Latest news with #Documents
Yahoo
2 days ago
- Business
- Yahoo
Magnetic North Acquisition Corp. Provides Bi-Weekly Update On Status Of Management Cease Trade Order
CALGARY, Alberta and TORONTO, June 06, 2025 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC; ('Magnetic North' or the 'Company') is providing this bi-weekly update on the status of the management cease trade order granted on May 9, 2025 (the 'MCTO') by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 - Management Cease Trade Orders ('NP 12-203'), following the Company's announcement on May 8, 2025 (the 'Default Announcement') that it was unable to file its audited annual financial statements, management's discussion and analysis and related certifications for the year ended December 31, 2024 (the 'Documents') on or before April 30, 2025, as required under applicable securities laws. The Company still expects to file the Documents by June 30, 2025. There are no material changes to the information contained in the Default Announcement. In addition: (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Documents; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed. About Magnetic North Acquisition Corp. Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success. With offices in Calgary and Toronto, our experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North common shares and preferred shares trade on the TSX Venture Exchange under the stock symbol MNC and respectively. The TSX Venture recently announced that Magnetic North is a '2021 TSX Venture 50' recipient. For more information about Magnetic North, visit its website at Magnetic North's securities filings can also be accessed at For further information, please contact: Graeme Dick Stephen McCormick Investor Relations VP, Capital Markets 403-451-0939 403-451-0939 graeme@ stephen@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION Certain statements in this news release are 'forward-looking statements', which reflect current expectations of the management of Magnetic North regarding future events or Magnetic North's future performance. All statements other than statements of historical fact contained in this news release may be forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements. Magnetic North believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Magnetic North assumes no obligation to update or revise them to reflect new events or circumstances, except as expressly required by applicable securities law. Further information regarding risks and uncertainties relating to Magnetic North and its securities can be found in the disclosure documents filed by Magnetic North with the securities regulatory authorities, available at
Hans India
27-05-2025
- Politics
- Hans India
Rajasthan's historical documents must be preserved through digitisation: Dy CM
Jaipur: Rajasthan Deputy Chief Minister Diya Kumari instructed on Tuesday that the rich historical documents of Rajasthan must be preserved through digitisation for future generations. 'The rich historical documents of Rajasthan available in Bikaner should be preserved through digitisation. It is a must for future generations,' the Deputy Chief Minister instructed the officials while chairing a meeting at the secretariat to discuss preservation of historical archives in Bikaner and construction of the 'Documents Museum' building. She further directed to start the process of construction of the 'Documents Museum' building soon, adding that the archives are very important in terms of historical, cultural and research. 'The preservation of these historical documents is our top priority,' she said. The Deputy Chief Minister pointed out that digitisation will not only ensure the security of these documents but also make them accessible to researchers and the general public. An official said that various aspects of the project, budget implementation, technical cooperation and timeline were discussed in detail in the meeting. Officials will soon prepare an action plan and start implementation. Earlier, an important joint committee was held to develop the structures of Swarna Jayanti Park, Mazar Dam and Kishan Bagh in Vidyadhar Nagar Assembly constituency as a model with the assistance of the Indian Army. The Detailed Project Report (DPR) of the project was discussed in depth in the meeting. The meeting was chaired by Deputy Chief Minister of Rajasthan, General Officer Commanding-in-Chief South Western Command Lieutenant General Manjinder Singh, Additional Chief Secretary Finance Akhil Arora, among others. The meeting discussed possibilities of promoting overall development, beautification, environmental protection and tourism of the region as well as making the region a symbol of national pride through military cooperation. The main objective of the project is to develop these areas with clean, green and educational recreation, so that local citizens, youth, children and tourists can find a rich and inspiring environment. This initiative will not only accelerate regional development but also provide an ideal model of coordinated efforts of the army and civil administration, which will be an inspiration for other regions of the state, said officials.
