Nevada Zinc Announces Delay in Annual Filings and Expected Trading Suspension

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OTTAWA, April 30, 2024 (GLOBE NEWSWIRE) — Nevada Zinc Corporation (NZN:TSX-V) (The “Pursue” or “Nevada zinc“) announces a delay in filing its audited financial statements and accompanying management discussion and analysis and related CEO and CFO certificates for the year ended December 31, 2023 (collectively, the “Annual Submissions) beyond the April 29, 2024 filing deadline as required under applicable Canadian securities laws. The Company was unable to complete annual filings on time due to a delay in the completion of a financing transaction the Company is currently negotiating.

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As a result of the delay, the Company is deemed insolvent by relevant securities regulators in Canada and is expected to be deemed insolvent by the Ontario Securities Commission (“OSC“), as the main regulatory authority, an order is issued to stop trading in the event of non-filing (“CTO“) in accordance with the principles and guidelines of National Policy 12-307 – Failure to file cease-and-desist orders and revocations in multiple jurisdictions. Upon publication, the CTO will prohibit all trading of Nevada Zinc’s securities in all Canadian jurisdictions while the Order remains in effect and will result in a suspension of trading of the Company’s common shares on the TSX Venture Exchange (“TSXV“). Once issued, the CTO will remain in effect until the Company files its annual filings and the CTO is revoked and all TSXV requirements are satisfied.

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The Company expects to complete and submit annual filings before the end of May 2024. Further updates will be provided.

For further information please contact:

Mike Wilson, President and CEO
T: (416) 574-9075
Email: [email protected]

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Be careful with forward-looking statements

This press release may contain forward-looking statements, including, but not limited to, comments regarding regulatory approvals and financing. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results, including, but not limited to, ongoing financing, regulatory approvals, expected proceeds from financing and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements. These and other factors should be carefully considered and readers should not place undue reliance on the Company’s forward-looking 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 reviewed or accepts responsibility for the adequacy or accuracy of this release.

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