Supreme Critical Metals Inc. Provides Default Status Update
Supreme Critical Metals (OTCID:VRCFF) has received a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission on July 2, 2025. The MCTO restricts the CEO George Tsafalas and CFO Chris Gulka from trading company securities until the company files its required financial statements for the year ended February 28, 2025.
The order does not affect other shareholders' ability to trade. The company commits to providing bi-weekly status updates and confirms there is no undisclosed material information. If Supreme fails to file the required documents timely, regulators may impose a broader issuer cease trade order.
Supreme Critical Metals (OTCID:VRCFF) ha ricevuto un Ordine di Sospensione del Trading per la Direzione (MCTO) dalla British Columbia Securities Commission il 2 luglio 2025. Questo ordine vieta al CEO George Tsafalas e al CFO Chris Gulka di negoziare titoli della società fino alla presentazione dei bilanci annuali relativi all'esercizio chiuso al 28 febbraio 2025.
L'ordine non limita la capacità di negoziazione degli altri azionisti. La società si impegna a fornire aggiornamenti sullo stato della situazione ogni due settimane e conferma che non vi sono informazioni materiali non divulgate. Se Supreme non presenterà i documenti richiesti entro i termini, i regolatori potrebbero emettere un ordine di sospensione del trading più ampio per l'emittente.
Supreme Critical Metals (OTCID:VRCFF) ha recibido una Orden de Suspensión Comercial para la Dirección (MCTO) por parte de la Comisión de Valores de British Columbia el 2 de julio de 2025. La MCTO restringe al CEO George Tsafalas y al CFO Chris Gulka de negociar valores de la empresa hasta que se presenten los estados financieros requeridos para el año terminado el 28 de febrero de 2025.
La orden no afecta la capacidad de otros accionistas para negociar. La empresa se compromete a proporcionar actualizaciones quincenales sobre el estado y confirma que no existe información material no divulgada. Si Supreme no presenta los documentos requeridos a tiempo, los reguladores podrÃan imponer una orden de suspensión comercial más amplia para el emisor.
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Supreme Critical Metals (OTCID:VRCFF) a reçu une Ordonnance de Suspension de Négociation pour la Direction (MCTO) de la Commission des valeurs mobilières de la Colombie-Britannique le 2 juillet 2025. Cette ordonnance interdit au PDG George Tsafalas et au directeur financier Chris Gulka de négocier les titres de la société jusqu'à ce que les états financiers requis pour l'exercice clos le 28 février 2025 soient déposés.
L'ordonnance n'affecte pas la capacité des autres actionnaires à négocier. La société s'engage à fournir des mises à jour bihebdomadaires sur l'état d'avancement et confirme qu'il n'y a pas d'informations importantes non divulguées. Si Supreme ne soumet pas les documents requis dans les délais, les régulateurs pourraient imposer une ordonnance de suspension de négociation plus large pour l'émetteur.
Supreme Critical Metals (OTCID:VRCFF) hat am 2. Juli 2025 von der British Columbia Securities Commission eine Management-Handelssperre (MCTO) erhalten. Die MCTO untersagt dem CEO George Tsafalas und dem CFO Chris Gulka den Handel mit Unternehmenswertpapieren, bis das Unternehmen die erforderlichen Jahresabschlüsse für das am 28. Februar 2025 endende Geschäftsjahr eingereicht hat.
Die Anordnung betrifft nicht die Handelsfähigkeit anderer Aktionäre. Das Unternehmen verpflichtet sich, alle zwei Wochen Statusupdates bereitzustellen und bestätigt, dass keine nicht veröffentlichte wesentliche Information vorliegt. Sollte Supreme die erforderlichen Dokumente nicht fristgerecht einreichen, könnten die Aufsichtsbehörden eine umfassendere Handelssperre für den Emittenten verhängen.
- None.
- Company failed to file required annual financial statements and related documents on time
- Management Cease Trade Order (MCTO) imposed on CEO and CFO
- Risk of potential broader cease trade order if compliance not achieved
VANCOUVER, BC / / July 4, 2025 / Supreme Critical Metals Inc. (CSE:CRIT)(FWB:VR61)(OTCID:VRCFF) ("Supreme" or the "Company") announces that further to its news releases dated June 20, 2025, June 27, 2025 and July 2, 2025, the Company's principal regulator, the British Columbia Securities Commission (the "BCSC") granted a management cease trade order (the "MCTO") on July 2, 2025, under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). Pursuant to the MCTO, George Tsafalas, the Chief Executive Officer, and Chris Gulka, the Chief Financial Officer, may not trade in securities of the Company until such time as the Company files its audited annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the financial year ended February 28, 2025 (collectively, the "Required Filings"), and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of other shareholders to trade their securities.
The Company's Board of Directors and management confirm that they are working expeditiously to file the Required Filings and confirm that since the Company's news release dated July 2, 2025, there is no other material information respecting the Company's affairs that has not been generally disclosed.
Until the Required Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement. In the event that the Company does not file the Required Filings in a timely manner, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Company.
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: [email protected]
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 forwardâ€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.
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