General Moly, Inc. (TSE:GMO) Files An 8-K Other Events
Item 8.01
General Moly, Inc. (TSE:GMO) Files An 8-K Other Events
Other Events.
On November 20, 2020, the Ontario Securities Commission issued a general “failure to file” cease trade order (“CTO”) in respect of the securities of General Moly, Inc. (the “Company”) as a result of the Company’s failure to file its Form 10-Q for the quarter ended September 30, 2020 (the “Form 10-Q”), the related management’s discussion and analysis of financial condition and results of operations, and required certifications by the filing deadline. The CTO is effective as of November 20, 2020 and will remain in place unless and until the Form 10-Q is filed. The CTO prohibits the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer for as long as the CTO remains in effect; however, the CTO provides an exception for beneficial security holders of the Company who are not currently (and who were not as of November 20, 2020) insiders or control persons of the Company and who sell securities of the Company acquired before November 20, 2020 if both of the following criteria are met: (i) the sale is made through a “foreign organized regulated market”, as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
As previously disclosed, the Company does not anticipate filing the Form 10-Q or subsequent quarterly or annual filings.
The Company cautions that trading in the Company’s securities is highly speculative and poses substantial risks. Trading prices for the Company’s securities may bear little or no relationship to the actual value realized, if any, by holders of the Company’s securities. Accordingly, the Company urges extreme caution with respect to existing and future investments in its securities.
About General Moly, Inc. (TSE:GMO)
General Moly, Inc. is engaged in the business of the exploration, development and mining of properties containing molybdenum. The Company, through its subsidiary, Eureka Moly, LLC, holds interest in the Mt. Hope Project, a molybdenum property, located in Eureka County, Nevada. The Mt. Hope Project contains molybdenum reserves totaling approximately 1.4 billion pounds of which 1.2 billion pounds are estimated to be recoverable. It also owns a molybdenum and copper project, the Liberty Project, located in Nye County, Nevada. Its other mining properties include over 100 acres of fee simple land in the Little Pine Creek area of Shoshone County, Idaho; six patented mining claims known as the Chicago-London group, located near the town of Murray in Shoshone County, Idaho; 30 unpatented mining claims in Marion County, Oregon, known as the Detroit property, and 80 unpatented mining claims in Sanders and Madison County, Montana.
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