Latest news with #CeaseTradeOrder
Yahoo
2 days ago
- Business
- Yahoo
AYR Provides Update on Anticipated Cease Trade Order
MIAMI, June 06, 2025 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) ('AYR' or the 'Company'), a leading vertically integrated U.S. multi-state cannabis operator, today provides an update regarding the status of its securities in connection with its previously announced delay in filing its interim financial statements for the quarter ended March 31, 2025. As disclosed on May 30, 2025, the Company was unable to meet the deadline to file its interim financial report, management's discussion and analysis, and related CEO and CFO certificates for the three-month period ended March 31, 2025 (collectively, the 'Interim Filings') as required under applicable Canadian securities laws. As a result, the Ontario Securities Commission (the 'OSC') has issued a Failure to File Cease Trade Order (the 'FFCTO') effective June 5, 2025. The FFCTO prohibits all trading, whether direct or indirect, in the securities of the Company in Canada, subject to certain limited exceptions for beneficial security holders who are not, and were not at the date of the FFCTO, insiders or control persons of the Company. Such holders may sell securities acquired before the date of the FFCTO if the sale is made through a 'foreign organized regulated market' and through a registered investment dealer in Canada, in accordance with applicable securities legislation. The FFCTO will remain in effect until the Company files the required disclosures and the OSC revokes the order. AYR is working diligently to complete its outstanding filings and will provide further updates as appropriate. The Company does not expect the FFCTO to impact its ability to continue to operate in the ordinary course and remains committed to delivering high-quality cannabis products to its patients and customers. Forward-Looking StatementsCertain statements contained in this news release may contain forward-looking information or may be forward-looking statements (collectively, 'forward-looking statements') within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as 'target', 'expect', 'anticipate', 'believe', 'foresee', 'could', 'would', 'estimate', 'goal', 'outlook', 'intend', 'plan', 'seek', 'will', 'may', 'tracking', 'pacing' and 'should' and similar expressions or words suggesting future outcomes. This news release includes forward-looking statements pertaining to, among other things, the status and potential revocation of the FFCTO and the Company's ability to continue to operate in the ordinary course. Numerous risks and uncertainties could cause actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. AYR has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. About AYR Wellness Wellness is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands. AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit Company/Media Contact:Robert VaniskoSVP, Public AffairsT: (786) 885-0397Email: comms@ Investor Relations Contact:Sean Mansouri, CFAElevate IRT: (786) 885-0397Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
4 days ago
- Business
- Yahoo
FuelPositive Announces Reinstatement of Trading
TORONTO, June 4, 2025 /CNW/ - FuelPositive Corporation (TSXV: NHHH) (OTCQB: NHHHF) ("FuelPositive" or the "Company") announces that its common shares will be reinstated for trading on the TSX Venture Exchange at the open of markets on or about June 6, 2025. The Company was delayed in filing its annual audited financial statements for the fiscal year ended September 30, 2024, which were due on January 30, 2025. As a result, the Ontario Securities Commission issued a Cease Trade Order ("CTO") on February 3, 2025. The annual audited financial statements and accompanying management's discussion and analysis and officer certifications were completed shortly thereafter, and the CTO was revoked on February 24, 2025. The Company then entered the TSX Venture Exchange's standard reinstatement review process. Annual General Meeting The Company also announces that it intends to convene an annual general meeting (the "Meeting") of shareholders to be held prior to the end of August 2025. The most recent annual general meeting was held on July 12, 2023. Plans for the upcoming Meeting are currently underway and will be announced shortly. The policies of the TSX Venture Exchange require the Company to hold an annual general meeting in each calendar year and no longer than fifteen months from the previous meeting. Due to unexpected disruptions and challenging circumstances, the Company was unable to meet this timing requirement in 2024. Private Placement The Company confirms that the non-brokered private placement previously announced on December 4, 2024, was interrupted and the offering's planned timeline was impacted by the duration of the reinstatement review process following the lifting of the CTO, and as a result has expired. The Company previously received advances towards the private placement totaling $621,000. The Company intends to settle these advances through the issuance of units of the Company on terms to be determined based on prevailing market conditions at the time. Completion of any settlement remains subject to the approval of the TSX Venture Exchange. With reinstated trading, the Company intends to launch a new private placement to raise the working capital needed to support strategic growth. The size and terms of the offering will be determined based on prevailing market conditions and company priorities at the time of launch. Corporate Communications Engagement The Company also confirms, further to its news release of February 25, 2021, that RB Milestone Group LLC ("RBMG") is engaged by the Company to provide corporate communications and investor relations advisory services on an ongoing basis. RBMG is a US-based corporate communications firm that specializes in investor relations advisory. RBMG is currently engaged on a month-to-month basis, for which it is entitled to receive a monthly cash fee of US$10,813. The Company is