Aja Health and Wellness Inc. Provides Update on Delay in Filing Financial Statements and Implementation of Cease Trade Order
VANCOUVER, British Columbia, Aug. 08, 2025 (GLOBE NEWSWIRE) -- Aja Health and Wellness Inc. ("Aja" or the "Company") (TSXV:Aja) announces that the Alberta Securities Commission (the " ASC"), as its principal regulator, has revoked the management cease trade order previously issued to the Company. On August 1, 2025, the ASC issued a Failure-to-File Cease Trade Order (the " FFCTO") prohibiting the trading by any person of any securities of the Company.
The FFCTO was issued due to the delayed filing of the Company's annual audited financial statements for the financial year ending December 31, 2024, including the related management's discussion and analysis and certifications from the CEO and CFO (the " Annual Filings") and the Company's unaudited interim financial statements for the three months ended March 31, 2025, the management's discussion and analysis for the same period and management certifications of the interim filings (the " Interim Filings") beyond the April 30, 2025 and May 30, 2025 deadline for the Annual Filings and Interim Filings, respectively.
The Company anticipates that the FFCTO will remain in place until such time as the Annual Filings and the Interim Filings are filed.
Update on Annual Filings
Aja previously announced that the delay in filing the Annual Filings was due to the determination that the previously announced reverse takeover transaction, which closed on September 17, 2024, will be characterized as a series of acquisitions for accounting purposes. This characterization requires a valuation of the purchase price allocation to complete the audited financial statements for the financial year ending December 31, 2024. The valuator continues to work on valuing the purchase price allocation and anticipates having the valuation finalized on or before August 15, 2025. Following receipt of the valuation, the auditors will continue working with the Company to complete the audited financial statements for the financial year ending December 31, 2024. The Company is working to complete the Annual Filings as soon as possible and expects the Annual Filings to be filed on or before August 29, 2025.
Update on Interim Filings
As a result of the delay in filing the Annual Filings, Aja previously announced that it was unable to file its Interim Filings. Aja is working to complete the Interim Filings as soon as possible and expects the Interim Filings to be filed on or before August 29, 2025.
On behalf of the Board of Directors
"Sanjeev Parsad"
Sanjeev Parsad
President, CEO and Director
The above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Company undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
This story was originally published August 8, 2025 at 6:28 PM.
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