Gratomic Inc., the owner of the Aukam graphite mine in Namibia, has failed to file its Annual Audited Consolidated Financial Statements and Management Discussion & Analysis (MD&A) for the fiscal year ending December 31, 2024.
The company attributes the delay to a lack of available funding, which has hindered its ability to pay auditors and accountants necessary to complete the financial disclosures on time.
To avoid a full cease trade order on all of its securities, Gratomic has applied for a Management Cease Trade Order (MCTO).
If granted, the MCTO would restrict trading by the company’s CEO, CFO, directors, officers, and insiders, while allowing the general public to continue trading the company’s shares.
Gratomic says it is actively working with its financial team to finalize the audit and aims to file the outstanding documents on SEDAR+ by June 30, 2025.
In the meantime, the company will comply with the Alternate Information Guidelines by issuing bi-weekly default status updates through press releases.
Gratomic confirmed it is not undergoing insolvency proceedings and that there is no other undisclosed material information regarding its affairs.
However, if the required financial disclosures are not filed by the end of June, the Ontario Securities Commission may issue a cease trade order affecting all of the company’s securities.
