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HomePress ReleaseEIN PresswireFenixOro Gold Corp. Announces Extension For Year End Financial Statements and Management...

FenixOro Gold Corp. Announces Extension For Year End Financial Statements and Management Cease Trade Order


TORONTO, ONTARIO, CANADA, July 5, 2023/EINPresswire.com/ — FenixOro Gold Corp. (“FenixOro” or the “Firm”) (CSE:FENX) (OTCQB:FDVXF) (FSE: 8FD) publicizes that it has acquired an extension to file its monetary statements for the 12 months ended February 28, 2023. It anticipates with the ability to file its monetary statements for the 12 months ended February 28, 2023, along with the associated administration’s dialogue and evaluation, and CEO and CFO certificates (the “Annual Paperwork”) on July 21, 2023, after the shut.

Completion of the Firm’s audit has taken longer than anticipated because of the departure of sure native accounting employees in Colombia. The Firm is actively looking for replacements to fill these roles. Throughout this time, the Firm is utilizing native exterior consultants to fulfil these positional necessities. With respect to the standing of the audit, the Firm has engaged an exterior accounting agency and native accountants in Colombia to help with the completion of the audit. However the anticipated delay, the Firm continues to function usually with out disruption and is working diligently and expeditiously with its auditors to finish the audit as quickly as attainable.

The Firm has knowledgeable employees of the British Columbia Securities Fee (the “BCSC”) concerning the anticipated delay for submitting the Annual Paperwork, and has utilized to the BCSC pursuant to Half 3 of Nationwide Coverage 12-203 – Management Cease Trade Orders (“NP 12-203”) for a Management Cease Trade Order (“MCTO”) pending the submitting of the Annual Paperwork, which MCTO prohibits the Firm’s administration from buying and selling within the securities of the Firm till such time because the Annual Paperwork are filed. The Firm confirms that the MCTO was granted by the BCSC on June 29, 2023.

As described above, the Firm plans to file the Annual Paperwork on July 21, 2023. In the course of the interval of default and till submitting of the Annual Paperwork, the Firm intends to fulfill the provisions of the “various info pointers” as set out in NP 12-203, together with the requirement to file bi-weekly standing stories within the type of information releases containing prescribed updating info.

Till the Firm has filed the Annual Paperwork, members of the Firm’s administration and different insiders are topic to an insider buying and selling black-out as per its inner Insider Buying and selling and Reporting Coverage. The Firm confirms that, apart from as disclosed in prior press releases and materials change stories, there have been no materials enterprise developments for the reason that submitting on January 30, 2023 of the Firm’s newest interim monetary stories for the nine-month interval ended November 30, 2022.

The Firm will not be at the moment topic to any insolvency proceedings. If the Firm offers any info to any of its collectors through the interval by which it’s in default of submitting the Paperwork, the Firm confirms that it’ll additionally file materials change stories on SEDAR containing such info as is required.

ABOUT FENIXORO GOLD CORP.

FenixOro Gold Corp is a Canadian firm targeted on buying and exploring gold tasks with world class exploration potential in probably the most prolific gold producing areas of Colombia. FenixOro’s flagship property, the Abriaqui challenge, is the closest challenge to Continental Gold’s Buritica challenge. It’s positioned 15 km to the west in Antioquia State on the northern finish of the Mid-Cauca gold belt, a geological development which has seen a number of massive gold discoveries prior to now 10 years together with Buritica and Anglo Gold’s Nuevo Chaquiro and La Colosa. As documented in “NI 43-101 Technical Report on the Abriaqui challenge Antioquia State, Colombia” (December 5, 2019), the geological traits of Abriaqui and Buritica are comparable. Because the preparation of this report a Part 1 drilling program has been accomplished at Abriaqui leading to a big discovery of a excessive grade, “Buritica type” gold deposit. A Part 2 drilling program has just lately commenced. The Firm additionally owns the Escondida Mine, a totally permitted, producing excessive grade gold mine in Antioquia that’s at the moment present process an funding and growth plan. FenixOro’s VP of Exploration, Stuart Moller, led the invention group at Buritica for Continental Gold in 2007-2011. On the time of its newest public report, the Buritica Mine incorporates measured plus indicated sources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred useful resource (21.87 Mt grading 8.56 g/t) for a complete of 11.34 million ounces of gold sources Buritica started formal manufacturing in November 2020 and has anticipated annual common manufacturing of 250,000 ounces at an all-in sustaining value of roughly US$600 per ounce. Assets, value and manufacturing knowledge are taken from Continental Gold’s “NI 43-101 Buritica Mineral Useful resource 2019-01, Antioquia, Colombia, 18 March, 2019”. Continental Gold was just lately the topic of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.

For additional info, please contact:

FenixOro Gold Corp

John Carlesso, CEO

Electronic mail: data@FenixOro.com

Web site: www.FenixOro.com

Phone: 1-833-ORO-GOLD

John Carlesso, CEO
FenixOro Gold Corp
e-mail us right here

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