Altan Nevada Provides Bi-Weekly MCTO Status Update
Vancouver, BC – May 17, 2021 – Altan Nevada Minerals Limited ("Altan Nevada" or the "Company") (TSXV: ANE) is providing this bi-weekly update on the status of the management cease trade order granted on May 4, 2021 (the "MCTO") under National Policy 12-203 – Management Cease Trader Orders ("NP 12- 203") as announced on May 5, 2021 (the "Default Announcement"). The MCTO was granted following the Company's application to the applicable securities regulatory authorities once it was determined it was not in a position to file its audited annual financial statements for the year ended December 31, 2020, the related management's discussion and analysis and the related CEO and CFO certificates (collectively, the "Documents") before the required deadline of April 30, 2021. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
The Company confirms that the annual audit is ongoing, and the Company continues to expect to file the Documents on or before May 25, 2021. The Company continues to work closely with its auditor to remedy the default status and file the Documents as soon as possible.
The Company confirms that since the date of the Default Announcement: (i) there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "proposed" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Such forward-looking information are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. In particular, this release contains forward-looking information relating to the anticipated filing of the Documents. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
For more information contact:
Paul Stephen, CEO Email: [email protected] +61 9322 1788
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.