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Tuesday, 05 May 2026 04:30 PM
Topic: Company Update
Totec Resources Adopts Semi-Annual
Reporting
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / May 5, 2026 / Totec Resources Ltd. ("Totec"
or the "Company") (TSXV:TOTC), announces that it has elected to rely on
Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting
for Certain Venture Issuers (the "Order") and move to semi-annual financial
reporting ("SAR").
The Order allows eligible venture issuers listed on the TSX Venture Exchange (the
"TSXV") to voluntarily move from a quarterly to a semi-annual financial reporting
framework. The Company's fiscal year ends on March 31. Under the SAR pilot
program, the Company will be exempt from filing interim financial reports and
related Management's Discussion & Analysis (MD&A) for its first and third quarters.
Interim Period: The Company will not file an interim report for the first quarter
(Q1) ending June 30 and the third quarter (Q3) ending December 31; and
Ongoing Reporting: The Company will continue to file audited financial
statements (due within 120 days of March 31) and six-month interim financial
reports (due within 60 days of September 30).
The Company confirms it meets the pilot program's eligibility criteria, which include
being a venture issuer with annual revenues of less than $10 million, having a
disclosure record of over 12 months and having fi led all required periodic and timely
continuous disclosure documents.
The fi rst period for which the Company will not fi le an interim fi nancial report and
related MD&A will be for the three-month period ended June 30, 2026.
The Company further announces the voting results from its annual general and
special meeting (the "Meeting") of shareholders of the Company (the
"Shareholders"), held on March 6, 2026.
All resolutions presented to the Shareholders were approved. Each of the
resolutions are explained in detail in the Management Information Circular, which
is available under the Company's SEDAR+ profile at www.sedarplus.ca.
A total of 3,366,168 common shares, representing approximately 8.71% of the
Company's outstanding common shares, were voted in person and by proxy at the
Meeting. Shareholders voted in favour of the following:
1. Setting the number of directors at four;
2. Electing the following directors: Deepak Varshney, James Walker, Zachary
Kotowych and Rishi Kwatra;
3. Appointing Davidson & Company LLP as the auditor of the Company for the
ensuing year; and
4. Adopting a new long-term incentive plan.
The Company would like to thank the Shareholders for their participation and
continuing support.
About Totec Resources Ltd.
Totec is a listed company on the TSX Venture Exchange under the symbol TOTC;
and Frankfurt Stock Exchange (FSE) under the ticker symbol UOZ0. The Company's
principal business activities include the acquisition and exploration of mineral
property assets.
For further information, please contact:
Deepak Varshney, CEO and Director Telephone: 778-899-1780
Forward-Looking Statements and Disclaimers
This release includes certain statements and information that may constitute
forward-looking information within the meaning of applicable Canadian securities
laws. Forward-looking statements relate to future events or future performance
and reflect the expectations or beliefs of management of the Company regarding
future events. Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as "intends" or
"anticipates", or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "should", "would" or "occur".
This information and these statements, referred to herein as "forward-looking
statements", are not historical facts, are made as of the date of this news release
and include without limitation, statements regarding the Company's plans to
develop its resources and create shareholder value.
In making the forward-looking statements in this news release, the Company has
applied certain material assumptions, including without limitation, that the
Company will successfully advance the development of its resources and that such
efforts will result in creating shareholder value.
These forward-looking statements involve numerous risks and uncertainties, and
actual results might differ materially from results suggested in any forward-
looking statements. These risks and uncertainties include, among other things,
that the Company will not advance the development of its resources and that the
Company will not create shareholder value.
Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, 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. Accordingly, readers should not place undue reliance on forward-
looking statements and forward-looking information.
Readers are cautioned that reliance on such information may not be appropriate
for other purposes. The Company does not undertake to update any forward-
looking statement, forward-looking information or financial outlook that are
incorporated by reference herein, except in accordance with applicable securities
laws. We seek safe harbor.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in
policies of the TSXV) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE: Totec Resources Ltd.
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