at arms-length to RBMG, and compensation of RBMG does not include any securities of the Company. To the knowledge of the Company, RBMG does not have any interest, directly or indirectly, in the securities of the Company. Media Strategy Engagement At the request of the TSX Venture Exchange, the Company also confirms that it previously engaged Quantum Ventures SEZC ("Quantum") to advise on media creation and online awareness strategies. Quantum provides media, awareness and strategic consulting services. Quantum was engaged for an initial twelve-month term, expiring April 2025, in consideration for a one-time fee of US$100,000. The engagement, which was undertaken in preparation for the activation of the Company's first ammonia production system, was affected by delays in the system's launch and has since concluded. The Company is at arms-length to Quantum, and compensation of Quantum did not include any securities of the Company. Partnership Development Services The Company engaged Planet Ventures Inc. ("Planet"), an arm's-length party, to support strategic partnership development and facilitate key stakeholder introductions in Manitoba. These services were intended to increase brand visibility in anticipation of the Company's green ammonia system becoming operational by the end of July 2024. While initial work began as planned, the Company had to pause the balance of services until the system is commercially ready, ensuring maximum impact upon resumption of services. As a result, the Company holds a service credit on reserve with Planet in the amount of $453,750, ready to be deployed in alignment with system launch. This amount was originally miscatagorized and has been reclassified as a prepaid expense in the interim financial statements for the six-month period ended March 31, 2025. Corporate Governance As part of its continued commitment to best practices in governance and transparency, and in preparation for the significant scaling of its operations, the Company is building upon its corporate framework with the formal adoption of a Related Party Transactions Policy and a Corporate Disclosure Policy. These policies build on the Company's existing internal practices and reflect its proactive approach to maintaining strong governance as the Company grows. About FuelPositive: Groundbreaking AgTech and Green Energy: FuelPositive's containerized Green Ammonia systems are redefining the ammonia industry by decentralizing production and placing control directly in the hands of farmers. This innovative model enables on-site generation of green nitrogen fertilizer and carbon-free fuel, reducing dependence on volatile supply chains and pricing. Each ton of ammonia produced by a FuelPositive system eliminates up to 2 tons of CO₂e emissions, offering both environmental and economic advantages. Designed for simplicity, reliability, and remote monitoring, the systems integrate seamlessly into farm operations, allowing farmers to produce what they need and when needed, without added complexity. First System Delivery: A Milestone in Sustainable Agriculture: In June 2024, FuelPositive delivered its first commercial demonstration system, the FP300, to Tracy and Curtis Hiebert's 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a major advancement for both the Company and the future of sustainable agriculture. The upcoming system activation will further highlight the transformative impact of FuelPositive's technology on farming practices, supporting a more resilient and sustainable food system. Manitoba: A Global Center of Excellence: FuelPositive is positioning Manitoba at the forefront of decentralized Green Ammonia production. With a bold vision to establish a world-leading manufacturing hub in the province, the Company is set to drive economic growth, create high-value jobs in engineering, science, and skilled trades, and make Manitoba a global centre of excellence for sustainable agriculture and clean technology. FuelPositive Corporation is based in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and on the OTCQB in the USA under the symbol NHHHF. For further information, please contact: Ian CliffordCo-Founder, Chief Executive Officer and Board ChairIan@ Investor Relations United States & International:RB Milestone Group (RBMG)fuelpositive@ Investor Relations Canada:Transcend Capital Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements. These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided to provide information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. SOURCE FuelPositive Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
4 days ago
- Business
- Cision Canada
FuelPositive Announces Reinstatement of Trading
TORONTO, June 4, 2025 /CNW/ - FuelPositive Corporation (TSXV: NHHH) (OTCQB: NHHHF) (" FuelPositive" or the " Company") announces that its common shares will be reinstated for trading on the TSX Venture Exchange at the open of markets on or about June 6, 2025. The Company was delayed in filing its annual audited financial statements for the fiscal year ended September 30, 2024, which were due on January 30, 2025. As a result, the Ontario Securities Commission issued a Cease Trade Order (" CTO") on February 3, 2025. The annual audited financial statements and accompanying management's discussion and analysis and officer certifications were completed shortly thereafter, and the CTO was revoked on February 24, 2025. The Company then entered the TSX Venture Exchange's standard reinstatement review process. Annual General Meeting The Company also announces that it intends to convene an annual general meeting (the " Meeting") of shareholders to be held prior to the end of August 2025. The most recent annual general meeting was held on July 12, 2023. Plans for the upcoming Meeting are currently underway and will be announced shortly. The policies of the TSX Venture Exchange require the Company to hold an annual general meeting in each calendar year and no longer than fifteen months from the previous meeting. Due to unexpected disruptions and challenging circumstances, the