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HALIFAX, Nova Scotia, July 14, 2025 (GLOBE NEWSWIRE) — ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the “Company” or “Elcora”), announces today that, as a result of delays to its audit, the Company’s annual financial statements and accompanying management’s discussion and analysis for the fiscal year ended March 31, 2025 (the “Annual Filings”) may not be finalized by July 29, 2025, being the date that such filings are due under applicable Canadian securities law requirements. Accordingly, the Company will apply to the Nova Scotia Securities Commission for a management cease trade order (the “MCTO”).
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The Company’s inability to finalize its Annual Filings on time is due to a delay in receiving sufficient information from the issuer’s 100% wholly owned subsidiary, Ermazon SARL, that is located in Morocco.
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If the MCTO is granted, the Company will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue biweekly default status reports by way of a news release so long as the Annual Filings have not been filed. During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, the Company’s Chief Executive Officer, Chief Financial Officer, and directors will not be able to trade in the Company’s common shares.
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The Company will provide an update on its application of the MCTO in an upcoming news release.
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About Elcora Advanced Materials Corp.
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Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine, and produce battery related minerals and metals. As part of the vertical integration strategy, Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery minerals and metals industry.
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For further information please visit the company’s website at: http://www.elcoracorp.com
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For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847
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Qualifying Statements: Klaus Leiders P. Eng., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.
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CAUTIONARY STATEMENT:
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither TSX
Venture
Exchange
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Regulation
Services
Provider
(as
that
term
is
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TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained
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