Calgary, Alberta--(Newsfile Corp. - February 7, 2025) - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) ("TVI" or the "Company") announces the appointment of Davidson & Company LLC (the "Successor Auditor"), chartered professional accountants, as the Company's new auditor to hold office until the TVI's next annual meeting of shareholders.
The appointment of the Successor Auditor has been approved by the board of directors (the "Board") and the Company's audit committee (the "Audit Committee"), and TVI will seek shareholders ratification of the Successor Auditor's appointment at the next annual meeting of shareholders.
As announced on October 8, 2024, the Company's former auditor, PricewaterhouseCooper LLC (the "Predecessor Auditor"), resigned effective September 6, 2024. The Predecessor Auditor's reports with respect to TVI's financial statements for the fiscal years ended December 31, 2023 and December 31, 2022 did not contain a modified opinion. However, there was a reportable event concerning an unresolved issue, as such terms are defined in National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102"), related to potential whistleblower allegations ("Allegations") involving TVI Resource Development (Phils) Inc. ("TVIRD"), the Company's 30.66% subsidiary, and the tailings incident at the Siana gold mine ("Incident") owned and operated by Greenstone Resources Corporation, a wholly-owned subsidiary TVIRD (see the Company's news release dated October 8, 2024).
The Company has authorized the Predecessor Auditor to respond fully to inquiries by the Successor Auditor concerning the Incident and Allegations.
The Company's reporting package, including the notice of change of auditor, together with the required letters from the Predecessor Auditor and Successor Auditor, each prepared in accordance with Section 4.11 of NI 51-102, are available on TVI's SEDAR+ profile at www.sedarplus.ca.
About TVI Pacific Inc.
TVI is a Canadian resource company focused on mining projects in the Philippines, one of the most prolifically mineralized countries in the world. TVI maintains a strong presence in the Philippines through its 30.66% equity interest in TVIRD, a Philippines corporation. Through TVIRD, TVI has ownership in TVIRD's 100%-owned Balabag gold/silver mine, a currently producing mine, and is focused on ramping up to commercial production at TVIRD's recently restarted 100%-owned Siana gold mine. TVIRD also has in its portfolio of projects its 100%-owned Mapawa project (gold), a 60% indirect interest in the Mabilo project (a copper-gold-iron skarn deposit that offers potential for multi-metal products, namely copper, gold and silver, with by-products magnetite and pyrite), and a 60% interest in Agata Mining Ventures Inc. (nickel/iron DSO mine).
Contact Information:
Michael G. Regino
Chief Executive Officer
TVI Pacific Inc.
Phone: +632-7728-8491
E-mail: Michael.Regino@tvird.com.ph
Cautionary Note Regarding Forward-Looking Information
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements and information are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions.
Forward-looking statements and information in this News Release are based upon the opinions and expectations of management of the Company and, in certain cases, information supplied by third parties as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements or information are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct.
Forward-looking statements and information are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements or information. Accordingly, readers should not place undue reliance upon the forward-looking statements or information contained in this News Release and such information should not be interpreted or regarded as guarantees of future outcomes. These risks and uncertainties include, but are not limited those risks described in detail in the Company's Annual Information Form for the year ended December 31, 2023, which was filed on SEDAR+ on April 29, 2024, and is available under the Company's profile at www.sedarplus.ca, and other matters discussed in News Release.
The forward-looking statements contained in this News Release are made as of the date hereof, and the Company does not undertake any obligation to update or revise any of the included forward-looking statements, except as required by applicable securities laws in force in Canada. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 News Release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240051
SOURCE: TVI Pacific Inc.
