Supreme Critical Metals Inc. Provides Update on Late Filing of Annual Financial Disclosure
Supreme Critical Metals (OTC:VRCFF) announced a delay in filing its required annual financial statements, MD&A, and certifications for the year ended February 28, 2025, missing the June 27, 2025 deadline. The company has secured interim financing from management and related parties to address its working capital deficiency and engage auditors.
Supreme has applied for a management cease trade order (MCTO) with the British Columbia Securities Commission, which would restrict insiders from trading company securities. The company expects to file the required documents by August 29, 2025 and will comply with alternative information guidelines while in default.
Supreme Critical Metals (OTC:VRCFF) ha annunciato un ritardo nella presentazione dei suoi rendiconti finanziari annuali, MD&A e certificazioni per l'anno terminato il 28 febbraio 2025, mancandone la scadenza del 27 giugno 2025. La società ha ottenuto un finanziamento temporaneo da parte della direzione e soggetti correlati per affrontare la carenza di capitale circolante e procedere con la revisione contabile.
Supreme ha richiesto un ordine di sospensione del commercio per la direzione (MCTO) alla British Columbia Securities Commission, che limiterà gli insider dal negoziare i titoli della società. L'azienda prevede di presentare i documenti richiesti entro il 29 agosto 2025 e si atterrà alle linee guida alternative sull'informazione durante il periodo di inadempienza.
Supreme Critical Metals (OTC:VRCFF) anunció un retraso en la presentación de sus estados financieros anuales, MD&A y certificaciones correspondientes al año finalizado el 28 de febrero de 2025, incumpliendo la fecha límite del 27 de junio de 2025. La empresa ha asegurado un financiamiento provisional de la gerencia y partes relacionadas para cubrir su déficit de capital de trabajo y contratar a los auditores.
Supreme ha solicitado una orden de suspensión comercial para la gerencia (MCTO) ante la Comisión de Valores de Columbia Británica, que restringiría a los insiders de negociar valores de la compañía. La empresa espera presentar los documentos requeridos antes del 29 de agosto de 2025 y cumplirá con las directrices alternativas de información durante el incumplimiento.
Supreme Critical Metals (OTC:VRCFF)는 2025년 2월 28일 종료된 연도에 대한 연례 재무제표, MD&A 및 인증서 제출이 2025년 6월 27일 마감일을 놓쳐 지연되었음을 발표했습니다. 회사는 운전자본 부족 문제를 해결하고 감사인을 선임하기 위해 경영진 및 관련 당사자로부터 임시 자금 조달을 확보했습니다.
Supreme은 영국령 콜롬비아 증권위원회에 경영진 거래중지명령(MCTO)을 신청했으며, 이는 내부자가 회사 증권 거래를 제한하는 조치입니다. 회사는 2025년 8월 29일까지 필요한 서류를 제출할 예정이며, 미이행 기간 동안 대체 정보 지침을 준수할 것입니다.
Supreme Critical Metals (OTC:VRCFF) a annoncé un retard dans le dépôt de ses états financiers annuels, MD&A et certifications pour l'exercice clos le 28 février 2025, manquant la date limite du 27 juin 2025. La société a obtenu un financement provisoire de la part de la direction et des parties liées pour combler son déficit de fonds de roulement et engager les auditeurs.
Supreme a demandé une ordonnance de cessation de négociation pour la direction (MCTO) auprès de la British Columbia Securities Commission, ce qui restreindrait les initiés dans la négociation des titres de l'entreprise. La société prévoit de déposer les documents requis d'ici le 29 août 2025 et respectera les directives alternatives d'information pendant la période de défaut.
Supreme Critical Metals (OTC:VRCFF) gab eine Verzögerung bei der Einreichung der erforderlichen Jahresabschlüsse, MD&A und Zertifizierungen für das am 28. Februar 2025 endende Jahr bekannt und verpasste die Frist am 27. Juni 2025. Das Unternehmen hat eine Zwischenfinanzierung durch das Management und verbundene Parteien gesichert, um seine Liquiditätslücke zu beheben und die Wirtschaftsprüfer zu beauftragen.
Supreme hat bei der British Columbia Securities Commission einen Management-Handelsstopp (MCTO) beantragt, der Insidern den Handel mit Unternehmenswertpapieren untersagen würde. Das Unternehmen plant, die erforderlichen Unterlagen bis zum 29. August 2025 einzureichen und wird während des Ausstands alternative Informationsrichtlinien einhalten.
- Secured interim financing from management to address working capital deficiency
- Company confirms no insolvency proceedings are ongoing
- Delayed filing of annual financial statements beyond June 27 deadline
- Working capital deficiency requiring emergency financing
- Potential trading restrictions through management cease trade order
- Risk of default on continuous disclosure obligations
VANCOUVER, BC / ACCESS Newswire / June 27, 2025 / Supreme Critical Metals Inc. (CSE:CRIT)(FWB:VR61)(OTC PINK:VRCFF) ("Supreme" or the "Company") provides an update to its news release dated June 20, 2025, which announced the filing of its audited annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the financial year ended Feburary 28, 2025 (the "Required Filings") will be delayed beyond the filing deadline of June 27, 2025, and as a result will be in default of its obligations under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations. The Company has addressed its working capital deficiency by way of an interim finaincing from management and other related parties (the "Interim Financing"). As a result of obtaining the Interim Financing, the Company has been able to engage its auditor to begin its audit work required to complete the Required Filings.
The Company has made an application to the British Columbia Securities Commission (the "BCSC") for a management cease trade order (the "MCTO"), which would restrict all trading in securities of the Company, whether direct or indirect, by management of the Company. The MCTO does not generally affect the ability of shareholders who are not insiders of the Company to trade their securities. There is no certainty that the MCTO will be granted.
The Company is working expeditiously to complete the audit of its 2024 annual financial statements as soon as possible. Supreme plans to remedy the default and file the Required Filings as soon as it is able to do so and expects such filing to occur on or prior to August 29, 2025. The Company also intends to satisfy the provisions of the alternative information guidelines of Section 10 of National Policy 12-203 Management Cease Trade Orders as long as it is in default of the filing requirements.
The Company confirms that there are no insolvency proceedings against it as of the date of this press release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.
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 is Supreme Critical Metals (VRCFF) delaying its annual financial filings?
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