Announces Late Filing of Annual Financial Statements and Management Cease Trade Order
TORONTO - Gold\'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company" or "Gold'n Futures") announces today that, as a result of delays in completing its audit, the Company may be unable to file its annual financial statements and accompanying management's discussion and analysis for the fiscal year ended December 31, 2024 (collectively, the "Annual Filings") by the prescribed filing deadline under Part 4 of National Instrument 51-102 - Continuous Disclosure Obligations. The delay in commencing the audit process was principally due to the Company's financial constraints, which had resulted in outstanding fees owing to its external auditor in respect to the prior year's audit. As a result, the Company was unable to engage its auditor to commence the audit for the current year. The Company has recently secured the necessary funds to satisfy the outstanding obligations and has now re-engaged its auditor, Stern & Lovrics LLP ("Stern & Lovrics"), to proceed with the audit. The Company is working diligently with Stern & Lovrics to complete the audit and expects to file the Annual Filings as soon as practicable. The Company currently expects to file the Annual Filings on or before June 30, 2025, and will issue a news release announcing the completion of such filings at that time. In the interim, the Company will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders. These guidelines require the Company to issue bi-weekly default status reports by way of news release for so long as the Annual Filings remain outstanding.
During the management cease trade order (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 Financial Officer will be subject to a trading prohibition in accordance with the terms of the MCTO and will not be permitted to trade in the Company's securities until the Annual Filings are filed and the MCTO is lifted.
Hercules Option Agreement
The Company further announced, that the Hercules-Elmhurst Property Option Agreement entered into between the Company and Argonaut Gold Inc. ("Argonaut"), dated October 15, 2020 and as amended on September 26, 2022, July 28, 2023, and February 14, 2024 (the "Option Agreement"), has been terminated. As a result, the Option Agreement is of no further force or effect, and all rights to the Hercules-Elmhurst Property have reverted to Alamos (as successor company to Argonaut). The Company will not earn any interest in the Property and has no entitlement to reimbursement of expenditures.
About Gold'n Futures Mineral Corp.
Gold'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC: GFTRF) is a mineral exploration company conducting programs to expand its gold resources and to develop viable gold mining operations through the application of extensive geological experience and knowledge combined with advanced technologies and computer modeling.
On behalf of the Board of Directors
Vicki Rosenthal
Chief Financial Officer
Email: matt@fishpurdy.com
Ph: 905-781-8786
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
Certain information contained in this news release may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking information is often identified by the use of words such as "plans," "expects," "may," "should," "could," "will," "intends," "anticipates," "believes," "estimates," "forecasts," or variations of such words and phrases, including the negative forms thereof, as well as terms such as "pro forma" and "scheduled," and similar expressions that refer to future events or outcomes.
Forward-looking statements in this release, including, without limitation, statements relating to the anticipated timing, review, completion, and filing of the Annual Filings, the Company's ongoing operations, and the expected duration of the MCTO, involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated.
Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking information contained herein, except as required by applicable securities laws.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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