This marks the third consecutive year Viridian has received the maximum JEA award, following funding received for its 2023 and 2024 exploration programs. The Company intends to submit a further application under the program to support planned 2025 work at its Kraken Project.
The JEA program provides non-dilutive funding to advance mineral exploration across Newfoundland and Labrador, with a focus on new discovery and progression of projects toward defined mineral resources.
Viridian continues to advance a district-scale exploration strategy across its Labrador portfolio, targeting large mineral systems in underexplored regions. Programs such as JEA allow the Company to expand early-stage coverage and advance multiple projects in parallel while maintaining capital discipline.
"JEA funding has been a consistent contributor to advancing our work across Labrador," said Tyrell Sutherland, President & CEO of Viridian Metals. "At Sedna, it supported basin-scale work, and we see a similar opportunity to apply it at Kraken as we continue to build out the broader system."
Viridian remains focused on advancing its projects through systematic exploration and strategic use of non-dilutive funding, with the objective of defining large-scale mineral systems.
Adoption of Semi-annual Financial Reporting
Viridian additionally reports that it has elected to rely on Coordinated Blanket Order 51-933 and move to semi-annual financial reporting ("SAR").
Coordinated Blanket Order 51-933 allows eligible venture issuers to voluntarily move from a quarterly to a semi-annual financial reporting framework. Under the SAR pilot program, the Company will, upon its election to participate, be exempt from filing interim financial reports and related Management's Discussion & Analysis ("MD&A)" for its first and third quarters.
Interim Period: The Company will going forward not file an interim report and a related MD&A for the first quarter (Q1) ending March 31 and the third quarter (Q3) ending September 30; and
Ongoing Reporting: The Company will continue to file audited financial statements (due within 120 days of December 31) and six-month interim financial reports (due within 60 days of June 30).
The first period for which ...
