in resolving the default status and to consider how this situation may affect your decision-making regarding your holdings in Element79 Gold.
Global Implications
The default status of Element79 Gold could have broader implications for the world economy, as it reflects the challenges faced by companies in meeting regulatory requirements and maintaining transparent financial practices. Investors and regulators around the world may take note of this situation and its outcomes as they consider their own investment decisions and regulatory policies.
Conclusion
Element79 Gold’s default status is a reminder of the importance of timely and accurate financial reporting in the corporate world. The company’s efforts to address the MCTO and resume normal trading activities demonstrate its commitment to upholding best practices in financial transparency and governance. As Element79 Gold works to resolve this issue, investors and stakeholders can monitor the company’s progress and make informed decisions about their involvement with the company.
