Ceylon Graphite Provides Update On Filing Annual Financial Statements
August 27 2021 - 5:01PM
Ceylon Graphite Corp. (“Ceylon” or the “Company”) (TSX-V: CYL)
(OTC: CYLYF) (FSE: CCY) previously announced in news releases dated
July 30, 2021 and August 13, 2021, the Company has been delayed in
completing its filings of the annual financial statements,
management’s discussion and analysis and related officer
certifications for the financial year ended March 31, 2021 (the
“Annual Filings”). COVID-19 related interruptions and restrictions
in Sri Lanka has caused the delay in the Company’s filings. Sri
Lanka continues to be in the midst of a nation-wide lockdown as a
result of the COVID-19 pandemic. The Company has sought an
extension for filings and was approved for a management cease trade
order by the British Columbia Securities Commission as of July 30,
2021.
In accordance with National Policy 12-203 – Management Cease
Trader Orders (“NP 12-203”), the status of the Annual Filings
remains ongoing and the Company is working diligently with its
auditors towards completing same on or before September 29, 2021.
The Company confirms as of the date of this news release that there
has been no material change in the information contained in the
default announcement issued July 30, 2021, and there is no other
material information concerning the affairs of the Company that has
not been generally disclosed. Until the Annual Filings are
completed, the Company will continue to provide bi-weekly default
status reports in accordance with the provisions of the Alternative
Information Guidelines set out in NP 12-203.
About Ceylon Graphite
Corp.Ceylon Graphite is a public company listed on the TSX
Venture Exchange, that is in the business of mining for graphite,
and developing and commercializing innovative graphene and graphite
applications and products. Graphite mined in Sri Lanka is known to
be some of the purest in the world and has been confirmed to be
suitable to be easily upgradable for a range of applications
including the high-growth electric vehicle and battery storage
markets as well as construction, healthcare and paints and coatings
sectors. The Government of Sri Lanka has granted the Company’s
wholly owned subsidiary Sarcon Development (Pvt) Ltd. an IML
Category A license for its K1 mine and exploration rights in a land
package of over 120km². These exploration grids (each one square
kilometer in area) cover areas of historic graphite production from
the early twentieth century and represent a majority of the known
graphite occurrences in Sri Lanka.
Further information regarding the Company is
available at www.ceylongraphite.com
Don Baxter, Chief
Executive Officerinfo@ceylongraphite.comCorporate Communications1
604-765-8657
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking
information as such term is defined in applicable securities laws,
which relate to future events or future performance and reflect
management's current expectations and assumptions. The
forward-looking information includes statements about Ceylon
Graphite’s grids, Ceylon Graphite’s plans to undertake additional
drilling and to develop a mine plan, and to commence establishing
mining operations. Such forward-looking statements reflect
management's current beliefs and are based on assumptions made by
and information currently available to Ceylon Graphite, including
the assumption that, there will be no material adverse change in
metal prices, all necessary consents, licenses, permits and
approvals will be obtained, including various Local Government
Licenses and the market. Investors are cautioned that these
forward-looking statements are neither promises nor guarantees and
are subject to risks and uncertainties that may cause future
results to differ materially from those expected. Risk factors that
could cause actual results to differ materially from the results
expressed or implied by the forward-looking information include,
among other things, an inability to reach a final acquisition
agreement, inaccurate results from the drilling exercises, a
failure to obtain or delays in obtaining the required regulatory
licenses, permits, approvals and consents, an inability to access
financing as needed, a general economic downturn, a volatile stock
price, labour strikes, political unrest, changes in the mining
regulatory regime governing Ceylon Graphite, a failure to comply
with environmental regulations and a weakening of market and
industry reliance on high quality graphite. Ceylon Graphite
cautions the reader that the above list of risk factors is not
exhaustive.
Ceylon Graphite (TSXV:CYL)
Historical Stock Chart
From Jul 2024 to Aug 2024
Ceylon Graphite (TSXV:CYL)
Historical Stock Chart
From Aug 2023 to Aug 2024