Yahoo
23-05-2025
- Business
- Yahoo
Magnetic North Acquisition Corp. Provides Bi-Weekly Update on Status of Management Cease Trade Order
CALGARY, Alberta and TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC; ('Magnetic North' or the 'Company') is providing this bi-weekly update on the status of the management cease trade order granted on May 9, 2025 (the 'MCTO') by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 - Management Cease Trade Orders ('NP 12-203'), following the Company's announcement on May 8, 2025 (the 'Default Announcement') that it was unable to file its audited annual financial statements, management's discussion and analysis and related certifications for the year ended December 31, 2024 (the 'Documents') on or before April 30, 2025, as required under applicable securities laws. The Company still expects to file the Documents by June 30, 2025. There are no material changes to the information contained in the Default Announcement. In addition: (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Documents; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed. About Magnetic North Acquisition Corp. Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success. With offices in Calgary and Toronto, our experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North common shares and preferred shares trade on the TSX Venture Exchange under the stock symbol MNC and respectively. The TSX Venture recently announced that Magnetic North is a '2021 TSX Venture 50' recipient. For more information about Magnetic North, visit its website at Magnetic North's securities filings can also be accessed at For further information, please contact: Graeme Dick Stephen McCormick Investor Relations VP, Capital Markets 403-451-0939 403-451-0939 graeme@ stephen@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION Certain statements in this news release are 'forward-looking statements', which reflect current expectations of the management of Magnetic North regarding future events or Magnetic North's future performance. All statements other than statements of historical fact contained in this news release may be forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements. Magnetic North believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Magnetic North assumes no obligation to update or revise them to reflect new events or circumstances, except as expressly required by applicable securities law. Further information regarding risks and uncertainties relating to Magnetic North and its securities can be found in the disclosure documents filed by Magnetic North with the securities regulatory authorities, available at 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
Yahoo
23-05-2025
- Business
- Yahoo
Regal Resources Inc. Announces Revocation of Cease Trade Orders
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2025) - Regal Resources Inc. (the "Company" or "Regal") is pleased to announce that it has been successful in its applications to the British Columbia Securities Commission ("BCSC") and the Ontario Securities Commission (the "Securities Regulators") to revoke the cease trade orders issued on December 11 and 30, 2015 respectively by the Securities Regulators (the "Cease Trade Orders"). The Company previously announced its intention to make application to revoke the Cease Trade Orders on December 23, 2024. The Cease Trade Orders were issued as a result of the Company's failure to file its audited annual financial statements and related management's discussion and analysis and other materials for the year ended July 31, 2015. The Company has filed its audited annual financial statements, management's discussion and analysis and related certifications for the years ended July 31, 2024 and July 31, 2023 and its interim financial statements, management's discussion and analysis and related certifications for the quarter ended January 31, 2025, and has otherwise met its continuous disclosure obligations pursuant to securities laws (collectively, the "Disclosure Documents"). Accordingly, the revocation of the Cease Trade Orders has been granted by the Securities Regulators. The Disclosure Documents are available for review online under the Company's profile on SEDAR+ ( Corporate Activity The Company significantly reduced its business activities following the Cease Trade Orders. On January 25, 2016, the Company's shares were suspended from trading on the Canadian Securities Exchange ("CSE") as a result of the Company being in default of the CSE's requirements, and on April 25, 2016, the Company was delisted from the CSE. In August 2017, the Company entered into definitive agreements (the "Sunnyside Agreement") with Barksdale Resources Inc. (TSX-V: BRO) ("Barksdale") for Barksdale to acquire up to a 67.5% undivided interest in the Sunnyside Project in two stages, with Barksdale entitled to acquire an initial 51% interest in the Sunnyside Project upon making certain cash payments, issuing a number of Barksdale shares and incurring certain qualified expenditures during the first two years of the option, following receipt of all required governmental permits. Following acquisition of the initial 51% interest in the Sunnyside Project, Barksdale will have the option to increase its interest to 67.5% of the Sunnyside Project upon payment of additional cash and share consideration and the incurring of additional qualified property expenditures. Following signing of the Sunnyside Agreement, in 2018 Barksdale made cash payments to the Company in the aggregate amount of $750,000 and issued to the Company 1,250,000 common shares of Barksdale. In August 2020, the Company held its annual general meeting, at which a change of management and board occurred. Greg Thomas, the chief executive officer and president and a director of the Company did not stand for re-election at the meeting. Matthew Sauder, Martin Carsky, Derek Daly, Tony Louie, and Drew Brass were elected as directors, and following the meeting Matthew Sauder was appointed as chair of the board, president and chief executive officer and Derek Daly was appointed as chief financial officer. In May 2021, the Company entered into a share purchase agreement with Barksdale providing for Barksdale to indirectly acquire 100% of the