Sankamap Metals applies for MCTO

Executive Summary

• Sankamap Metals Inc. anticipates a delay in filing its audited financial statements for the year ended June 30, 2025, due to the time required to complete audit procedures related to a recently acquired subsidiary.
• The company has applied for a Management Cease Trade Order (MCTO) from the Alberta Securities Commission to allow additional time for filing; if granted, this will restrict trading by the CEO and CFO but will not affect other shareholders.
• The company expects to file the audited financial statements, MD&A, and CEO/CFO certifications on or before November 28, 2025, and intends to issue biweekly default status reports until compliance is achieved.

Key Details

• Filing Delay Reason: Delay stems from a joint assessment with the auditor regarding remaining audit procedures and the later-than-expected finalization of financial information from a recently acquired subsidiary.
• Current Status: All outstanding audit issues regarding the subsidiary have been addressed and submitted to the subsidiary's auditor; the company is awaiting the auditor's response and final adjustments.
• Projected Timeline: Once audit work formally commences, completion is estimated at three to four weeks, targeting a filing date on or before November 28, 2025.
• Regulatory Action: Application made under National Policy 12-203 for a Management Cease Trade Order (MCTO) to the Alberta Securities Commission.
• MCTO Impact: If granted, the MCTO restricts trading by the CEO and CFO in company securities (direct or indirect) until required filings are made or the order is revoked. It does not affect trading by non-directors, officers, or insiders.
• Compliance Measures: The company will issue biweekly default status reports via news release until the required filings are met.
• Insolvency Status: The company confirms it has not taken steps toward insolvency and has no undisclosed material information.
• Future Filings: Interim first-quarter financial statements are expected to be filed shortly after the required annual filings are completed.

Notable Quotes

• "The company is currently awaiting the auditor's response and any final audit adjustments. Once this step is completed, the audited financials will be submitted to the company's auditor as part of the final planning documentation required to proceed."
• "As a precautionary measure, the company is pursuing a management cease trade order (MCTO) to provide additional time, if required."