Company Announces Management Cease Trade Order
ALERIO GOLD ANNOUNCES MANAGEMENT CEASE TRADE ORDER
January 2, 2024 – VANCOUVER, BRITISH COLUMBIA – Alerio Gold Corp. (CSE: ALE; OTC: ALEEF) (“Alerio” or the “Company”) announces that it has been granted a temporary management cease trade order ("MCTO") under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12- 203"), which will prohibit trading securities of the Company by certain individuals until such time as the Required Filings (defined below) and all continuous disclosure requirements have been filed by the Company and the MCTO has been lifted.
While the MCTO is effective, all management, officers and directors of the Company will be prohibited from trading in the Company's securities, but the general public, who are not insiders of the Company, will continue to be able to trade in the Company's listed securities.
The Company expects it will be unable to file its audited financial statements for the year ended August 31, 2023, and the related management's discussion and analysis and Chief Executive Officer and Chief Financial Officer certificates for this period (collectively, the "Required Filings") before the December 29, 2023 filing deadline (the "Filing Deadline").
The Company's failure to file its Required Filings by the Filing Deadline is due to funding issues, resulting from a difficult fundraising market for junior exploration companies over the past nine months, which delayed commencement of the auditing process. The Company’s directors plan to fund the Company’s near-term capital needs, including the ongoing costs of the audit. As of the date of this news release, additional audit procedures are still required. The Company anticipates that it will be in a position to file the Required Filings on or about January 29, 2024. The MCTO will be in effect until the Required Filings are filed.
The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed. The Company will provide updates as further information relating to the Annual Financial Filings becomes available. The Company intends to satisfy the provision of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 as long as the Required Filings are outstanding.
About Alerio Gold Corp.
Alerio Gold is a mineral exploration and development company in the business of acquiring, and exploring gold properties, with a focus in Guyana, South America. The company currently has 100-per-cent interest in two properties located in Guyana S.A.
ON BEHALF OF THE BOARD OF DIRECTORS
“Allan Fabbro”
Allan Fabbro, CEO
For further information, please contact:
Geoff Balderson Chief Financial Officer, Secretary, and Director Telephone: 604-602-0001 Email: [email protected]
Forward Looking Statements
This news release contains certain forward-looking statements. The use of the word “expected”, “projected”, “pursuing”, “plans” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this news release include statements regarding the application for the MCTO and the completion of the Required Filings and the timing thereof. The forwardlooking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
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