Opawica Explorations granted MCTO from B.C. regulator
2022-01-14 17:23 ET – News Release
Mr. Blake Morgan reports
OPAWICA PROVIDES DEFAULT STATUS REPORT PER NATIONAL POLICY 12-203
Opawica Explorations Inc., further to its Dec. 30, 2021, news release regarding its application for a management cease trade order (MCTO) under National Policy 12-203 Management Cease Trade Orders, has received approval from the British Columbia Securities Commission (BCSC) as of Dec. 30, 2021.
In the default announcement, the company announced that it had filed an application seeking the MCTO from the BCSC because the company was unable to file its annual financial statements for the year ended Aug. 31, 2021, including the related management’s discussion and analysis and certifications from the chief executive officer and chief financial officer prior to the filing deadline of Dec. 29, 2021. The delay in filing the annual filings is due to unforeseen internal delays in the completion of the company’s audit of its annual financial statements. The company changed its auditor to Crowe Mackay LLP and continues to work diligently and expeditiously with Crowe Mackay to file the annual filings as soon as possible. The company expects to file the annual filings on or before Jan. 28, 2022.
The MCTO restricts all trading in securities of the company by the chief executive officer and chief financial officer of the company until the MCTO is no longer in effect. The MCTO will be in effect until the annual filings are filed and requires that they be filed on or before Feb. 28, 2022.
The company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing of the company’s latest interim financial report.
The company confirms that since the date of the default announcement: (i) there has been no material changes to the information set out in the default announcement that has not been generally disclosed; (ii) the company is satisfying and intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203; (iii) there has not been any other specified default by the company under NP 12-203; and (iv) there is no material information concerning the affairs of the company that has not been generally disclosed.
About Opawica Explorations Inc.
Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec and in central Newfoundland and Labrador. The company’s management has a great record in discovering and developing successful exploration projects. The company’s objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders.
We seek Safe Harbor.
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