Centaurus Energy Announces Cease Trade Order

Rhea-AI Summary

Centaurus Energy (CTARF) has received a cease trade order (CTO) from the Alberta Securities Commission on May 7, 2025, due to delayed filing of its 2024 annual financial statements and related documents. The delay stems from a change in auditor and subsequent financial statement restatement. The company expects to complete the required Annual Filings by May 30, 2025. During the CTO period, Centaurus will comply with alternative information guidelines outlined in National Policy 12-203.

Positive

• None.

Negative

• Cease trade order issued due to delayed annual financial filings
• Required financial statement restatement following auditor change
• Trading suspension affects shareholder liquidity

Calgary, Alberta--(Newsfile Corp. - May 12, 2025) - Centaurus Energy Inc. (TSXV: CTA) (OTC Pink: CTARF) ("Centaurus" or the "Company") announces that the Alberta Securities Commission, being Centaurus' principal regulator, has issued a cease trade order (the "CTO"), on May 7, 2025 . The CTO was issued due to a delay in the filing of its audited annual financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended December 31, 2024 (the "Annual Filings").

Due to a change in auditor and a resulting financial statement restatement, additional time is required to finalize the audit and prepare the amended financial statements and related disclosures.

The Company's board of directors and its management are working expeditiously to meet the Company's obligations relating to the filing of the Annual Filings. At this time, the Company anticipates being able to complete the Annual Filings on or before May 30, 2025.

During the CTO, the Company confirms that it will comply with the provisions of the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for as long as it remains in default.

About Centaurus Energy

Centaurus is a company focused on investing in Ether, Solana and other digital commodities. The Company's shares trade on the TSX-V under the symbol "CTA" and on the OTC Pink Market under the symbol "CTARF".

FOR FURTHER INFORMATION, PLEASE CONTACT:

David Tawil, Chief Executive Officer

email: davidtawil@ctaurus.com

phone: (646) 479-9387

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking statements which with respect to the possible approval of the Proposed Change of Business by the Exchange and the shareholders of the Company, and the implementation of the Proposed Change of Business, if implemented. These forward-looking statements may relate to, among other things, forecasts or expectations regarding business outlook for Centaurus or Ether, the requirements of the Exchange, and may also include other statements that are predictive in nature, or that depend upon or refer to future events or conditions, and can generally be identified by words such as "may", "will", "expects", "anticipates", "intends", "plans", "believes", "estimates", "guidance", or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Centaurus. The reader is cautioned not to place undue reliance on any forward-looking information. Although such information is considered reasonable by management at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and Centaurus do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251808

FAQ

Why was Centaurus Energy (CTARF) issued a cease trade order in May 2025?

Centaurus Energy received a cease trade order on May 7, 2025, due to delayed filing of its 2024 annual financial statements, MD&A, and CEO/CFO certifications following a change in auditor and financial statement restatement.

When will CTARF's cease trade order be lifted?

Centaurus Energy anticipates completing the required Annual Filings by May 30, 2025, which could lead to the lifting of the cease trade order upon regulatory review and approval.

What caused the delay in Centaurus Energy's 2024 annual financial filings?

The delay was caused by a change in auditor and a resulting financial statement restatement, requiring additional time to finalize the audit and prepare amended financial statements.

What regulations must CTARF follow during the cease trade order period?

During the CTO, Centaurus Energy must comply with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults.