Element79 Provides Bi-Weekly MCTO Status Update
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Element79 Provides Bi-Weekly MCTO Status Update
Vancouver January 19, 2023 – Element79 Gold Corp. ( CSE:ELEM) (OTC:ELMGF) (FSE:7YS) ("Element79 Gold", the
"Company") s providing a bi-weekly default status update in accordance with National Policy 12-203 – Management
Cease Trade Orders (“NP 12-203”)
In a press release dated January 3, 2023, the Company announced (the “Default Announcement”) that it submitted an
application to the British Columbia Securities Commission (the “BCSC”), the Company’s principal regulator, for a
management cease trade order (“MCTO”) in connection with the Company’s delay in filing its audited annual financial
statements for the year ended August 31, 2022, and the management's discussion and analysis and related CEO and
CFO certificates for the period (collectively, the “Required Documents”) which were required to be filed on or before
December 29, 2022.
The MCTO was issued by the BCSC on January 4, 2023. It prevents the Company’s President and Chief Financial
Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the
public, to trade in the securities of the Company.
The MCTO remains in effect until the Company files the Required Documents and the BCSC’s Executive Director
has revoked the MCTO. The Company anticipates that it will file the Required Documents on or before February 17,
2023. The Company confirms that since the date of the Default Announcement, other than as described above: (a)
there has been no material change to the information set out in the Default Announcement that has not been generally
disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the
provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated
to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there
is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms that it will continue to satisfy the provisions of the alter native information guidelines under
NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains delayed
in filing the Required Documents.
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
Email: [email protected]
F
or investor relations inquiries, please contact:
Investor Relations Department
Phone: +1 (604) 200-3608
Email: [email protected]
Press release January 19, 2023
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The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward -looking information” under Canadian
securities le gislation. Generally, forward -looking information can be identified by the use of forward -
looking terminology such as “expects”, “anticipates”, “will be”, “intends” or variations of such words and
phrases or statements that certain actions, events, or results “will” occur. Forward -looking statements
regarding the Company and its business and strategies are based on the Company’s estimates and are subject
to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company and its subsidiaries to be materially different from
those expressed or implied by such forward- looking statements or forward -looking information, including
capital expenditures and other costs. There ca n be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward- looking statements and forward -looking
information. The Company will not update any forward-looking statements or forward-looking information
that are incorporated by reference herein, except as required by applicable securities laws