(TheNewswire)
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Vancouver, British Columbia, Canada – TheNewswire - August 29th, 2025, Generation Uranium Inc. (the “Company” or “Generation”), (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) further to the Company’s news release dated August 25, 2025, the Company continues to work towards the filing of its annual audited financial statements for the year ended April 30, 2025. Generation has provided a set of draft financial statements to its auditor. Both the company and its auditor continue to work diligently toward the completion and filing of the annual audited financial statements.
In connection with the anticipated delays in making the required filings, the company made an application for a management cease trade order under National Policy 12-203 (Management Cease Trade Orders) to the British Columbia Securities Commission, as principal regulator for the company, and the MCTO was issued on August 28, 2025. The MCTO restricts all trading by the company's chief executive officer and chief financial officer in securities of the company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the company to trade their securities. The MCTO will remain in effect until the required filings are filed or until it is revoked or varied.
The company's audited financial statements, management's discussion and analysis, Chief Executive Officer and Chief Financial Officer certifications relating to the audited financial statements for the year ended April 30, 2025, were due to be filed by August 28, 2025. The delay arose from the company's recent CFO transition; it is the auditor and company’s joint assessment that additional time is required to complete the remaining audit procedures and the auditor's review process. The company and its auditor have nearly concluded the process of completing the associated audit work,The Company will provide additional updates shortly once the anticipated filing date of the audited financial statements and MD&A have been determined.
The company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the required filings requirement. The company has not taken any steps toward any insolvency proceeding, and the company has no material information relating to its affairs that has not been generally disclosed.
FOR FURTHER INFORMATION CONTACT
Chris Huggins
Interim Chief Executive Officer
604-968-4844
admin@generationuranium.com
About Generation Uranium
The Company is a natural resource company engaged in the exploration and development of mineral properties. Generation holds a 100% interest in the Yath Uranium Project, located in the Territory of Nunavut.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
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