TVI Granted Management Cease Trade Order

• Date: May 4, 2026
• Headline: TVI Granted Management Cease Trade Order
• Core Event: The Alberta Securities Commission (ASC) issued a Management Cease Trade Order (MCTO) against TVI Pacific Inc. due to failure to file audited annual financial statements for the fiscal year ended December 31, 2025, by the April 30, 2026 deadline.
• Reason: The delay is caused by the external audit of its material joint venture, TVI Resource Development (Phils.), Inc. (TVIRD), conducted by PwC Philippines. The Philippine government extended the statutory filing deadline to May 15, 2026.
• Scope: The MCTO restricts trading for the CEO and CFO only; non-insider shareholders can still trade.
• Resolution Plan: Management expects to file the required documents by June 1, 2026. Bi-weekly default status reports will be issued per National Policy 12-203.
• Financial Status: Company confirms no insolvency proceedings and no material change to previously disclosed information.

• Expectation vs. Reality: This announcement is a confirmation of the April 17, 2026 news release where TVI explicitly stated it would miss the April 30 deadline and had applied for an MCTO. Therefore, the regulatory default was anticipated by the market.
• Risk Profile: While not unexpected, a regulatory default remains a negative signal regarding corporate governance and financial transparency. It restricts liquidity for insiders but does not immediately halt trading for public shareholders.
• Audit Concerns: The reliance on PwC Philippines to complete an audit that has already exceeded statutory deadlines suggests potential complexities in the underlying assets (TVIRD). This raises questions about the quality of earnings or asset valuation until resolved.
• Capital Implications: There is no immediate indication of capital raising needs triggered by this specific news, but prolonged default could jeopardize listing status on the TSX-V if not remedied by June 1.

• Overview: TVI Pacific Inc. is a TSX-V listed Canadian resource company focused on mineral projects in the Philippines through its 30.66% owned affiliate, TVIRD.
• Flagship Assets:
  • Balabag Gold-Silver Mine: Operating since 2021. Resources include 4.35 Mt @ 1.78 g/t Au, 43.08 g/t Ag.
  • Siana Gold Mine: Operating since 2023. Includes open pit and planned underground transition. Significant reserves (Probable: 131 Mt @ 0.94 g/t Au).
  • Agata Nickel/Iron Mine: Currently in final rehabilitation phase after operating from 2014-2023.
• Strategy: Low-initial CAPEX development model with a focus on navigating Philippine permitting (TVIRD was the only company issued permits during a moratorium).