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VANCOUVER, British Columbia, Might 03, 2024 (GLOBE NEWSWIRE) — Extremely Lithium Inc. (TSXV: ULT OTCQB: ULTXF Frankfurt: QFB) (“Extremely Lithium” or the “Firm”) is offering this bi-weekly default standing report in accordance with Nationwide Coverage 12-203 Administration Stop Commerce Orders (“NP 12-203”). On March 4, 2024, the Firm introduced that efficient February 29, 2024 it has been granted a voluntary administration stop commerce order in accordance with NP 12-203 because of it not with the ability to file its annual monetary statements and administration’s dialogue and evaluation (“MD&A”) for the 12 months ended October 31, 2023, and the associated CEO and CFO certifications (collectively, the “Annual Filings”) on SEDAR inside 120 days of its monetary year-end. The administration stop commerce order has been granted by the Firm’s principal regulator, the British Columbia Securities Fee.
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The Firm was not capable of full the year-end audit throughout the time intervals required by Nationwide Instrument 51-102 as a result of delay in commencing the audit proudly owning to inadequate funds. Because of this, the Firm requires extra time to file the Annual Filings.
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The Firm has obtained a mortgage financing and has commenced the annual audit. The Firm skilled some delays acquiring paperwork from Argentina that its auditors require to finish the audit. The Firm utilized for and acquired an extension of the MCTO to Might 13, 2024. The related paperwork have now been supplied to the auditors. The Firm expects to file its Annual Filings as quickly as they’re obtainable, however in any occasion no later than Might 13, 2024, and can difficulty a information launch as soon as they’ve been filed.
Pursuant to NP 12-203, the Firm should file bi-weekly default standing reviews within the type of additional information releases throughout the interval of the MCTO. The Firm reviews that it’s working diligently with its auditors to finish the audit in a well timed method and since its information launch of March 4, 2024, there have been no materials modifications concerning the knowledge contained in that information launch. The Firm confirms there have been no failures by the Firm in fulfilling its acknowledged intentions with respect to satisfying the provisions of the choice data tips beneath NP 12-203, and there has not been, neither is there anticipated to be, any specified default subsequent to the default introduced within the Firm’s information launch of March 4, 2024. The Firm additionally confirms that there is no such thing as a different materials data regarding the affairs of the Firm that has not been typically disclosed as of the date of this information launch.
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About Extremely Lithium Inc.
Extremely Lithium Inc. is an exploration and improvement firm with a concentrate on the acquisition and improvement of lithium, gold, and copper belongings. The Firm holds a brine lithium property in Argentina, onerous rock spodumene sort lithium properties on the Georgia Lake / Forgan Lake space in northwestern Ontario, Canada, and a brine lithium property within the Huge Smoky Valley, Nevada, USA. The Firm additionally holds different gold and base metals properties in Argentina.
ON BEHALF OF THE BOARD OF DIRECTORS
“Kiki Smith”
Kiki Smith, CFO, Director
For additional data, please contact the Firm at:
Consideration: Kiki Smith
Phone: 778 968-1176
E mail: kiki@ultralithium.com
Web site: www.ultralithium.com
or view the Firm’s filings at www.SEDARPLUS.ca.
Cautionary Assertion Concerning “Ahead-Trying” Info
A few of the statements contained on this press launch are forward-looking statements and knowledge throughout the that means of relevant securities legal guidelines. Ahead-looking statements and knowledge will be recognized by way of phrases reminiscent of “plans”, “expects”, “intends”, “is predicted”, “potential”, “suggests” or variations of such phrases or phrases, or statements that sure actions, occasions or outcomes “could”, “may”, “ought to”, “would”, “would possibly” or “will” be taken, happen or be achieved. Ahead-looking statements and knowledge are usually not historic information and are topic to various dangers and uncertainties past the Firm’s management. Precise outcomes and developments are prone to differ and should differ materially from these expressed or implied by the forward-looking statements contained on this information launch. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The Firm undertakes no obligation to replace publicly or in any other case revise any forward-looking statements, besides as could also be required by regulation.
Neither TSX Enterprise Trade nor its Rules Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
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