HALIFAX, Nova Scotia, August 13, 2024 (GLOBE NEWSWIRE) — ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the “Company” or “Elcora”), provides this update on the status of a management cease trade order issued on July 30, 2024 (the “MCTO“) by the Nova Scotia Securities Commission pursuant to National Policy 12-203 – Management ban on trading (“NP 12-203”). On July 12, 2024 and July 30, 2024, the Company announced that, for reasons set out in the press releases, there would be a delay in the filing of its annual financial statements and related management’s discussion and analysis for the fiscal year ended March 31, 2024 (the “Annual Filings”) beyond the time period required under applicable Canadian securities laws (the “Standard Notice”).
“We are working very hard to complete all remaining audit tasks as quickly as possible,” said Troy Grant, the company’s CEO.
During the MCTO, the general investor community may continue to trade the Company’s publicly traded common stock. However, the Company’s CEO, Chief Financial Officer and directors may not trade the Company’s common stock.
Other than as set forth in this press release, there are no material changes to the information contained in the Delinquency Notice. The Company confirms that it intends to comply with the provisions of NP 12-203 and continue to issue delinquency status reports on a bi-weekly basis for as long as it remains delinquent on the annual reporting requirement.
About Elcora Advanced Materials Corp.
Founded in 2011, Elcora is structured as a vertically integrated battery materials company. Elcora can process, refine and produce battery-related minerals and metals. As part of the vertical integration strategy, Elcora has developed a cost-effective process for purifying high-quality battery metals and minerals that is commercially scalable. This combination means that Elcora has the tools and resources to vertically integrate the battery minerals and metals industry.
For more information, please visit the company website at:
http://www.elcoracorp.com
For further information, please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847
Qualifying Statements: Klaus Leiders P. Eng., a Qualified Person as defined by National Instrument 43-101, approves the technical information contained in this news release.
WARNING:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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. No securities exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.
This news release contains certain “forward-looking statements”. All statements other than statements of historical fact included in this news release, including, but not limited to, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora’s expectations include exploration risks, which are described in detail herein and from time to time in Elcora’s filings with securities regulatory authorities.
Investors are cautioned that any information published or received in connection with the Transaction may not be accurate or complete and should not be relied upon unless disclosed in the statement prepared in connection with the Transaction.
