January 7, 2025, Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV) (FRA: O4T) (OTCQB: MARVF) (the “Company”) announces that as a result of delays in the completion of its audit, the Company was unable to file its financial statements and accompanying management’s discussion and analysis, and CEO
/ CFO certifications, for the fiscal year ended August 31, 2024 (collectively, the “Annual Filings”) by December 30, 2024, being the date that such filings were due under applicable Canadian securities legislation. The late filing is due, in part, to the Company’s auditors shutting down operations over the Christmas holidays.
In response to the reporting delay, the Company applied to and received from the British Columbia Securities Commission a management cease trade order (the “MCTO”) which restricts certain management from trading in securities of the Company until the Annual Filings are filed. The Company is working with its auditors to complete the Annual Filings and will issue a press release announcing completion of these filings when such occurs. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order. The guidelines, among other things, require the Company to issue biweekly default status reports by way of a news release for as 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 shares.
The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on July 30, 2024, of the Company’s latest interim financial reports for the period ended May 31, 2024.
The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on July 30, 2024, of the Company’s latest interim financial reports for the period ended May 31, 2024.
Marvel Discovery Corp.
“Karim Rayani”
Chief Executive Officer, Director Tel: 604 716 1036
Email: info@marveldiscovery.ca
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.