Article content
VANCOUVER, British Columbia, May 3, 2024 (GLOBE NEWSWIRE) — Ultra Lithium Inc. (TSXV: ULT OTCQB: ULTXF Frankfurt: QFB) (“Ultra Lithium” or the “Company”) is providing this bi-weekly standard status report in accordance with the National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). On March 4, 2024, the Company announced that it was issued a voluntary trading halt order pursuant to NP 12-203, effective February 29, 2024, due to its inability to file its financial statements and management’s discussion and analysis (” MD&A”) for the fiscal year ended October 31, 2023 and the related CEO and CFO certifications (collectively, the “Annual Filings”) on SEDAR within 120 days of the fiscal year end. The management halting trading order was issued by the company’s primary regulator, the British Columbia Securities Commission.
Article content
The Company was unable to complete the year-end audit within the timelines required by National Instrument 51-102 because the start of the audit was delayed due to insufficient funds. Therefore, the company needs additional time to submit annual documents.
Article content
The company has received loan financing and has begun its annual audit. The company experienced some delays in obtaining the documents from Argentina that its auditors needed to complete the audit. The Company requested and received an extension of the MCTO until May 13, 2024. The relevant documents have now been presented to the auditors. The Company expects to file its annual reports as soon as they become available, but in any event no later than May 13, 2024, and will issue a press release following filing.
NP 12-203 requires the Company to submit outage status reports in the form of additional press releases every two weeks during the MCTO period. The Company reports that it is working diligently with its auditors to complete the audit in a timely manner and that there have been no material changes to the information contained in this press release since its press release dated March 4, 2024. The Company confirms that there has been no failure on the part of the Company in carrying out its stated intentions to comply with the provisions of the Alternative Information Policy set forth in NP 12-203 and that no specified subsequent default has occurred and is not expected to occur to the default announced in the Company’s press release dated March 4, 2024. The Company further confirms that there is no other material information relating to the Company’s affairs that has not been generally disclosed as of the date of this press release.
Article content
About Ultra Lithium Inc.
Ultra Lithium Inc. is an exploration and development company focused on the acquisition and development of lithium, gold and copper properties. The Company owns a brine lithium property in Argentina, hard rock spodumene-type lithium properties in the Georgia Lake/Forgan Lake area of northwestern Ontario, Canada and a brine lithium property in the Big Smoky Valley, Nevada, USA. The Company also owns additional gold and base metal deposits in Argentina.
ON BEHALF OF THE BOARD OF DIRECTORS
“Kiki Smith”
Kiki Smith, CFO, Director
For further information, please contact the company at:
Attention: Kiki Smith
Phone: 778 968-1176
Email: [email protected]
Website: www.ultralithium.com
or view the Company’s filings at www.SEDARPLUS.ca.
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release constitute forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or expressions or statements that certain actions, Events or results “may”, “could”, “should”, “would”, “could” or “will” be taken, occurred or achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties that are beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, except as required by law.
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.
Share this article on your social network