By Adriano Marchese

Russia-focused precious metals miner Silver Bear Resources PLC was ordered to cease trading by Ontario's securities regulator for not filing its financial statements for 2021 in time.

On Friday, the company said it has been unable to pay its auditors, BDO LLP, due to Russian government restrictions on international payments. As a result, BDO had suspended the completion of the company's 2021 audit.

The Ontario Securities Commission subsequently issued an order to cease trade after the company missed a March 31 deadline to submit its financial statements for the year ended Dec. 31.

Silver Bear said that it continues to work with its auditor to resolve nonpayment of the outstanding invoice to complete the filings and have the CTO revoked.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 01, 2022 09:22 ET (13:22 GMT)

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