Newlox Announces Delay In Filing Of Audited Annual Financial Statements
Vancouver, British Columbia, 1 August 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF), announces that the filing of its audited annual financial statements for the year ended March 31, 2023, including the related management discussion and analysis, and Chief Executive Officer and Chief Financial certifications (collectively, the “Annual Financial Filings”) were not filed by the required filing deadline of July 31, 2023 (the “Filing Deadline”).
The 2023 Annual Audited Financial Statements have not been filed before the Filing Deadline due to unforeseen delays in the completion of the Company’s audit of the annual financial statements for the year ended March 31, 2023. The unforeseen delays are primarily due to the requirement for the Company to obtain a valuation of certain transactions in connection with the audit. These requirements have extended the timeline of the audit but are not expected to affect the Company’s and its auditor’s ability to complete the required work. The Company’s staff are working diligently with its auditors and the Company anticipates that it will be in a position to file the Annual Financial Filings by August 15, 2023.
Pursuant to National Policy 12-203 Management Cease Trade Orders (“NP 12-203”) the Company has voluntarily applied to the applicable securities regulatory authorities and received a management cease trade order related to the Company’s securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company (the “MCTO”). The MCTO will be in effect until the Annual Financial Filings are filed. All other security holders will still be able to trade in the securities of the Company in accordance with applicable securities laws.
Until the Annual Financial Filings are filed and the MCTO has been revoked, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing default status reports in the form of further press releases every two weeks.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox Gold
Newlox Gold Ventures Corp., President Website:
Email: [email protected]
Phone: + 1 604 256 0493