Element79 Provides MCTO Status Update and Filing of its Annual Financial Statements

Element79 Provides MCTO Status Update and Filing of its Annual Financial Statements

Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) ("Element79 Gold", the "Company") provides an update with respect to the previously announced Management Cease Trade Order (the "MCTO") issued by the British Columbia Securities Commission on January 4, 2023. The Company is providing notice in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The MCTO was issued by the BCSC on January 4, 2023. It prevents the Company’s President and Chief Financial Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the public, to trade in the securities of the Company.

The Company Confirms that as of today it has completed and filed its audited annual financial statements for the year ended August 31, 2022, and the management's discussion and analysis and related CEO and CFO certificates for the period which were required to be filed on or before December 29, 2022. The Company further acknowledges that the interim Financial statements for the interim period ended November 30, 2022, and the management's discussion and analysis and related CEO and CFO certificates (collectively, the “Required Documents”) due to have been filed on January 30, 2023 are to be filed prior to the MCTO revocation process.

The MCTO remains in effect until the Company files the Required Documents and the BCSC’s Executive Director has revoked the MCTO. The Company 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 Company 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 Company that has not been generally disclosed.

The Company 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

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

Email: jt@element79gold.com

For investor relations inquiries, please contact:

Investor Relations Department
Phone: +1 (604) 200-3608
Email: investors@element79gold.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “will be”, “intends” or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward-looking statements regarding the Company and its business and strategies are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its subsidiaries to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws

Source

ELEM:CC
The Conversation (0)
Gold bars rest on overlapping Canadian banknotes, including denominations of 5, 10, 50, and 100 dollars.

Boroo Plans C$1.5 Billion Investment to Restart Yukon’s Eagle Gold Mine

Singapore-based Boroo has agreed to acquire Victoria Gold Corp. for up to C$140 million and plans to invest more than C$1.5 billion in the Eagle Gold Mine in Yukon, according to a Thursday (October 22) news release.The company will invest in environmental remediation, mine restart activities and... Keep Reading...
Gold bars on scale over red digital currency background. Text reads "Weekly Editor's Picks."

Editor's Picks: Gold Price Slips Below US$4,000, Expert Says US$3,600 Could be Next

It was a week of downward momentum for gold, which tumbled from above US$4,100 per ounce to below US$4,000 by the end of the period. Silver took a hit as well, sinking from close to US$58 per ounce to below US$54. Those prices represent important levels for both metals. Investors tend to focus... Keep Reading...
Gold bars arranged in rows.

Russia’s Gold Reserves Hit Lowest Level Since 2019

Russia’s gold reserves continued to shrink in September, with central bank holdings falling by approximately 62 metric tons since December 2025. The country’s gold holdings declined by 6.2 metric tons last month to approximately 2,264 metric tons, reaching their lowest level since 2019,... Keep Reading...
A gold house-shaped puzzle piece stands on a plain light gray background.

Infographic: A New US Home Now Costs Under 100 Ounces of Gold

From late 2025 through mid-2026, a median-priced new US home cost less than 100 ounces of gold in every quarter, the first time that’s happened since data collection began in 1963. The previous low came in 1980, at the end of gold’s 1970s run, when the figure bottomed out at exactly 100... Keep Reading...
The Brazilian flag on a green background overlays numerous gold bars; text reads: FINE GOLD 999.9 NET WT 1000g.

Belo Sun’s Volta Grande Gold Project License Temporarily Suspended

Belo Sun Mining (TSX:BSX,OTCQB:BSXGF) is in the midst of another legal challenge at its Volta Grande gold project in Brazil, where the Supreme Court has temporarily suspended the installation license pending approval of a settlement agreement.In a Wednesday (October 21) news release, the company... Keep Reading...
Craig Tindale, mining truck.

Craig Tindale: Gold's New Era — Prepare Now for System Reset

Private investor and Substack newsletter writer Craig Tindale shares his thoughts on recent and potential future actions from the US Department of the Treasury, explaining their impact on the bond market, national debt and ultimately the gold sector. "I think we're heading into a very... Keep Reading...

Interactive Chart

Latest Press Releases

Related News