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Altima Energy Inc. (TSXV: ARH,OTC:ARSLF) ("Altima" or the "Company") announces that the British Columbia Securities Commission issued a cease trade order against the Company effective September 3, 2025, as the Company has been unable to file its audited annual financial statements, management's discussion and analysis and related certifications in addition to its NI 51-101 Disclosure for Oil & Gas Activities for the financial year ended February 28, 2025 and for the first quarter for the period ended May 31, 2025 (collectively, the "Filings") due to continued technical issues resulting in the Company's accounting staff obtaining all the necessary documents for the Company's auditors to complete their work in respect of the audit of the Issuer Statements. As a result of the cease trade order, the TSX Venture Exchange (the "Exchange") suspended trading in the Company's securities on September 4, 2025.
The Company regrets this unnecessary delay in filing and the inconvenience to shareholders and is working with its auditors to file the Required Filings as soon as possible. It is expected that the Required Filings will be completed on or before the end of October 2025. The cease trade order will remain in place until such time as it is fully revoked following the filing of the Required Filings by the Company, in accordance with National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. Reinstatement to trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
The Company will make further announcements with respect to the status of the Required Filings as and when appropriate.
About Altima Energy Inc.
Altima Energy is a Vancouver-headquartered oil and gas exploration and production company with a strategic focus on unlocking the potential of hydrocarbon assets across North America. Committed to efficient resource development, Altima combines cutting-edge technology and industry expertise to drive operational excellence and deliver sustainable growth. With a focus on long-term value creation, Altima is dedicated to enhancing returns for its shareholders while maintaining a disciplined approach to asset management.
ON BEHALF OF THE BOARD
SIGNED: "Richard Barnett"
Richard Barnett; CFO
Email: info@altimaenergy.com
T: 1-604-336-8610
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain information set out in this news release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the timing of filing of the Company's Required Filings. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis under the heading "Risk and Uncertainties", a copy of which is filed on SEDAR+, at www.SEDARplus.ca, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265443
