Announces Potential Delay IN Annual Filings and Application FOR Management Cease Trade Order
EARTHWORKS INDUSTRIES INC.
ANNOUNCES POTENTIAL DELAY IN ANNUAL
FILINGS AND APPLICATION FOR
MANAGEMENT CEASE TRADE ORDER
VANCOUVER, BC
,
March 19, 2026
/CNW/ - Earthworks Industries Inc. (TSXV: EWK) (OTCQB:
EAATF) (the
"Company"
) announces a potential delay and default in the completion of its Annual
Filings (as defined below), and the making of an application to the British Columbia Securities
Commission (the "
BCSC
"), as principal regulator, to approve a temporary management cease trade
order ("
MCTO
") under National Policy 12-203 –
Management Cease Trade Orders
("
NP 12-203
"). If
granted, the MCTO will prohibit trading in securities of the Company, whether direct or indirect, by
certain insiders of the Company, but will not restrict trading by other parties.
The Company anticipates that it may be unable to complete its annual filings for the financial year
ended November 30, 2025, which are comprised of its audited financial statements and related
annual management's discussion and analysis (
MD&A
) for the financial year ended November 30,
2025, as required under Part 4 and Part 5, respectively, of National Instrument 51
102 –
Continuous
Disclosure Obligations
, and related certifications of such filings by the Company's chief executive
officer and chief financial officer as required under Part 4 of National Instrument 52-109 –
Certification of Disclosure in Issuers' Annual and Interim Filings
(collectively, the "
Annual Filings
"),
by the filing deadline of March 30, 2026.
Although the Company is working diligently with its auditor, Crowe MacKay LLP ("
CM
"), the
Company is applying for the MCTO in anticipation of an expected delay in completion of the Annual
Filings due to unforeseen circumstances relating to the serious illness of the Company's Chief
Financial Officer, David Russell. As a result of this illness, Mr. Russell has been on medical leave
and has been unable to fulfill his responsibilities in connection with the preparation and finalization of
the Company's Annual Filings, which has disrupted the Company's financial reporting process and
delayed completion of its audit.
The Company is working diligently and expeditiously with CM in order to complete the Annual Filings
as soon as practicable and currently anticipates that it will be a position to remedy any filing default
and return to compliance by completing the Annual Filings within five weeks of the date of this news
release.
Until the Annual Filings are completed, the Company will comply with the alternative information
guidelines set out in NP 12
203, including by issuing bi-weekly default status reports by way of
further news releases.
The Company will provide a further announcement if the BCSC determines not to accept the
Company's application for an MCTO, or if the application for the MCTO is withdrawn.
About Earthworks Industries Inc.
Earthworks Industries Inc. is a publicly listed company focused on advancing innovative solutions
across the materials recovery and infrastructure value chain, with an emphasis on efficiency,
scalability, and long-term sustainability.
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) has approved nor disapproved the contents of this news
release, nor do they accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release constitute forward-looking statements or information
under Canadian securities legislation. Generally, forward-looking statements can be identified by the
use of forward-looking terminology such as "will", "expects", "anticipates" or variations of such words
and phrases or statements that certain actions, events or results "will" occur. In particular, forward-
looking statements in this release include statements regarding: the anticipated delay in the filing of
the Annual Filings; the anticipated timing for the filing of the Annual Filings; and the potential issuance
of the MCTO. Forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made and are subject to known and unknown risks, uncertainties
and other factors that may cause actual results to be materially different from those expressed or
implied by such forward-looking statements, including that the Annual Filings may not be completed
in the time anticipated and that the MCTO may not be issued, in which case a general cease trade
order may be issued with respect to the Company's securities. Although management of the
Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can 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. The Company cautions readers of this news release not to
place undue reliance on the forward-looking statements contained in this release as many factors
could cause actual results or conditions to differ materially from current expectations. Additional
information on these and other risk factors that could affect the Company's operations are outlined in
the Company's continuous disclosure documents that can be found on SEDAR+ (
www.sedarplus.ca
)
under the Company's issuer profile. The Company does not intend and disclaims any obligation,
except as required by law, to update or revise any forward-looking statements, whether because of
new information, future events, or otherwise.
SOURCE Earthworks Industries Inc.
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%SEDAR: 00008386E
For further information:
For further information contact: Earthworks Industries Inc., David
Atkinson, President/CEO, (604) 669-3143
CO: Earthworks Industries Inc.
CNW 09:00e 19-MAR-26