Newlox Provides Update On Status Of Financial Statements
(TheNewswire)
September 24, 2025 - TheNewswire- Vancouver, British Columbia – Newlox GoldVentures Corp. (the “Corporation”) is providing this bi-weeklydefault status report in accordance with National Policy 12-203 –Cease Trade Orders forContinuous Disclosure Defaults (“NP12-203”). In its initial default announcement of July 30, 2025 (the“Default Notice”), the Corporation announced that it will not beable to file its audited financial statements for its fiscal yearended March 31, 2025 (the “Annual Financial Statements”), andaccompanying management’s discussion and analysis and related ChiefExecutive Officer and Chief Financial Officer certificates relatingthereto (collectively, the “Required Filings”) before theprescribed deadline of July 29, 2025.
As previously announced, the Corporation made anapplication to the applicable securities regulators under NP 12-203requesting that a management cease trade order (“MCTO”) be imposedin respect of this late filing. On July 30, 2025, the BritishColumbia Securities Commission (“BCSC”) issued a temporary MCTO,which prohibits the Chief Executive Officer and the Chief FinancialOfficer from trading in securities of the Corporation for so long asthe Required Filings are not filed. The issuance of an MCTO does notgenerally affect the ability of persons who are not directors,officers or other insiders of the Corporation to trade in theCorporation’s securities.
As previously announced, the delay in filing theRequired Filings is principally related to the Corporation’s recentchange of management and the difficulty in obtaining necessarydocuments from Costa Rica for the audit.
The Corporation has previously provided its auditors,Dale Matheson Carr-Hilton Labonte LLP (“DMCL”), with draftfinancial statements and additional materials for theirreview. DMCL hassubsequently informed the Corporation that due to staffing andscheduling constraints, they cannot guarantee completion of the auditprocess in time for the Corporation to meet the September 29, 2025filing deadline for the Required Filings (the “MCTO FilingDeadline”). These staffing and scheduling issues were not known tothe Corporation at the time the MCTO was filed.
In response to this development, the Corporation hasformally requested that the BCSC grant a two-week extension for filingthe Required Filings. The Corporation remains committed to completingand filing all required documents as promptly as possible. Should theCorporation be unable to file the Required Filings by the MCTO FilingDeadline, the BCSC may impose a cease trade order on theCorporation's securities in accordance with applicable securitiesregulations.
Despite the Corporation providing its auditors,Dale Matheson Carr-Hilton Labonte LLP(“DMCL”), with draft financial statementsand additional materials,DMCL has advised the Corporation that, due to staffing and schedulingissues, there can be assurance that the Required Filings will be filedon or before September 29, 2025 (the “MCTO Filing Deadline”). TheCorporation was not aware of these issues at the time of filing of theMCTO. The Corporation has requested that the BCSC grant theCorporation an extension of an additional two (2) weeks to file theRequired Filings. If the Corporation is unable to file the RequiredFilings on or before the MCTO Fining Deadline, the BCSC may impose acease trade order against all of the Corporation’ssecurities.
Other than as set out herein, the Corporation reportsthat since the Default Notice: (i) there is no material change to theinformation set out in the Default Notice that has not been generallydisclosed; (ii) there has been no failure by the Corporation infulfilling its stated intentions with respect to satisfying theprovisions of the alternative information guidelines set out in NP12-203; (iii) there has not been any other specified default by theCorporation under NP 12-203; and (iv) there is no other materialinformation concerning the affairs of the Corporation that has notbeen generally disclosed.
The Corporation will continue to satisfy the provisionsof the alternative information guidelines under NP 12-203 by issuingbi-weekly default status reports in the form of news releases so longas it remains in default of the filing requirements set outabove.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is an emerging preciousmetals producer dedicated to the recovery of gold and silver fromartisanal and small-scale mining operations across Latin America. TheCompany leverages technology to recover precious metals whileremediating historical mine waste and contributing to local economicdevelopment.
On Behalf of the Board,
Newlox Gold Ventures Corp.
Website: www.newloxgold.com
Telephone: 647.848.5843
Email: info@newloxgold.com
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider have reviewed or acceptresponsibility for the adequacy or accuracy of this release.
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