Infinity working on late financials, MCTO extended

Infinity Stone Ventures Corp (2) (C:GEMS) 
Shares Issued 46,481,091
Last Close 1/29/2024 $0.02
Monday January 29 2024 - News Release

Mr. Glenn Giles reports

INFINITY STONE ANNOUNCES EXTENSION OF MANAGEMENT CEASE TRADE ORDER

On Jan. 2, 2024, Infinity Stone Ventures Corp. was granted a management cease trade order (MCTO) from the British Columbia, Alberta and Ontario securities commissions under National Policy 12-203 -- Cease Trade Orders for Continuous Disclosure Defaults, prohibiting trading securities of the company by certain individuals until such time as the required filings (defined below) and all continuous disclosure requirements have been filed by the company and the MCTO has been lifted. The company is required to provide an update every two weeks.

While the MCTO is effective, all management, officers and directors of the company will be prohibited from trading in the company's securities, but the general public, who are not insiders of the company, will continue to be able to trade in the company's listed securities.

The Company was unable to file its audited financial statements for the year ended August 31, 2023, and the related Management's Discussion and Analysis, and Chief Executive Officer and Chief Financial Officer certificates for this period before the Dec. 29, 2023, filing deadline. 

The Company is also unable to file its interim financial statements for the quarter ending November 30, 2023, and the related Management's Discussion and Analysis, and Chief Executive Officer and Chief Financial Officer certificates for the quarter before the January 29, 2024, filing deadline.

The Company's failure to file its required filings by the filing deadline is due to recent financial difficulties affecting the issuer's ability to finance its audit and recent changes to the Company's management, including a change in the Company's Chief Financial Officer. The Company anticipates that it will be in a position to file the required filings on or about February 29, 2024 as per direction from the Company bookkeeper and previous CFO. The MCTO will be in effect until the required filings are filed.

The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed. The Company will provide updates as further information relating to the annual and quarterly financial filings becomes available. The company intends to satisfy the provision of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 as long as the required filings are outstanding.

About Infinity Stone Ventures 

Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.