Quartz Adopts Semi-Annual Financial Reporting

Executive Summary

• Quartz Mountain Resources Ltd. announces its election to transition from quarterly to semi-annual financial reporting under the TSX Venture Exchange's Coordinated Blanket Order 51-933.
• The company will be exempt from filing interim financial reports and related MD&A for its first and third quarters, while maintaining its obligation to file audited annual and six-month interim reports.
• Management confirms the company meets all eligibility requirements for the SAR pilot program, including maintaining annual revenues under $10 million and a clean 12-month continuous disclosure record.

Key Details

• Reporting Framework Change: Election to adopt Semi-Annual Reporting (SAR) pursuant to Coordinated Blanket Order 51-933.
• Fiscal Year-End: July 31.
• Exempt Filings: No longer required to file interim financial reports or MD&A for Q1 (ending October 31) and Q3 (ending April 30) of each year.
• Continuing Reporting Obligations:
• Audited annual financial statements: Due within 120 days of July 31 each year.
• Six-month interim financial reports: Due within 60 days of January 31 each year.
• Eligibility Criteria Met: Venture issuer with annual revenues less than $10 million and a clean 12-month continuous disclosure record.
• Regulatory Basis: Release filed directly pursuant to the Blanket Order to formally notify the exchange and market of the reporting framework election.