Pambili announces Cease Trade Order due to filing delay, actively pursuing resolution
CALGARY, Canada (July 3, 2025)—In its May 8, 2025, news release, Pambili Natural Resources Company (“Pambili” or the “Company”) (TSXV: PNN) announced that it had been granted a management cease trade order (the "MCTO"). Today, the Company reports that the Alberta Securities Commission (the “ASC”) has revoked the MCTO and issued a failure to file cease trade order (“FFCTO”), prohibiting the trading of the Company’s securities in Canada, including on the TSX Venture Exchange (the “TSXV”).
The FFCTO was issued because the Company did not file its audited annual financial statements, management’s discussion and analysis, and related CEO and CFO certifications for the year ended Dec. 31, 2024 (the “Required Filings”) by the April 30, 2025, deadline. As a result, the Company is also unable to file its interim financial statements for the three months ended March 31, 2025 (the “Interim Statements”).
The audit has not yet formally commenced. As announced in our June 23, 2025, release, Pambili is actively seeking additional funding to cover working capital needs, including the audit cost, via a non-brokered private placement (“NBPP”). The Company will immediately apply for a partial FFCTO revocation to close the first tranche of this financing as soon as possible.
Upon securing the necessary funds, the Company will work with its auditor to schedule the audit. Based on prior discussions, the audit is expected to be completed within approximately 30 days after it begins.
Pambili remains fully committed to resolving this matter and filing its outstanding financial reports as soon as reasonably possible. The Company aims to complete the Required Filings and Interim Statements within the next 45 days and will provide timely updates as progress is made.