Supreme Critical Metals Inc. Provides Default Status Update

Rhea-AI Summary

Supreme Critical Metals (OTCID:VRCFF) has received a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission on July 2, 2025. The MCTO restricts the CEO George Tsafalas and CFO Chris Gulka from trading company securities until the company files its required financial statements for the year ended February 28, 2025.

The order does not affect other shareholders' ability to trade. The company commits to providing bi-weekly status updates and confirms there is no undisclosed material information. If Supreme fails to file the required documents timely, regulators may impose a broader issuer cease trade order.

Positive

• None.

Negative

• Company failed to file required annual financial statements and related documents on time
• Management Cease Trade Order (MCTO) imposed on CEO and CFO
• Risk of potential broader cease trade order if compliance not achieved

VANCOUVER, BC / ACCESS Newswire / July 4, 2025 / Supreme Critical Metals Inc. (CSE:CRIT)(FWB:VR61)(OTCID:VRCFF) ("Supreme" or the "Company") announces that further to its news releases dated June 20, 2025, June 27, 2025 and July 2, 2025, the Company's principal regulator, the British Columbia Securities Commission (the "BCSC") granted a management cease trade order (the "MCTO") on July 2, 2025, under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). Pursuant to the MCTO, George Tsafalas, the Chief Executive Officer, and Chris Gulka, the Chief Financial Officer, may not trade in securities of the Company until such time as the Company files its audited annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the financial year ended February 28, 2025 (collectively, the "Required Filings"), and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of other shareholders to trade their securities.

The Company's Board of Directors and management confirm that they are working expeditiously to file the Required Filings and confirm that since the Company's news release dated July 2, 2025, there is no other material information respecting the Company's affairs that has not been generally disclosed.

Until the Required Filings have been filed, the Company 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 Company remains in default of the financial statement filing requirement. In the event that the Company does not file the Required Filings in a timely manner, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Company.

About Supreme Critical Metals Inc.

SUPREME CRITICAL METALS INC. is a publicly traded diversified investment corporation actively exploring and investigating multiple opportunities in lithium, copper, silver, and precious metals. The Company adheres to strategic guidelines that prioritize regions conducive to mining, supported by favourable government regulations and existing infrastructure.

For further information, please contact:

George Tsafalas, Director
Phone: Toll Free 1(778) 373-8578
E-mail: info@supremecritalmetals.com
www.supremecriticalmetals.com

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information"). Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects", "intends", "plans", "may", "will", and similar expressions, although not all forward-looking information contain these identifying words.

More particularly and without limitation, the forward‐looking information in this news release includes: (i) expectations regarding the Company's business plans and operations; (ii) expectations concerning the MCTO; and (iii) expectations regarding the timing of filing the Required Filings. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company.

Whether actual results, performance, or achievements will conform to Supreme's expectations and predictions is subject to a number of known and unknown risks and uncertainties, which could cause actual results and experience to differ materially from Supreme's expectations. Such material risks and uncertainties include, but are not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of this release.

SOURCE: Supreme Critical Metals Inc.

View the original press release on ACCESS Newswire

FAQ

What is the Management Cease Trade Order (MCTO) issued to Supreme Critical Metals (VRCFF)?

The MCTO was issued by the British Columbia Securities Commission on July 2, 2025, preventing the CEO and CFO from trading company securities until required financial filings are completed.

Why did Supreme Critical Metals (VRCFF) receive a Management Cease Trade Order?

The company failed to file its audited annual financial statements, MD&A, and CEO/CFO certifications for the year ended February 28, 2025 on time.

Does the MCTO affect all Supreme Critical Metals (VRCFF) shareholders?

No, the MCTO only affects CEO George Tsafalas and CFO Chris Gulka. Other shareholders can continue trading their securities.

What are the consequences if Supreme Critical Metals (VRCFF) doesn't file the required documents?

If the company fails to file the required documents timely, Canadian Securities Regulatory Authorities may impose an issuer cease trade order on all outstanding securities of the company.

How will Supreme Critical Metals (VRCFF) keep investors informed during the MCTO period?

The company will issue bi-weekly default status reports through press releases until the required financial statements are filed.