TVI Provides Second Default Status Update
Rhea-AI Summary
TVI Pacific (OTC:TVIPF) issued a second bi-weekly Default Status Report under NP 12-203 after delaying its annual audited financial statements, MD&A and certifications for year-end December 31, 2025 (the “Required Filings”). The delay also caused a missed deadline for Q1 2026 interim filings.
The Alberta Securities Commission extended the management cease trade order to June 16, 2026. TVI expects to file the Required Filings on or before June 8, 2026 and the Q1 2026 interim filings within five business days thereafter, while continuing bi-weekly status updates.
AI-generated analysis. Not financial advice.
Positive
- Alberta Securities Commission extended management cease trade order to June 16, 2026
- Company targets filing Required Filings on or before June 8, 2026
- Interim Q1 2026 filings planned within five business days after annual filings
- Ongoing audit work with external auditor to complete Required Filings
- Commitment to bi-weekly Default Status Reports under NP 12-203
Negative
- Annual 2025 audited financial statements and MD&A missed April 30, 2026 deadline
- Q1 2026 interim financial statements and MD&A missed June 1, 2026 deadline
- Company remains under management cease trade order as of June 1, 2026
- Risk of issuer cease trade order if filings are not completed in time
News Market Reaction – TVIPF
On the day this news was published, TVIPF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Calgary, Alberta--(Newsfile Corp. - June 1, 2026) - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) ("TVI" or the "Corporation") provides its second bi-weekly Default Status Report under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"), pursuant to which TVI issued its original default announcement indicating that the filing of its annual audited financial statements, annual management's discussion and analysis, and related certifications for the year ended December 31, 2025 (the "Required Filings"), would be delayed beyond the filing deadline of April 30, 2026. TVI reports that since its news release dated May 19, 2026 there have been no material changes to the information contained therein that have not been disclosed, nor any failure by TVI to fulfill its intentions as stated therein, other than as set forth below.
As a result of circumstances reasonably linked to the Corporation's delay in filing the Required Filings, in addition to the default to which this Default Status Report relates, the Corporation did not meet the deadline for filing its interim unaudited financial statements, interim management's discussion and analysis, and related certifications for the three-month period ended March 31, 2026 (collectively, the "Interim Filings"). As a result of the Corporation's delay in preparing the Required Filings, the Interim Filings could not be properly completed in accordance with Canadian securities law and regulation. Under the securities laws of the provinces in which TVI is a reporting issuer, the Interim Filings were to be filed by June 1, 2026.
The Alberta Securities Commission has advised the Corporation that its application to extend the management cease trade order granted on May 4, 2026 (the "MCTO") until June 16, 2026 has been approved.
The Corporation's Board of Directors and management confirm that the audit is ongoing and that they are working expeditiously with the Corporation's auditor to meet the Corporation's obligations related to the filing of the Required Filings and the Interim Filings and expect to remedy the default by filing the Required Filings on or before June 8, 2026. The Corporation will file the Interim Filings within five business days of filing of the Required Filings.
Until the Required Filings and Interim Filings have been filed, the Corporation intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly Default Status Reports in the form of further press releases for so long as the Corporation remains in default of the financial statement filing requirement. In the event that the Corporation does not file the Required Filings and Interim Filings in a timely manner, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Corporation.
About TVI
TVI is a Canadian resource company focused on mining projects in the Philippines. TVI maintains a strong presence in the Philippines through its
For more information, please contact:
Michael G. Regino
Chief Executive Officer
Email: Michael.Regino@tvird.com.ph
Phone: +632-7728-8491
Forward-Looking Statements
Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding the MCTO, timing of the filing of the Required Filings and Interim Filings and TVI's future business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and TVI assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by TVI with the securities regulatory authorities, available at www.sedarplus.ca.
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 press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299695