Company was unable to meet this timing requirement in 2024. The Company confirms that the non-brokered private placement previously announced on December 4, 2024, was interrupted and the offering's planned timeline was impacted by the duration of the reinstatement review process following the lifting of the CTO, and as a result has expired. The Company previously received advances towards the private placement totaling $621,000. The Company intends to settle these advances through the issuance of units of the Company on terms to be determined based on prevailing market conditions at the time. Completion of any settlement remains subject to the approval of the TSX Venture Exchange. With reinstated trading, the Company intends to launch a new private placement to raise the working capital needed to support strategic growth. The size and terms of the offering will be determined based on prevailing market conditions and company priorities at the time of launch. Corporate Communications Engagement The Company also confirms, further to its news release of February 25, 2021, that RB Milestone Group LLC (" RBMG") is engaged by the Company to provide corporate communications and investor relations advisory services on an ongoing basis. RBMG is a US-based corporate communications firm that specializes in investor relations advisory. RBMG is currently engaged on a month-to-month basis, for which it is entitled to receive a monthly cash fee of US$10,813. The Company is at arms-length to RBMG, and compensation of RBMG does not include any securities of the Company. To the knowledge of the Company, RBMG does not have any interest, directly or indirectly, in the securities of the Company. Media Strategy Engagement At the request of the TSX Venture Exchange, the Company also confirms that it previously engaged Quantum Ventures SEZC (" Quantum") to advise on media creation and online awareness strategies. Quantum provides media, awareness and strategic consulting services. Quantum was engaged for an initial twelve-month term, expiring April 2025, in consideration for a one-time fee of US$100,000. The engagement, which was undertaken in preparation for the activation of the Company's first ammonia production system, was affected by delays in the system's launch and has since concluded. The Company is at arms-length to Quantum, and compensation of Quantum did not include any securities of the Company. Partnership Development Services The Company engaged Planet Ventures Inc. (" Planet"), an arm's-length party, to support strategic partnership development and facilitate key stakeholder introductions in Manitoba. These services were intended to increase brand visibility in anticipation of the Company's green ammonia system becoming operational by the end of July 2024. While initial work began as planned, the Company had to pause the balance of services until the system is commercially ready, ensuring maximum impact upon resumption of services. As a result, the Company holds a service credit on reserve with Planet in the amount of $453,750, ready to be deployed in alignment with system launch. This amount was originally miscatagorized and has been reclassified as a prepaid expense in the interim financial statements for the six-month period ended March 31, 2025. Corporate Governance As part of its continued commitment to best practices in governance and transparency, and in preparation for the significant scaling of its operations, the Company is building upon its corporate framework with the formal adoption of a Related Party Transactions Policy and a Corporate Disclosure Policy. These policies build on the Company's existing internal practices and reflect its proactive approach to maintaining strong governance as the Company grows. About FuelPositive: Groundbreaking AgTech and Green Energy: FuelPositive's containerized Green Ammonia systems are redefining the ammonia industry by decentralizing production and placing control directly in the hands of farmers. This innovative model enables on-site generation of green nitrogen fertilizer and carbon-free fuel, reducing dependence on volatile supply chains and pricing. Each ton of ammonia produced by a FuelPositive system eliminates up to 2 tons of CO₂e emissions, offering both environmental and economic advantages. Designed for simplicity, reliability, and remote monitoring, the systems integrate seamlessly into farm operations, allowing farmers to produce what they need and when needed, without added complexity. First System Delivery: A Milestone in Sustainable Agriculture: In June 2024, FuelPositive delivered its first commercial demonstration system, the FP300, to Tracy and Curtis Hiebert's 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a major advancement for both the Company and the future of sustainable agriculture. The upcoming system activation will further highlight the transformative impact of FuelPositive's technology on farming practices, supporting a more resilient and sustainable food system. Manitoba: A Global Center of Excellence: FuelPositive is positioning Manitoba at the forefront of decentralized Green Ammonia production. With a bold vision to establish a world-leading manufacturing hub in the province, the Company is set to drive economic growth, create high-value jobs in engineering, science, and skilled trades, and make Manitoba a global centre of excellence for sustainable agriculture and clean technology. FuelPositive Corporation is based in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and on the OTCQB in the USA under the symbol NHHHF. For further information, please contact: Ian Clifford Co-Founder, Chief Executive Officer and Board Chair [email protected] Tel: 416.535.8395 Investor Relations United States & International: RB Milestone Group (RBMG) [email protected] Investor Relations Canada: Transcend Capital Inc. Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements. These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided to provide information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.
