Palamina Adopts Semi-Annual Financial Reporting

Rhea-AI Summary

Palamina (OTCQB: PLMNF, TSXV: PA) will move from quarterly to semi-annual financial reporting under Canadian Securities Administrators Blanket Order 51-933.

The company will stop filing Q1 and Q3 interim reports, while continuing audited annual statements and six‑month interim financials, aiming to lower administrative and financial reporting burdens.

AI-generated analysis. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - May 12, 2026) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) is pleased to announce that pursuant to the Canadian Securities Administrators Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers, as adopted by the B.C. Securities Commission, (the "Blanket Order") it will move to semi-annual financial reporting ("SAR").

Palamina will voluntarily move from a quarterly to a semi-annual financial reporting framework. The Company's fiscal year recently ended on December 31. Under the SAR pilot program, the Company will be exempt from filing interim financial reports and related Management's Discussion & Analysis (MD&A) for its first and third quarters.

Interim Periods Affected: The Company will not file an interim report in 2026 (and in future years) for the first quarter (Q1) ending March 31 and the third quarter (Q3) ending September 31; and Ongoing Reporting Requirements: The Company will continue to file audited financial statements (due within 120 days of year-end) and six-month interim financial reports (due within 60 days of December 31).

This news release is being issued pursuant to the Blanket Order and the Company will continue to report all material changes and significant developments as required under National Instrument 51-102 - Continuous Disclosure Obligations and under all applicable securities laws and regulations. Adopting semi-annual reporting will reduce the administrative and financial burden associated with quarterly reporting.

About Palamina

Palamina is a mineral exploration company with 6 gold projects in the Puno Orogenic Gold Belt in southeastern Peru and a separate Canadian 100% owned subsidiary, Colt Silver Corp. with seven copper-silver assets across southeastern, northeastern, and central Peru. Colt Silver Corp. is being spun out into its own stand alone public company to unlock additional shareholder value. Palamina trades on the TSX Venture Exchange (PA) and the OTCQB (PLMNF).

On Behalf of the Board of Directors

Andrew Thomson, President
Phone: (416) 204-7536 or visit www.palamina.com

Neither the 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.

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements include, but are not limited to, the use of proceeds of the Offering and the Company's future business plans. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and 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, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedar.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297113

FAQ

What change to financial reporting did Palamina (OTCQB: PLMNF) announce on May 12, 2026?

Palamina announced a shift from quarterly to semi-annual financial reporting. According to Palamina, this follows Canadian Securities Administrators Blanket Order 51-933 and exempts the company from filing certain interim financial reports and related MD&A while maintaining annual and six-month disclosures.

Which Palamina financial quarters are affected by the new semi-annual reporting (PLMNF)?

Palamina will no longer file interim financial reports for its first quarter ending March 31 and third quarter ending September 31. According to Palamina, these changes apply for 2026 and future years under the semi-annual reporting pilot program.

Will Palamina (PLMNF) still file audited annual financial statements under semi-annual reporting?

Yes, Palamina will continue filing audited annual financial statements. According to Palamina, these annual reports remain due within 120 days of the December 31 fiscal year-end, alongside six‑month interim financial reports due within 60 days of December 31 each year.

How will semi-annual financial reporting affect Palamina’s ongoing disclosure obligations?

Semi-annual reporting does not change Palamina’s material change reporting. According to Palamina, the company will continue to disclose significant developments as required under National Instrument 51‑102 – Continuous Disclosure Obligations and all applicable securities laws and regulations.

Why is Palamina (PLMNF) adopting semi-annual reporting instead of quarterly reports?

Palamina expects semi-annual reporting to reduce administrative and financial burdens. According to Palamina, the move under the Blanket Order 51‑933 pilot program aims to streamline reporting while preserving essential annual and six‑month financial disclosure for investors.