TVI Pacific Announces Application FOR Management Cease Trade Order
TVI PACIFIC ANNOUNCES APPLICATION FOR MANAGEMENT CEASE
TRADE ORDER
CALGARY, ALBERTA - TVI Pacific Inc. (TSX-V: TVI; OTC Pink: TVIPF) (" TVI" or the
"Company") announced today an anticipated delay in the filing of its Required Filings (as defined below)
and application to the Alberta Securities Commission 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 by certain insiders of the Company, whether
direct or indirect.
The Company has determined that it will be unable to fulfill certain requirements of National Instrument
51-102 – Continuous Disclosure Obligations ("NI 51-102"), including the requirement of the Company to
file and deliver its interim financial statemen ts for the quarter ende d March 31, 2023 (the " Interim
Financial Statements ") (under Sections 4.4 and 4.6(3) of NI 51-102, respectively), and the associated
MD&A (the " Interim MD&A " and, together with the Interim Financial Statements, the " Interim
Required Filings ") (under Sections 5.1(2) and 5.6(1) of NI 51-102, respectively) and related officer
certifications contemplated under Part 4 of National Instrument 52-109 – Certification of Disclosure in
Issuers' Annual and Interim Filings (the "Officer Certifications and together with the Interim Required
Filings, the " Required Filings"), by May 30, 2023, which is the f iling deadline for the Interim Filings
applicable under NI 51-102.
The principal reason for the delay was the inability of the Company's external auditors to complete the audit
for the financial year ended December 31, 2022, as a result of late receipt of certain financial information
from and delay in the completion of the aud it of TVI Resource Development Phils, Inc. (" TVIRD"), a
Philippines corporation in which the Company holds a 30.66% joint venture interest and which is a
diversified mining company that focuses on the acqui sition, exploration, deve lopment and production of
resource projects in the Philippines. As a result, th e Company was delayed in filing its annual filings
required under NI 51-102 until May 15, 2023 and, in turn, it will be unable to file the Required Filings by
the applicable filing deadlines. The Company remains confident in its ability to complete the Required
Filings, but requires a brief extension and has theref ore applied for an MCTO. The Company anticipates
that it will be in a position to remedy the default and return to compliance by filing the Required Filings on
or before June 15, 2023.
The Company intends to satisfy the provisions of the alternative information guidelines set out in Sections
9 and 10 of NP 12-203 so long as the required filings are outstanding, including the issuance of bi-weekly
default status reports, each of which will be issued in the form of a news release.
Except as previously announced by the Company, there have not been any material business developments
since May 15, 2023 (being the date of the Annual Financial Statements filed by the Company with various
securities regulatory authorities in Canada).
TSX-V: TVI OTC Pink: T V I P F M a y 1 9 , 2 0 2 3
N E W S R E L E A S E
About TVI Pacific Inc.
TVI Pacific Inc. is a Canadian resource company focused on mining projects in the Philippines, one of the
most prolifically mineralized countries in the world. TVI currently holds a 30.66% equity interest in
TVIRD, a Philippines corporation. Through TVIRD, TVI has ownership in a currently producing gold mine
and is focused on bringing on-stream the Siana gold mine at which equipment has been rehabilitated and
commissioning of the plant has commenced in line with TVIRD’s plan to restart operations.
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this News Release constitutes forward-looking information. Forward-looking
statements are often, but not always, identified by the use of words such as "se ek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe",
"scheduled", "to be", "will be" and similar expressions. Forward-looking statements in this News Release
are based upon the opinions and expectations of management of the Company as at the effective date of
such statements. Although the Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it c an give no assurance that those expectations will
prove to have been correct. Forward-looking stat ements are subject to certain risks and uncertainties
(known and unknown) that could cause actual outcomes to differ materially from those anticipated or
implied by such forward-looking statements. Forward-looking statements in this News Release include, but
are not limited to, TVI's objectives and intentions in respect of completion of the Interim Required Filings
and the anticipated timing of the filing thereof.
Forward-looking statements are based upon the opinions and expectations of management of the Company
as at the effective date of such statements and, in certain cases, information supplied by third parties.
Although the Company believes the expectations reflected in such forward-looking statements are based
upon reasonable assumptions and that information receive d from third parties is reliable, it can give no
assurance that those expectations will prove to have been correct. Forward-looking statements are subject
to certain risks and uncertainties that could cause actu al events or outcomes to differ materially from
those anticipated or implied by such forward-looking statements. These factors include, but are not limited
to, such things as changes in general economic c onditions in the Philippines and elsewhere; litigation,
legislative, environmental and other judicial, regulatory, political and competitive developments; delay or
failure to receive board, shareholder or regulatory approvals; the ability of the Company's external
auditors to complete their audit in the Philippines; the receipt of financial information from TVIRD and
timing thereof for required completion of the Interim Required Filings; those additional risks set out in
TVI's public documents filed on SEDAR www.SEDAR.com; and other matters discussed in News Release.
Accordingly, readers should not place undue reliance upon the forward-looking statements contained in
this News Release and such forward-looking statem ents should not be interpreted or regarded as
guarantees of future outcomes.
The forward-looking statements contained in this News Release are made as of the date hereof and the
Company does not undertake any obligation to update or to revise any of the included forward-looking
statements, except as required by applicable securiti es laws in force in Cana da. The forward-looking
statements contained herein are expressly qualified by this cautionary statement.
Neither 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.
Contact Information:
Patrick Hanna
Chief Financial Officer
TVI Pacific Inc.
Phone: 403-265-4356
E-mail: [email protected]
www.tvipacific.com