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Vancouver, BC,, Aug. 27, 2024 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon” or the “Firm”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is offering this default standing report in accordance with Nationwide Coverage 12-203 – Administration Stop Commerce Orders (“NP 12-203“). On July 30, 2024, the Firm introduced that it was not ready to file its audited monetary statements, CEO and CFO certifications, and administration dialogue and evaluation (the “Annual Filings”) for the yr ended March 31, 2024 on or earlier than July 29, 2024.
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On July 30, 2024, the British Columbia Securities Fee, as principal regulator, granted the Firm a administration stop commerce order (“MCTO“). The Firm continues to work diligently to finish the audit by September 27, 2024.
Pursuant to NP 12-203, the Firm should file bi-weekly default standing experiences within the type of additional information releases through the interval of the MCTO. The Firm experiences that since its information launch of July 30, 2024, there have been no modifications concerning the data contained in that information launch that may moderately be anticipated to be materials to an investor. The Firm confirms that there have been no failures by it in fulfilling its said intentions with respect to satisfying the provisions of the choice data tips underneath NP 12-203 and that 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 July 30, 2024. Lastly, the Firm additionally confirms that there isn’t a different materials data regarding the affairs of the Firm that has not been typically disclosed as of the date of this press launch.
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About Ceylon Graphite Corp.
Ceylon is a public firm listed on the TSX Enterprise Change that’s within the enterprise of mining for graphite and creating and commercializing revolutionary graphene and graphite functions and merchandise. Graphite mined in Sri Lanka is thought to be a few of the highest grade on this planet and has been confirmed to be appropriate and simply upgradable for a variety of functions together with the high-growth electrical automobile and battery storage markets in addition to building, healthcare and paints and coatings sectors.
Additional data concerning Ceylon is on the market at www.ceylongraphite.com
Sasha Jacob, Chief Govt Officer and Rita Thiel, Chair of the Board of Administrators
information@ceylongraphite.com
Company Communications
+1(604) 924-8695
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch
FORWARD LOOKING STATEMENTS:
This information launch accommodates forward-looking data as such time period is outlined in relevant securities legal guidelines, which relate to future occasions or future efficiency and mirror administration’s present expectations and assumptions. The forward-looking data contains the Firm’s enterprise targets, the anticipated date of submitting of the Annual Filings, timing of issuance of bi-weekly default standing experiences, the prospect of commercialization of graphite and graphene functions and merchandise, and the speed or presence of development within the electrical automobile and battery storage markets. Such forward-looking statements mirror administration’s present beliefs and are based mostly on assumptions made by and data presently obtainable to Ceylon, together with the belief that will probably be no materials hostile modifications effecting growth and manufacturing on Ceylon’s mineral properties,
there will probably be no materials hostile change in graphite and steel costs, there will probably be continued and growing demand for graphite powered batteries and different merchandise which require graphite, all essential consents, licenses, permits and approvals will probably be obtained, together with varied Native Authorities Licenses, and every little thing required to finish the Firm’s audit will probably be obtained by the Firm and its auditors in a well timed method. Buyers are cautioned that these forward-looking statements are neither guarantees nor ensures and are topic to dangers and uncertainties that will trigger future outcomes to vary materially from these anticipated. Threat elements that might trigger precise outcomes to vary materially from the outcomes expressed or implied by the forward-looking data embody, amongst different issues, failure to acquire every little thing required to finish the Firm’s audit, failure of the Firm’s auditor to finish its audit of the Firm earlier than the anticipated date of submitting, failure to acquire or keep patents and proprietary expertise, loss or failure to accumulate obtainable top quality graphite, any failures to acquire or delays in acquiring required regulatory licenses, permits, approvals and consents, an incapability to entry financing as wanted, a basic financial downturn, a risky inventory worth, labour strikes, political unrest, modifications within the mining regulatory regime governing Ceylon, a failure to adjust to environmental rules and a weakening of market and business reliance on top quality graphite. Ceylon cautions the reader that the above record of danger elements just isn’t exhaustive.
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