(TheNewswire)
Vancouver, BC – TheNewswire -- January 4, 2024 -- Baru Gold Corp. (TSXV:BARU) (OTC:BARUF) (the “Company”) announces that further to the news release of December 28, 2023, the Company’s request for a Management Cease Trade Order (“MCTO”), has received approval. The request was made as it was not able to file its audited annual financial statement for the period ended August 31, 2023, and its MD&A by the filing deadline of December 29, 2023 (collectively, the “Annual Filings”), and as a result is in default of its obligations under National Instrument 51-102 Continuous Disclosure Obligations.
The Company has been granted approval from the British Columbia Securities Commission for the MCTO under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The Company applied for a MCTO as the Company required additional time to raise the necessary capital to fund its annual audit within the time frame to file on or before December 29, 2023. All the audit work has been completed and once the auditor is paid, the Annual Filings will be made.
The Company expects to file the Annual Filings as soon as funds are available, but in any event on or before February 27, 2024 (two-month period contemplated by NP 12-203).
Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
The Company wishes to reiterate that during the MCTO, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, the Company’s Chief Executive Officer and Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities will not be able to trade in the Company’s shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted.
On behalf of the Board of Directors
BARU GOLD CORP.
“Terry Filbert”
Terry Filbert
Director and Chief Executive Officer
President & CEO
info@barugold.com
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext. 702
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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
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