BCSC Grants Canasil Management Cease Trade Order
Tel: 604-708 3788
Email: [email protected]
NEWS RELEASE TSX-V: CLZ
May 04, 2023 www.canasil.com
BCSC Grants Canasil Management Cease Trade Order
Vancouver, May 04, 2023 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “ Canasil” or the
“Company”) announced on April 27, 2023, that the Company had applied to the British Columbia Securities
Commission (the “BCSC”) for a temporary management cease trade order (the "MCTO") under National
Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The application was due to the expected
delay in filing the Company’s audited financial statements for the financial year ended December 31, 2022,
and the management's discussion and analysis and related Chief Executive Officer and Chief Financial
Officer certificates for this period (collectively, the " Required Filings ") before the May 1, 2023 , filing
deadline (the "Filing Deadline").
On May 3, 2023, the BCSC granted the temporary MCTO , which will prohibit trading in securities of the
Company by the chief executive officer and chief financial officer until such time as the Required Filings and
all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted.
During the period in which the MCTO is effective, the general public will continue to be able to trade in the
Company's listed securities.
The Company anticipates that it will be in a position to complete the Required Filings on or before June 15,
2023. The MCTO will be in effect until the Required Filings are completed. The Company intends to satisfy
the provisions of the alternative information guidelines set out in section 10 of NP 12 -203 so long as the
Required Filings are outstanding.
About Canasil
Canasil is a Canadian mineral exploration company with a portfolio of silver -gold-copper-lead-zinc
exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The
Company's directors and management include industry professionals with a track record of identifying and
advancing successful mineral exploration projects through to discovery and further development.
For further information, please visit the Company website at www.canasil.com or contact:
Bahman Yamini
President and CEO
Canasil Resources Inc.
Tel: (604) 708-3788
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 release.
Canasil Resources Inc.
News Release, May 04, 2023 page 2/2
Forward Looking Statements
This news release includes certain “forward -looking information” and “forward -looking statements”
(collectively forward-looking statements”) within the meaning of applicable Canadian securities legislation,
including regarding opportunities that are presented to the Company . All statements in this news release
that address events or developments that we expect to occur in the future are forward-looking statements.
All such forward-looking statements are based on the opinions and estimates of management as of the date
such statements are made. Forward -looking statements necessarily involve assumptions, risks and
uncertainties, certain of which are beyond Canasil’s control , including those described in the Company's
financial statements and management discussion and analysis (“MD&A”) available on www.sedar.com. The
list is not exhaustive of the factors that may affect Canasil’s forward-looking statements.
Canasil’s forward-looking statements are based on the applicable assumptions and factors management
considers reasonable as of the date hereof, based on the information available to management at such time.
Canasil does not assume any obligation to update forwar d-looking statements if circumstances or
management's beliefs, expectations or opinions should change other than as required by applicable law.
There can be no assurance that forward -looking statements will prove to be accurate, and actual results,
performance or achievements could differ materially from those expressed in, or implied by, these forward-
looking statements. Accordingly, no assurance can be given that any events anticipated by the forward -
looking statements will transpire or occur, or if any of them do, what benefits or liabilities Canasil will derive
therefrom. For the reasons set forth above, undue reliance should not be placed on forward -looking
statements.