Athabasca Minerals Announces Cease Trade Order
May 11, 2023
Edmonton, Alberta--(Newsfile Corp. - May 11, 2023) - Athabasca Minerals Inc. (TSXV: AMI) ("AMI" or the "Corporation") announces that the Alberta and Ontario Securities Commissions have issued a Failure-to-File Cease Trade Order ("FFCTO") with respect to the Corporation's securities due to the Corporation's inability to file its audited annual financial statements and corresponding management's discussion and analysis (collectively, the "Financial Documents") for the year ended December 31, 2022, as required by National Instrument 51-102.
As previously announced on May 01, 2023 the Corporation has experienced unexpected delays due to the complexity of its US acquisition, corporate restructuring and management changes. However, the Corporation is working diligently and expeditiously with its auditors and expects to file the Financial Documents by May 19, 2023.
ABOUT ATHABASCA MINERALS INC.
Athabasca Minerals is an integrated industrial minerals company focused on the production and delivery of frac sand to Canada and the United States. Athabasca also operates aggregate operations in Western Canada and maintains the largest platform for buying, selling and transporting of aggregates through its 100% owned technology platform, AMI RockChain.
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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 release.
Certain information herein constitutes "forward-looking information" as defined under Canadian securities laws which reflect management's expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the Corporation. The words "plans", "expects", "does not expect", "scheduled", "estimates", "intends", "anticipates", "does not anticipate", "projects", "believes", or variations of such words and phrases or statements to the effect that certain actions, events or results "may", "will", "could", "would", "might", "occur", "be achieved", or "continue" and similar expressions identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding the strategic review process and the strategic alternatives that may be available to the Corporation. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the Corporation cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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