Toronto, Canada (June 2, 2016) – Mammoth Resources Corp. (TSX-V: MTH) would like to announce that it has been granted a Management Cease Trade Order (MCTO) as a result of the company’s late filing of its year-end audited financial statements and accompanying Management Discussion and Analysis which is due to have been completed and filed on May 31, 2016 for the company’s fiscal year end dated January 31.
The reason for the default in filing these statements prior to the required date is that the company had in sufficient funds to pay for such audit as it was in the midst of a financing to raise the capital to pay, among other items, the cost of this audit. As of the date of this announcement such funds have been committed to the Company and an arrangement with the auditor has been made to commence the audit.