Soma Gold Corp. Updates Investors on Auditor Transition
Exciting Changes at Soma Gold Corp.
Soma Gold Corp. (TSXV: SOMA) is making notable strides in its operational framework with a significant change in its auditing team. The company has transitioned its auditor role from Doane Grant Thornton LLP to PricewaterhouseCoopers LLP (PwC). This decision was made to better align their audit processes with the company’s growth trajectory and evolving operations.
Supporting Growth and Strategic Alignment
The change in auditors aims to enhance the alignment of audit and advisory services with the Company’s financial strategies and business model. This approach is meant to underpin Soma Gold Corp.’s long-term goals and to streamline its reporting processes. The board approved the transition and is committed to ensuring that this shift supports their growth initiatives effectively.
Shareholder Engagement and Transparency
Soma is dedicated to transparency and has scheduled a vote for shareholders to approve PwC as the new auditor at the next Annual General Meeting. This gathering will provide an opportunity for shareholders to understand the benefits of this transition and to stay informed about the company’s future directions.
Track Record of the Former Auditor
The decision to switch auditors is backed by a solid track record with the previous firm. The reports from Doane Grant Thornton LLP for the last two fiscal years did not contain any modifications or reservations, which highlights a strong and professionally executed auditing process. Furthermore, there were no reportable events as defined by the relevant regulations connected to their audits.
Comments from Leadership
Greg Hayes, the Chief Financial Officer of Soma Gold Corp., expressed gratitude towards Doane Grant Thornton for their services, noting that their expertise was invaluable during a critical period of growth for the company. Hayes emphasized the excitement of collaborating with PwC Moving forward, as the company is poised to expand its operational footprint.
Operational Insights
With a focused commitment to gold production and exploration, Soma Gold Corp. continues to operate several mineral concessions and logistical setups that support its operational goals. The company manages over 43 square kilometers of mineral concessions, demonstrating its commitment to sustainable and responsible mining practices.
Commitment to Sustainability
Soma Gold Corp. emphasizes its dedication to sustainable mining practices and community engagement. By integrating sustainable strategies into its operations, the company aims to ensure long-term benefits for both the environment and local communities.
Future Plans and Growth Strategy
The El Limón mill has already set plans to restart operations, contributing to the company’s production capacity. Also, their exploratory projects remain fully permitted, positioning them well for future growth and success in the industry.
Conclusion and Future Directions
In accordance with applicable regulations, Soma Gold Corp. has filed a Notice of Change of Auditor along with the necessary documents required by industry standards. This proactive approach exemplifies their commitment to regulatory compliance and shareholder communication.
The Board of Directors expresses optimism regarding the future of the company as they embrace these strategic changes and opportunities.
Frequently Asked Questions
What prompted the change of auditor for Soma Gold Corp.?
The change was made to better align audit and advisory services with the company's growth strategy.
Who is the new auditor for Soma Gold Corp.?
The new auditor is PricewaterhouseCoopers LLP (PwC), effective from July 5, 2025.
Will shareholders need to approve the new auditor?
Yes, the appointment of PwC will be presented for approval at the next Annual General Meeting.
What was the performance of the former auditor?
The former auditor's reports did not contain any modifications or reservations, indicating a clean audit history.
How does Soma Gold Corp. ensure sustainability in its operations?
Soma is committed to sustainable mining practices and actively engages with local communities to create a positive impact.
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