Yahoo
4 days ago
- Business
- Yahoo
FuelPositive Announces Reinstatement of Trading
TORONTO, June 4, 2025 /CNW/ - FuelPositive Corporation (TSXV: NHHH) (OTCQB: NHHHF) ("FuelPositive" or the "Company") announces that its common shares will be reinstated for trading on the TSX Venture Exchange at the open of markets on or about June 6, 2025. The Company was delayed in filing its annual audited financial statements for the fiscal year ended September 30, 2024, which were due on January 30, 2025. As a result, the Ontario Securities Commission issued a Cease Trade Order ("CTO") on February 3, 2025. The annual audited financial statements and accompanying management's discussion and analysis and officer certifications were completed shortly thereafter, and the CTO was revoked on February 24, 2025. The Company then entered the TSX Venture Exchange's standard reinstatement review process. Annual General Meeting The Company also announces that it intends to convene an annual general meeting (the "Meeting") of shareholders to be held prior to the end of August 2025. The most recent annual general meeting was held on July 12, 2023. Plans for the upcoming Meeting are currently underway and will be announced shortly. The policies of the TSX Venture Exchange require the Company to hold an annual general meeting in each calendar year and no longer than fifteen months from the previous meeting. Due to unexpected disruptions and challenging circumstances, the Company was unable to meet this timing requirement in 2024. Private Placement The Company confirms that the non-brokered private placement previously announced on December 4, 2024, was interrupted and the offering's planned timeline was impacted by the duration of the reinstatement review process following the lifting of the CTO, and as a result has expired. The Company previously received advances towards the private placement totaling $621,000. The Company intends to settle these advances through the issuance of units of the Company on terms to be determined based on prevailing market conditions at the time. Completion of any settlement remains subject to the approval of the TSX Venture Exchange. With reinstated trading, the Company intends to launch a new private placement to raise the working capital needed to support strategic growth. The size and terms of the offering will be determined based on prevailing market conditions and company priorities at the time of launch. Corporate Communications Engagement The Company also confirms, further to its news release of February 25, 2021, that RB Milestone Group LLC ("RBMG") is engaged by the Company to provide corporate communications and investor relations advisory services on an ongoing basis. RBMG is a US-based corporate communications firm that specializes in investor relations advisory. RBMG is currently engaged on a month-to-month basis, for which it is entitled to receive a monthly cash fee of US$10,813. The Company is at arms-length to RBMG, and compensation of RBMG does not include any securities of the Company. To the knowledge of the Company, RBMG does not have any interest, directly or indirectly, in the securities of the Company. Media Strategy Engagement At the request of the TSX Venture Exchange, the Company also confirms that it previously engaged Quantum Ventures SEZC ("Quantum") to advise on media creation and online awareness strategies. Quantum provides media, awareness and strategic consulting services. Quantum was engaged for an initial twelve-month term, expiring April 2025, in consideration for a one-time fee of US$100,000. The engagement, which was undertaken in preparation for the activation of the Company's first ammonia production system, was affected by delays in the system's launch and has since concluded. The Company is at arms-length to Quantum, and compensation of Quantum did not include any securities of the Company. Partnership Development Services The Company engaged Planet Ventures Inc. ("Planet"), an arm's-length party, to support strategic partnership development and facilitate key stakeholder introductions in Manitoba. These services were intended to increase brand visibility in anticipation of the Company's green ammonia system becoming operational by the end of July 2024. While initial work began as planned, the Company had to pause the balance of services until the system is commercially ready, ensuring maximum impact upon resumption of services. As a result, the Company holds a service credit on reserve with Planet in the amount of $453,750, ready to be deployed in alignment with system launch. This amount was originally miscatagorized and has been reclassified as a prepaid expense in the interim financial statements for the six-month period ended March 31, 2025. Corporate Governance As part of its continued commitment to best practices in governance and transparency, and in preparation for the significant scaling of its operations, the Company is building upon its corporate framework with the formal adoption of a Related Party Transactions Policy and a Corporate Disclosure Policy. These policies build on the Company's existing internal practices and reflect its proactive approach to maintaining strong governance as the Company grows. About FuelPositive: Groundbreaking AgTech and Green Energy: FuelPositive's containerized Green Ammonia systems are redefining the ammonia industry by decentralizing production and placing control directly in the hands of farmers. This innovative model enables on-site generation of green nitrogen fertilizer and carbon-free fuel, reducing dependence on volatile supply chains and pricing. Each ton of ammonia produced by a FuelPositive system eliminates up to 2 tons of CO₂e emissions, offering both environmental and economic advantages. Designed