BARU Gold Receives Approval for MTCO

January 4, 2024

Further to Baru Gold Corp.'s news release of Dec. 28, 2023, the company's request for a management cease trade order (MCTO) has received approval. The request was made as the company was not able to file its audited annual financial statement for the period ended Aug. 31, 2023, and its MD&A (management's discussion and analysis) by the filing deadline of Dec. 29, 2023, and, as a result, is in default of its obligations under National Instrument 51-102, Continuous Disclosure Obligations.

The company has been granted approval from the British Columbia Securities Commission for the MCTO under National Policy 12-203, Management Cease Trade Orders. The company applied for an MCTO as the company required additional time to raise the necessary capital to finance its annual audit within the time frame to file on or before Dec. 29, 2023. All the audit work has been completed and once the auditor is paid, the annual filings will be made.

The company expects to file the annual filings as soon as funds are available, but in any event on or before Feb. 27, 2024 (two-month period contemplated by NP 12-203).

Until the company files the annual filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the company to issue biweekly default status reports, in the form of news releases, for so long as the annual filings have not been filed.

The company wishes to reiterate that during the MCTO, the general investing public will continue to be able to trade in the company's common shares listed on the Canadian Securities Exchange. However, the company's chief executive officer and chief financial officer, and such other directors, officers and persons, as determined by the applicable regulatory authorities, will not be able to trade in the company's shares, nor will the company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the company until such time as the annual filings and all continuous disclosure requirements have been filed by the company, and the MCTO has been lifted.


Per:    “Terry Filbert”            
Terry Filbert, Director

President & CEO

For investor contacts more information, please contact: 

Kevin Shum
Investor Relations
647-725-3888 ext 702

Subscribe for News Updates