Supreme Critical Metals Inc. Provides Second Default Status Update

Rhea-AI Summary

Supreme Critical Metals (OTC:VRCFF) has issued its second bi-weekly default status report regarding the delayed filing of its annual financial statements for the year ended February 28, 2025. The company missed its original filing deadline of June 27, 2025 for its required annual audited financial statements, management's discussion and analysis, and related certifications.

The company's management confirms they are working to complete the Required Filings and states there has been no other material undisclosed information since their July 4 update. Supreme will continue issuing bi-weekly status reports as required by National Policy 12-203. If the company fails to file in a timely manner, regulatory authorities may impose a cease trade order on Supreme's securities.

Positive

• None.

Negative

• Delayed filing of annual financial statements beyond deadline
• Risk of potential cease trade order from regulatory authorities
• Company remains in default of financial statement filing requirement

VANCOUVER, BC / ACCESS Newswire / July 18, 2025 / Supreme Critical Metals Inc. (CSE:CRIT)(FWB:VR61)(OTC PINK:VRCFF) ("Supreme" or the "Company") provides its second bi-weekly Default Status Report under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"), pursuant to which Supreme 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 financial year ended February 28, 2025 (collectively, the "Required Filings"), would be delayed beyond the filing deadline of June 27, 2025.

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 4, 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

Why did Supreme Critical Metals (VRCFF) miss its financial filing deadline?

The press release does not specify the reason for the delayed filing of its annual financial statements due February 28, 2025. The company only states they are working expeditiously to complete the Required Filings.

What are the consequences if Supreme Critical Metals fails to file its required financial statements?

If Supreme Critical Metals does not file the Required Filings in a timely manner, Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the company's outstanding securities.

When was Supreme Critical Metals (VRCFF) supposed to file its annual financial statements?

Supreme Critical Metals was required to file its annual financial statements by June 27, 2025 for the financial year ended February 28, 2025.

What actions is Supreme Critical Metals taking during this default period?

The company is issuing bi-weekly default status reports and working to complete the Required Filings. They will continue to satisfy alternative information guidelines under National Policy 12-203 until the situation is resolved.