Altima Energy Inc. Announces Issuance Of Cease Trade Order

2025-09-07 03:10:08

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - September 7, 2025) - Altima Energy Inc. (TSXV: ARH) ("Altima" or the "Company") announces that the British Columbia Securities Commission issued a cease trade order against the Company effective September 3, 2025, as the Company 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 for the financial year ended February 28, 2025 and for the first quarter for the period ended May 31, 2025 (collectively, the " Filings ") due to continued 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. As a result of the cease trade order, the TSX Venture Exchange (the " Exchange ") suspended trading in the Company's securities on September 4, 2025.

The Company regrets this unnecessary delay in filing and the inconvenience to shareholders and is working with its auditors to file the Required Filings as soon as possible. It is expected that the Required Filings will be completed on or before the end of October 2025. The cease trade order will remain in place until such time as it is fully revoked following the filing of the Required Filings by the Company, in accordance with National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. Reinstatement to trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.

The Company will make further announcements with respect to the status of the Required Filings as and when appropriate.

About Altima Energy Inc.

Altima Energy is a Vancouver-headquartered oil and gas exploration and production company with a strategic focus on unlocking the potential of hydrocarbon assets across North America. Committed to efficient resource development, Altima combines cutting-edge technology and industry expertise to drive operational excellence and deliver sustainable growth. With a focus on long-term value creation, Altima is dedicated to enhancing returns for its shareholders while maintaining a disciplined approach to asset management.

ON BEHALF OF THE BOARD

SIGNED: "Richard Barnett"

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