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Calgary, Alberta – TheNewswire – June 15, 2023 – Pambili Natural Resources Corporation (“Pambili” or the “Company”) (TSXV:PNN) announces that further to its news release dated May 31, 2023, the Management Cease Trade Order (“MCTO”) issued by the Alberta Securities Commission (”ASC”) on May 05, 2023, remains in effect.
Although the public can continue to trade in the Company’s listed securities (“Shares”) while the MCTO is in place, the CEO and CFO of the Company are prohibited from trading in Shares until such time as Pambili has filed the following continuous disclosure documents (collectively, the “Documents”):
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the Company’s Annual Audited Financial Statements for the year ended December 31, 2022, as required by section 4.2 of National Instrument 51-102 – Continuous Disclosure Obligations NI 51-102”); and
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the Company’s Management Discussion Analysis for the year ended December 31, 2022, as required by section 5.1(2) of NI 51-102.
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CEO and CFO certificates relating to the Audited Annual Financial Statements, as required by NI 51-102
The principal reason for the delay remains the inability of the Company’s external auditors to complete the audit for the financial year ended December 31, 2022, partly because of the late receipt of certain information from Zimbabwe and because of the delay in payment of their fees which have now been settled. Pambili continues to work with its auditors to resolve any remaining issues and expects that the Documents will be filed by June 29, 2023, and that the interim Q1 financial statements will be filed by June 30, 2023.
During this period of default, the Company will continue to satisfy the provisions of the alternative information guidelines as required by National Policy 12-203 – Management Cease Trade Orders.
Pambili confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on November 29, 2022, of the Company’s latest interim financial reports for the period ended September 30, 2022.
About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and in the province of Alberta.
For further information, contact:
Pambili Natural Resources Corporation
T: 403 277 4421
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.
Caution Regarding Forward-Looking Information Forward-looking statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to activities in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.
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