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VANCOUVER, BC / ACCESS Newswire / May 5, 2026 / Totec Resources Ltd. ("Totec" or the "Company") (TSXV:TOTC), announces that it has elected to rely on Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Order") and move to semi-annual financial reporting ("SAR").
The Order allows eligible venture issuers listed on the TSX Venture Exchange (the "TSXV") to voluntarily move from a quarterly to a semi-annual financial reporting framework. The Company's fiscal year ends on March 31. Under the SAR pilot program, the Company will be exempt from filing interim financial reports and related Management's Discussion & Analysis (MD&A) for its first and third quarters.
Interim Period: The Company will not file an interim report for the first quarter (Q1) ending June 30 and the third quarter (Q3) ending December 31; and
Ongoing Reporting: The Company will continue to file audited financial statements (due within 120 days of March 31) and six-month interim financial reports (due within 60 days of September 30).
The Company confirms it meets the pilot program's eligibility criteria, which include being a venture issuer with annual revenues of less than $10 million, having a disclosure record of over 12 months and having ?led all required periodic and timely continuous disclosure documents.
The ?rst period for which the Company will not ?le an interim ?nancial report and related MD&A will be for the three-month period ended June 30, 2026.
The Company further announces the voting results from its annual general and special meeting (the "Meeting") of shareholders of the Company (the "Shareholders"), held on March 6, 2026.
All resolutions presented to the Shareholders were approved. Each of the resolutions are explained in detail in the Management Information Circular, which is available under the Company's SEDAR+ profile at www.sedarplus.ca.
A total of 3,366,168 common shares, representing approximately 8.71% of the Company's outstanding common shares, were voted in person and by proxy at the Meeting. Shareholders voted in favour of the following:
Setting the number of directors at four;
Electing the following directors: Deepak Varshney, James Walker, Zachary Kotowych and Rishi Kwatra;
Appointing Davidson & Company LLP as the auditor of the Company for the ensuing year; and
Adopting a new long-term incentive plan.
The Company would like to thank the Shareholders for their participation and continuing support.
About Totec Resources Ltd.
Totec is a listed company on the TSX Venture Exchange under the symbol TOTC; and Frankfurt Stock Exchange (FSE) under the ticker symbol UOZ0. The Company's principal business activities include the acquisition and exploration of mineral property assets.
For further information, please contact:
Deepak Varshney, CEO and Director Telephone: 778-899-1780
Forward-Looking Statements and Disclaimers
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur".
This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the Company's plans to develop its resources and create shareholder value.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will successfully advance the development of its resources and that such efforts will result in creating shareholder value.
These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not advance the development of its resources and that the Company will not create shareholder value.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.
Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Totec Resources Ltd.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/totec-resources-adopts-semi-annual-reporting-1164015
