London
23 °C
Manchester
20 °C
Glasgow
Dublin
Belfast
17 °C
Washington
30 °C
Denver
Atlanta
32 °C
Dallas
36 °C
Houston Texas
New Orleans
El Paso
35 °C
Phoenix
Los Angeles
27 °C
27 °C
13 °C
7 °C
Adriatic Metals Files Application to Cease to Be a Reporting Issuer
NYSE - LSE
Adriatic Metals Files Application to Cease to Be a Reporting Issuer
Adriatic Metals PLC (the "Company") advises that it has applied to the British Columbia Securities Commission, as principal regulator, and the Alberta Securities Commission (collectively, the "Canadian Securities Regulatory Authorities") for an order (the "Requested Order") that the Company cease being a reporting issuer in British Columbia and Alberta (collectively, the "Jurisdictions"). On October 7, 2020, the Company completed a plan of arrangement (the "Arrangement") with Tethyan Resource Corp. ("TRC"), a corporation incorporated under the laws of British Columbia that was, at the time, a reporting issuer in British Columbia and Alberta, and whose shares were listed on the TSX Venture Exchange. Following completion of the Arrangement, TRC became a wholly-owned subsidiary of the Company and the Company became a reporting issuer in the Jurisdictions. The Company is not a reporting issuer in any other Canadian jurisdiction.
If the Requested Order is granted by the Canadian Securities Regulatory Authorities, the Company will cease being a reporting issuer in Canada. As a result, the Company will no longer be required to file financial statements and other continuous disclosure documents in Canada pursuant to Canadian securities laws.
If the Requested Order is obtained, the Company will continue to file all financial statements and other continuous disclosure materials that it is required to file pursuant to the applicable laws of Australia and the United Kingdom and the rules of the Australian Securities Exchange ("ASX") and London Stock Exchange ("LSE"). Canadian resident securityholders will continue to have access to all financial statements and other continuous disclosure documents required to be filed publicly by the Company on the ASX and LSE as required by applicable laws of Australia and the United Kingdom. All such continuous disclosure documents of the Company are publicly available to all Company securityholders on the Company's website at www.adriaticmetals.com, and the Company's securityholders resident in Canada will continue to receive copies of the continuous disclosure documents that are required to be delivered to securityholders in Australia and the United Kingdom, in the same manner and at the same time as are required under the applicable securities laws of Australia and the United Kingdom and the rules of the ASX and LSE.
Given that the Company qualifies as a "designated foreign issuer" under National Instrument 71-102 - Continuous Disclosure and Other Exemptions Relating to Foreign Issuers, the disclosure available to Canadian-resident securityholders will be substantially the same as the continuous disclosure to which such securityholders currently have access.
Forward Looking Statements
The information in this release is not intended to guide any investment decisions in Adriatic Metals PLC. This material contains certain forward-looking information, including the possible granting of the Requested Order by the Canadian Securities Regulatory Authorities and, if the Requested Order is obtained, the availability of the Company's financial statements and continuous disclosure materials to Canadian resident securityholders, whether such financial statements and continuous disclosure materials will be substantially the same as those to which Canadian resident securityholders currently have access, the applicability of resale restrictions to the Company's ordinary shares and the availability of exemptions to same. Such information is not a guarantee of future events and involves many risks and uncertainties, as well as other factors. Actual developments may differ materially from those implied or expressed by these statements and are dependent on a variety of factors. The Company believes that it has a reasonable
basis for making the forward looking statements contained in the announcement, based on the information contained in this and previous releases.
ABOUT ADRIATIC METALS PLC
Adriatic Metals Plc is a precious and base metals developer that is advancing the world-class Vares Silver Operation in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia. First concentrate production took place in February 2024 and the Vares Silver Operation is fully funded to nameplate production, which is expected in Q4 2024. Concurrent with ongoing operational activities, the Company continues to explore across its highly prospective 44km2 concession package.
CONTACT INFORMATION
Adriatic Metals Plc
Klara Kaczmarek
GM - Corporate Development
Tel: +44 (0) 7859 048228
[email protected]
SOURCE: Adriatic Metals
Q.Escribano--HdM
