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Calgary, Alberta – TheNewswire - May 08, 2025 – Pambili Natural Resources Company (“ Pambili ” or the “ Company ”) (TSXV: PNN) did not file its audited annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the financial year ended December 31, 2024 (the " Required Filings ") by the filing deadline of April 30, 2025, and as a result is in default of its obligations under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations.
As previously announced on April 29, 2025 (the " Announcement "), the Company applied to the Alberta Securities Commission (the " ASC ") for a management cease trade order (the " MCTO "), which would restrict all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company. The ASC issued the MCTO on May 07, 2025. The MCTO does not generally affect the ability of shareholders who are not insiders of the Company to trade their securities.
The Company and its auditor continue to work diligently toward completing the Required Filings and expect to remedy the default by filing the Required Filings on or before June 27, 2025.
The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the "alternative information guidelines" under National Policy 12-203 Management Cease Trade Orders (" NP 12-203 ") and issue bi-weekly default status reports for so long as the delay in filing the Required Filings is continuing, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About Pambili Natural Resources Company: Pambili Natural Resources Company is a natural resources exploration and development company ( www.pambilinrc.com ) currently active in Zimbabwe and in the province of Alberta.
For further information, contact:
Pambili Natural Resources Company
T : 403 277 4421
Neither 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.
Caution Regarding Forward-Looking Information Forward-looking statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to activities in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Company does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.
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