VANCOUVER, BC / ACCESS Newswire / July 2, 2025 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) announced today that it will not file its annual financial statements for the financial year ended March 31, 2025 (the "Financial Statements"), or its management's discussion and analysis, CEO and CFO filing certificates or annual information form relating to the Financial Statements (collectively, the "Required Filings"), before the prescribed filing deadline of June 30, 2025 (the "Filing Deadline").
The reason for the default is that the Company recently changed its auditor, and this change has caused delays in the audit of the Company's financial statements. As disclosed in the Company's public disclosure record on SEDAR+, effective June 4, 2025, Davidson & Company LLP was appointed as the new auditor of the Company. Due to the time needed for an effective transition to the new auditor, the auditor requires additional time to complete the audit of the Financial Statements. The transition between audit firms requires time to onboard the new auditor with the Company's financial reporting processes, accounting policies, and historical audit documentation. In addition, the new auditor is required to perform certain independent procedures to satisfy professional standards, which are more extensive in the first year of engagement.
The Company has now provided all required information to the auditor so that the auditor is able to complete the audit. The Required Filings are expected to be filed as soon as they are available and within a reasonable period, and in any event by no later than July 30, 2025.
The Company has made an application with the British Columbia Securities Commission and other applicable securities regulators under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") requesting that a management cease trade order (the "MCTO") be imposed in respect of the late filing of the Required Filings. There is no guarantee that a MCTO will be granted. If the MCTO is granted, the MCTO will prohibit the chief executive officer, the chief financial officer, and possibly the directors, other officers and other insiders of the Company from trading in securities of the Company for so long as the Required Filings are not filed. The issuance of such MCTO does not generally affect the ability of persons who are not directors, officers or other insiders of the Company to trade in the Company's securities.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases so long as it remains in default of the filing requirements set out above.
About Gold Mountain
Gold Mountain is a British Columbia based gold and silver production, exploration and development company focused on the development of the Elk Gold Mine, a producing mine located 57 kilometers from Merritt in South Central British Columbia. Additional information is available at www.sedarplus.ca or on the Company's website at www.goldmountainminingcorp.ca.
For more information, please contact:
Gold Mountain Mining Corp.
Email: info@goldmountainminingcorp.ca
Website: www.goldmountainminingcorp.ca
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
Forward Looking Statements
Forward-looking statements in this news release may include, but are not limited to, statements relating to those in respect of the Company's future financial reporting. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
SOURCE: Gold Mountain Mining Corp
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/gold-mountain-announces-late-filing-of-annual-financial-statements-1045489
