Cerrado Gold Provides Update on Cease Trade Order and Announces Resultant Possible Late Filing of Q1 Interim Financial Statements and MCTO Application

Cerrado Gold Provides Update on Cease Trade Order and Announces Resultant Possible Late Filing of Q1 Interim Financial Statements and MCTO Application

Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is providing an update on the status of the cease trade order (the "CTO") imposed on May 7, 2024, the Ontario Securities Commission (the "OSC"), under National Policy 11-207, following the Company's failure to file its audited annual financial statements for the year ended December 31, 2023, its management's discussion and analysis of financial statements for the year ended December 31, 2023, its annual information form for the year ended December 31, 2023, and related filings (collectively, the "Required Annual Filings"). Under National Instrument 51-102, the Required Annual Filings were required to be made by April 29, 2024

Management of the Company continues to work diligently with its auditors to complete the Required Annual Filings, at which time it expects the CTO to be lifted within two days following filing. The Company expects the Required Annual Filings to be completed on or around May 31, 2024.

There is no material information concerning the affairs of the Company that has not been generally disclosed.

As a result of the delay in filing the Required Annual Filings, the Company expects that it will be unable to file its interim financial statements for the three months ended March 31, 2024, its management's discussion and analysis of financial statements for the three months ended March 31, 2024, and related filings (collectively, the "Required Interim Filings") by the May 31, 2024 filing deadline.

The Corporation has applied to the OSC for a management cease trade order (an "MCTO") in respect of the delay in filing of the Required Interim Filings.

If the MCTO is granted, the Company will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Required Interim Filings have not been filed. During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Officer, Chief Financial Officer, and Directors will not be able to trade in the Company's common shares.

The Company will provide an update on its application of the MCTO in an upcoming news release.

The Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release. The Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings. The Company is not subject to any insolvency proceedings and there is no material information concerning the affairs of the Company that has not been generally disclosed.

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the 100% owner of both the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina, and the highly prospective Monte Do Carmo development project, located in Tocantins State, Brazil. In Canada, Cerrado Gold is developing it's 100% owned Mont Sorcier Iron Ore and Vanadium project located outside of Chibougamou, Quebec.

In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias Heap Leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.

In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium project, which has the potential to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces contributing to the decarbonisation of the industry and the achievement of SDG goals.

For more information about Cerrado please visit our website at: www.cerradogold.com.

Mark Brennan
CEO and Chairman

Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
mmcallister@cerradogold.com

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado and the completion and filing of the Annual Filings. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

SOURCE: Cerrado Gold Inc.



View the original press release on accesswire.com

News Provided by ACCESSWIRE via QuoteMedia

CERT:CA
The Conversation (0)
Cerrado Gold Announces Filing of Circular and Provides Update

Cerrado Gold Announces Filing of Circular and Provides Update

Proxy related materials filed in relation to annual and special meeting of shareholders scheduled for June 27Audited annual financial statements expected to be completed this weekThird advance of US$7 million under the Signing Loan with subsidiary of Hochschild Mining PLC ("Hochschild") to be... Keep Reading...
Cerrado Gold Povides Update on Cease Trade Order

Cerrado Gold Povides Update on Cease Trade Order

Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is providing this update on the status of the cease trade order (the "CTO") imposed on May 7, 2024 by its principal regulator, the Ontario Securities Commission (the "OSC"), under National Policy 11-207, following the... Keep Reading...
Cerrado Gold Announces Failure To File Cease Trade Order

Cerrado Gold Announces Failure To File Cease Trade Order

Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") announces that the Ontario Securities Commission (the "OSC") has issued a failure to file cease trade order ("FFCTO") prohibiting the trading by any person of any securities of the Company in CanadaThe FFCTO was issued as a... Keep Reading...
Cerrado Gold Announces Receipt of Second Advance Under Secured Loan From Subsidiary of Hochschild Mining PLC

Cerrado Gold Announces Receipt of Second Advance Under Secured Loan From Subsidiary of Hochschild Mining PLC

US$1 million received as second advance of Signing Loan under option agreement with Hochschild Mining Plc ("Hochschild").Total of US$8 million received with remaining US$7 million expected to be advanced in June.Funds received to-date addressed short-term capital needs in Argentina and will... Keep Reading...
Cerrado Gold Announces Q1 Gold Production Results for Its Minera Don Nicolas Mine in Argentina

Cerrado Gold Announces Q1 Gold Production Results for Its Minera Don Nicolas Mine in Argentina

Calandrias Norte production in March driving improved production growth.Focus for 2024 remains on delivering strong cash flow and rebuilding the balance sheet with exploration focused on mine life extension.Management currently developing a longer-term production plan for Argentina.Cerrado Gold... Keep Reading...
Graphic reading "Top 5 Canadian mining stocks this week" in front of stock market graph in background.

Top 5 Canadian Mining Stocks This Week: JZR Gold Jumps 113 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The Government of Ontario started taking applications for resource development projects under... Keep Reading...
Nevgold President, CEO and Director Brandon Bonifacio.

NevGold Discovers “Highest-grade” Antimony Drilled to Date at Nevada Project

With grades of up to 14.9 percent, NevGold's (TSXV:NAU,OTCQX:NAUFF) newly discovered Bullet zone within the Resurrection Ridge target area is the highest-grade antimony ever drilled to date at the company’s Limo Butte project in Nevada, according to NevGold’s president and CEO, Brandon... Keep Reading...
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
Golden bars background with a rising green arrow; text: "Weekly Editor's Picks."

Editor's Picks: Gold Price Breaks US$4,300, Silver Soars Past US$54

It's been yet another historic week for gold and silver, with both setting new price records.The yellow metal broke through US$4,200 per ounce and then continued on past US$4,300. It rose as high as US$4,374.43 on Thursday (October 16), putting its year-to-date gain at about 67 percent.... Keep Reading...
Don Durrett, gold and silver bars.

Don Durrett: Gold, Silver Miners to Rip Even Higher, Here's When to Buy

Don Durrett of GoldStockData.com outlines current gold and silver market dynamics, explaining why the metals continue to rise and how high they could go in the future. He also shares his current gold and silver stock strategy. Don’t forget to follow us @INN_Resource for real-time... Keep Reading...
Prince Silver (CSE:PRNC)

Prince Silver Corp Announces Listing on the Frankfurt Stock Exchange Under the Symbol T130

Prince Silver Corp. ("Prince" or the "Company") (CSE:PRNC)(OTCQB:PRNCF) is pleased to announce that its common shares can now be traded on the Frankfurt Stock Exchange ("FSE") under the symbol T130, WKN: A3E4QS and ISIN: CA74174A1021.With this listing, the Company's common shares are now quoted... Keep Reading...

Latest Press Releases

Related News