Abcourt Mines Management Cease Trade Order Issued

Abcourt Mines Inc. announced it has applied for and expects to be granted a management cease trade order (MCTO) from the Autorité des marchés financiers (AMF) of Québec, effective October 31, 2023. This order prohibits the company's Chief Executive Officer, Chief Financial Officer, and directors from trading Abcourt's securities until the company files its audited consolidated financial statements, management's discussion and analysis, and relevant CEO and CFO certificates for the fiscal year ended June 30, 2023.

The MCTO does not impact shareholders' ability to trade their securities. Abcourt anticipates filing the required documents by November 15, 2023, and will issue default status reports every two weeks until the order is revoked. The company intends to satisfy alternative information guidelines set forth in Policy Statement 12-203.

The delay stems from the acquisition of Pershimex Resources Corporation in May 2023, which necessitates consolidating Pershimex's financial statements. Abcourt's auditors have encountered challenges in completing the audit for the year ended June 30, 2023, though they anticipate finalizing it during the week of October 30th.

Abcourt Mines Inc. is a Canadian exploration company focused on properties in northwestern Québec. The company's primary operational hub is the Sleeping Giant mill and mine.