for simplicity, reliability, and remote monitoring, the systems integrate seamlessly into farm operations, allowing farmers to produce what they need and when needed, without added complexity. First System Delivery: A Milestone in Sustainable Agriculture: In June 2024, FuelPositive delivered its first commercial demonstration system, the FP300, to Tracy and Curtis Hiebert's 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a major advancement for both the Company and the future of sustainable agriculture. The upcoming system activation will further highlight the transformative impact of FuelPositive's technology on farming practices, supporting a more resilient and sustainable food system. Manitoba: A Global Center of Excellence: FuelPositive is positioning Manitoba at the forefront of decentralized Green Ammonia production. With a bold vision to establish a world-leading manufacturing hub in the province, the Company is set to drive economic growth, create high-value jobs in engineering, science, and skilled trades, and make Manitoba a global centre of excellence for sustainable agriculture and clean technology. FuelPositive Corporation is based in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and on the OTCQB in the USA under the symbol NHHHF. For further information, please contact: Ian CliffordCo-Founder, Chief Executive Officer and Board ChairIan@ Investor Relations United States & International:RB Milestone Group (RBMG)fuelpositive@ Investor Relations Canada:Transcend Capital Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements. These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided to provide information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law. SOURCE FuelPositive Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
29-04-2025
- Business
- Associated Press
MINERALRITE CORPORATION (RITE) Completes Corporate Action Case Filed with FINRA
Dallas, Texas--(Newsfile Corp. - April 29, 2025) - MINERALRITE TM Corporation (OTC Pink: RITE) (the 'Company' or 'RITE'), recently received notice from the Financial Industry Regulatory Authority ('FINRA') acknowledging its F Reorganization merger redomicile of the Company into the State of Texas. On March 22, 2024, RITE filed a case action with FINRA to properly recognize the F Reorganization that the Company underwent on April 7, 2021. Under the terms of this action, the Company merged the former Nevada entity into a Texas entity and exchanged shares on a one-for-one basis. Now that FINRA has recognized this action, RITE shares will be assigned a new CUSIP number and FINRA will update its records to recognize the same number of authorized shares that have been reflected by the Company and the State of Texas for the last several years. This was and is a critical step for the Company to be able to raise capital in the public market. According to FINRA, news of this action should be released in their daily list announcements on April 29, 2025; and the market effective date should be April 30, 2025. When CEO Burgauer took over the Company, he announced that it was his intention to get RITE back to an auditable state, become fully reporting and re-engage with the brokerage community. As part of his foundational cleanup, CEO Burgauer acknowledged that cleaning up this issue with FINRA, filing a Form 10 with the Securities and Exchange Commission ('SEC'), and obtaining a revocation of the decades-old Cease Trade Order ('CTO') with the Alberta Securities Commission were three critical steps the Company needs to achieve in order for the Company to re-engage with the investment community and improve RITE's access to capital markets. CEO Burgauer said, 'The revocation of the CTO occurred on March 20, 2025; RITE filed its responses to the SEC's comment letter last Friday, April 25, 2025. And today we got this incredible news from FINRA. RITE has had a fantastic last ten-days.' CEO Burgauer reiterated, 'Now all that remains is the lifting of the Eligible for Unsolicited Quotes Only flag on the stock - which is already in process. In fact, responses to FINRA's 15c2-11 application comments were filed last week as well. Completing this last item will allow RITE to fully concentrate on ringing the Company's cash register!' RITE is actively working on updating the Mine Operating Plan which is needed to finalize the updated lease with the Arizona State Land Department. That plan and the finalized lease will allow the Company to get the mining experts onto the property so they can update the historical reserve valuations (which were previously issued by NMC years ago) to ensure they meet the current requirements of the SEC and the Committee for Reserves International Reporting Standards ('CRIRSCO'). CEO Burgauer noted that the leases for the BLM properties in California have already been updated. This news from FINRA will make it far easier for RITE to raise the capital necessary to get one or more of the recently acquired mining properties into production. Burgauer reiterated, 'Next up, the Company intends to raise some capital and get our JV operators to work on these properties,' said Burgauer. 'It's exhilarating to be in the RITE place at the RITE time, especially considering that we are now operating in an industry under a government that understands that mining provides the resources to support so many critical aspects of our country's national security interests.' Safe Harbor Disclosure Forward-Looking Statements: Certain information set forth in this presentation contains 'forward-looking information', including 'future-oriented financial information' and 'financial outlook', under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Investor Relations [email protected] To view the source version of this press release, please visit
