TVI Granted Management Cease Trade Order
Calgary, May 1, 2025 - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) ("TVI" or the "Corporation"), did not file its audited annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the financial year ended December 31, 2024 (the "Required Filings") by the filing deadline of April 30, 2025, and as a result is in default of its obligations under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations.
As previously announced on April 23, 2025 (the "Announcement"), the Corporation applied to the Alberta Securities Commission (the "ASC") for a management cease trade order (the "MCTO"), which would restrict all trading in securities of the Corporation, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Corporation. The ASC issued the MCTO on May 1, 2025. The MCTO does not generally affect the ability of shareholders who are not insiders of the Corporation to trade their securities.
The Corporation and its auditor continue to work diligently toward completing the Required Filings and expect to remedy the default by filing the Required Filings on or before May 31, 2025.
The Corporation confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Corporation is satisfying and confirms that it intends to continue to satisfy the provisions of the "alternative information guidelines" under National Policy 12-203 Management Cease Trade Orders ("NP 12-203") and issue bi-weekly default status reports for so long as the delay in filing the Required Filings is continuing, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the Corporation under NP 12-203; (iv) the Corporation is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Corporation that has not been generally disclosed.
About TVI
TVI is a Canadian resource company focused on mining projects in the Philippines. TVI maintains a strong presence in the Philippines through its 30.66% equity interest in TVIRD, a Philippines corporation.
For more information, please contact:
Michael G. Regino
Chief Executive Officer
Email: Michael.Regino@tvird.com.ph
Forward-Looking Statements
Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding the issuance of the MCTO, timing of the filing of the Required Filings and TVI's future business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and TVI assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by TVI with the securities regulatory authorities, available at www.sedarplus.ca.
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 press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250562
