Cache Exploration Inc. Receives Cease Trade Order
VANCOUVER, April 5, 2021 - Cache Exploration Inc. (the "Company" or "Cache"), (TSXV:CAY), announces that further to its news releases dated January 29, 2021 and February 22, 2021 (the "Default Announcements") the Company's principal regulator, the British Columbia Securities Commission (the "BCSC") granted a management cease trade order (the "MCTO") on January 29, 2021, under National Policy 12-203 Management Cease Trade Orders. The Company now discloses that the filings of the Company's annual audited financial statements for the year ended September 30, 2020, including the related management's discussion and analysis (the "Audited Annual Financial Statements"), were not filed on or before the deadline of March 29, 2021.
As a result, the British Columbia Securities Commission (the "BCSC") issued a cease trade order (the "CTO") against the Company and securities have been halted from trading on the TSX Venture Exchange ("TSXV"), effective March 31, 2021.
The Company has now filed its Audited Annual Financial Statements along with the related Management Discussion and Analysis. Additionally, the Company has now filed its outstanding interim (quarterly) financial statements and related Management Discussion and Analysis for the period ended December 31, 2020 (together, the "Q1 Financials"). The Q1 Financials were due to be filed on or before March 1, 2021 but were delayed pending the completion of the annual filing.
Management expects that the CTO and MCTO issued by the BCSC on will be revoked in the near future.
Upon revocation of the CTO and MCTO by the BCSC, the Company will then apply for reinstatement of trading on the TSXV, which as a result of the CTO halted trading in the Company's common shares. The process of seeking reinstatement by the TSXV will begin as soon as possible and the Company will issue a further news release with respect to the expected timing of the reinstatement process in due course.
On behalf of the Board of Directors,
"Jack Bal"
Chief Executive Officer
Tel.: 1-604-306-5285
jackbal@cacheexploration.com
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: revocation of the CTO and MCTO, results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise unless required by applicable securities 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.
