Altima Announces Delay In Filing Audited Annual Financial Statements And Management's Discussion And Analysis

2025-07-02 08:06:27

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - Altima Energy Inc. (TSXV: ARH) ("Altima" or the "Company") announces that it has been unable to file its audited annual financial statements, management's discussion and analysis and related certifications in addition to its NI 51-101 Disclosure for Oil & Gas Activities (the " Issuer Statements "), for the financial year ended February 28, 2025 on or before the filing deadline of June 30, 2025, as a result of technical issues resulting in the Company's accounting staff obtaining all the necessary documents for the Company's auditors to complete their work in respect of the audit of the Issuer Statements.

Upon application by the Company, the British Columbia Securities Commission (" BCSC ") today has issued a management cease trade order under the provisions of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults (" NP 12-203 ") so as to permit the continued trading in the Company's common shares by persons other than insiders and employees of the Company. The Company's finance and accounting teams are working diligently with its auditors, and the Company expects to have the audit of the Issuer Statements completed, and the Issuer Statements filed, on or around August 29, 2025.

The Company confirms that it intends to satisfy the provisions of NP 12-203 and issue bi-weekly default status reports for so long as the Company remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Company to remedy the default, particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of the Company requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed. The Company is not subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Company that has not been generally disclosed.

On behalf of the Board of Directors,

Altima Energy Inc.

MENAFN02072025004218003983ID1109754577

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