TVI Announces Late Filing of Annual Financial Disclosure
TVI ANNOUNCES LATE FILING OF ANNUAL
FINANCIAL DISCLOSURE
CALGARY, AB
,
April 23, 2025
/CNW/ - TVI Pacific Inc. ("
TVI
" or the "
Corporation
") (TSX.V: TVI)
(OTC: TVIPF) today announces that the filing of its audited annual financial statements,
management's discussion and analysis and related CEO and CFO certifications for the financial year
ended
December 31, 2024
(the "
Required Filings
"), will be delayed beyond the filing deadline of
April 30, 2025
, and as a result it will be in default of its obligations under Part 4 of National
Instrument 51-102
Continuous Disclosure Obligations
. The delay in the completion of the Required
Filings is as a result of unforeseen delays by the local auditor of TVI in
the Philippines
. The delay
caused by the local auditor means the auditor of TVI has not received all of the information that it
requires in order to complete the audit of the Corporation's financial statements for the year ended
December 31, 2024
.
The Corporation has made an application to the Alberta Securities Commission (the "
ASC
") for a
management cease trade order (the "
MCTO
"), which would restrict all trading in securities of the
Corporation, whether direct or indirect, by management of the Corporation. The MCTO does not
generally affect the ability of shareholders who are not insiders of the Corporation to trade their
securities. There is no certainty that the MCTO will be granted.
The Corporation is working expeditiously with its auditor, Davidson & Company LLP, and the local
auditor in
the Philippines
, PwC Philippines, to complete the audit as soon as possible. TVI plans to
remedy the default and file the Required Filings as soon as it is able to do so and expects such filing
to occur on or prior to May 31, 2025. The Corporation also intends to satisfy the provisions of the
alternate information guidelines of Section 10 of National Policy 12-203
Management Cease Trade
Orders
as long as it is in default of the filing requirements.
The Corporation confirms that there are no insolvency proceedings against it as of the date of this
press release. The Corporation also confirms that there is no other material information concerning
the affairs of the Corporation that has not been generally disclosed as of the date of this press
release.
About TVI
TVI is a Canadian resource company focused on mining projects in
the Philippines
. TVI maintains a
strong presence in
the Philippines
through its 30.66% equity interest in TVIRD, a
Philippines
corporation.
Forward-Looking Statements
Certain statements in this news release are "forward-looking statements", which reflect
management's expectations regarding the issuance of the MCTO, timing of the filing of the
Required Filings and TVI's future business operations. All statements other than statements of
historical fact contained in this news release are forward-looking statements. Such forward-looking
statements involve risks and uncertainties, as they reflect management's current beliefs and are
based on information currently available to management. Actual results may differ materially from
those anticipated in the statements made. The forward-looking statements are expressly qualified
in their entirety by this cautionary statement. The forward-looking statements are made as of the
date of this news release and TVI assumes no obligation to update or revise them to reflect new
events or circumstances except as expressly required by applicable securities law. Further
information regarding the uncertainties and risks can be found in the disclosure documents filed by
TVI with the securities regulatory authorities, available at
www.sedarplus.ca
.
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 press release.
SOURCE
TVI Pacific Inc.
View original content:
http://www.newswire.ca/en/releases/archive/April2025/23/c8636.html
%SEDAR: 00001837E
For further information:
For more information, please contact: Michael G. Regino, Chief Executive
Officer, Email: [email protected]
CO: TVI Pacific Inc.
CNW 12:55e 23-APR-25