Sunnyside Project. The transaction required approval from 2/3 of the Regal shareholders to move forward. At a special general meeting called to consider the sale in July 2021, the required 2/3 shareholder approval was not obtained and the transaction was subsequently terminated. On October 1, 2021, Matthew Sauder, Martin Carsky, and Derek Daly resigned from the Company's board and as officers of the Company. On October 4, 2021, Barksdale, as assignee of various debt owed by the Company, delivered a notice of intention to enforce security pursuant to the Bankruptcy and Insolvency Act (Canada) and on October 14, 2021, the Company entered creditor protection under the Bankruptcy and Insolvency Act (Canada). In January 2022, Greg Thomas, the former chief executive officer and president of the Company from 2010 to 2020, was reappointed as chief executive officer, president and a director of the Company. In January 2022, the Company applied to the BCSC and obtained a partial revocation of the CTO in British Columbia to permit it to complete a private placement financing (the "Debenture Financing") under which it raised $2,885,000 through the issuance of secured convertible debentures (the "Debentures") to four investors in British Columbia and Yukon. The Debentures bear interest at 12% per annum and are convertible into units at a conversion price of $0.10 per unit. Each unit will be comprised of one common share and one-half share purchase warrant, with each whole warrant exercisable to acquire one common share for $0.20 for a period of two years from the date of issuance. Using the proceeds from the Debentures and other funds, the Company repaid a total of $3,048,504 to various secured and unsecured creditors and was able to exit creditor protection. In Q1 of 2023, pursuant to a second partial revocation of the CTO in British Columbia granted by the BCSC the Company raised a total of $350,000 from the sale of $0.10 units of its securities to investors in British Columbia and Colorado USA. Each unit was comprised of one common share and one half share purchase warrant, with each whole warrant exercisable to acquire one common share for $0.20 for a period of two years from the date of issuance. All the warrants expired unexercised in Q1 2025. In September 2023 Barksdale received its last regulatory approval to commence exploration at the Sunnyside Property and in September 2024, pursuant to the Sunnyside Agreement, Barksdale fulfilled year 1 of its earn-in to the Sunnyside Project by completing C$3,000,000 in qualified exploration expenses, making a net payment of C$717,071, and issuing 3,850,000 Barksdale shares to the Company. In February 2025 the Company's trustee in bankruptcy filed its final report to the bankruptcy court and the final order discharging the trustee was received on April 30, 2025. Following the revocations of the CTOs, the Company will prepare for the expected vesting of Barksdale's 51% interest in the Sunnyside Project in September 2025. Assuming it completes its 51% earn in, Barksdale will have 120 days to elect to increase its interest to 67.5% in consideration for making an additional cash payment of $550,000, issuing an additional 4,900,000 Barksdale shares, and incurring an additional $6,000,000 in qualified expenditures, including 25,000 feet of drilling within the following two years. Once the joint venture commences with Barksdale at either 51% or 67.5%, Regal will hold two seats of a four person management committee that will oversee work programs to advance the Sunnyside Project. Regal will evaluate several financing options in order to participate fully in upcoming exploration programs to maintain its 49% or 32.5% interest, as the case may be. About Regal Resources Inc. Regal Resources is a junior mineral exploration and development company based in Vancouver, British Columbia whose sole mineral project is its interest in the Sunnyside Project near Nogales, Arizona. Regal Resources is a reporting issuer in the provinces of British Columbia, Alberta, and Ontario. ON BEHALF OF THE BOARD Greg ThomasChief Executive Officer For further information contact: Regal Resources (604) 512-6041Email: info@ To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
20-05-2025
- Automotive
- Yahoo
Court docs detail allegations against Kelly Grimsley Auto, judge grants TRO
ODESSA, Texas (KMID/KPEJ)- A federal judge has granted a temporary restraining order against Kelly Grimsley Auto Group as part of a lawsuit brought by Hyundai Capital America against the beleaguered auto dealer, which has been under fire from customers who have reported numerous, and possibly illegal, issues with the car buying process; now, the auto group is facing the heat in federal court. Court documents showed that last week, United States District Judge David Counts signed an order with prevents the auto dealer from selling or trading vehicle inventory, and forbids the company from tampering with records, withdrawing more than $5,000 from company accounts, selling off real estate assets, taking new loans, or funneling money to the Grimsley family. PREVIOUS COVERAGE: Kelly Grimsley Auto under fire, here's what you need to know if you made a purchase The group can conduct routine business, but only with written permission from Hyundai and any violation of the order could result in further charges. Hyundai finances Kelly Grimsley's vehicle inventory through a series of advances described in their Inventory Loan and Security Agreement, which is in turn secured by both K. Grimsley, L.L.C. and Kelly J. Grimsley through separate contemporaneous guaranty agreements. Through these Loan Documents, Hyundai is guaranteed full and prompt payment when due, by acceleration or otherwise. The ILSA itself grants Hyundai a security interest in Kelly Grimsley Auto Group's collateral, which includes, 'all inventory, including new and used motor vehicles.' Through its lawsuit, Hyundai presented evidence that Kelly Grimsley Auto Group has defaulted under the ILSA. Attorneys for the finance company said Hyundai initially grew concerned after receiving a notice of nonsufficient funds for Kelly Grimsley Auto Group payments. It quickly notified the Kelly Grimsley Auto Group entities of default only to receive another notice of nonsufficient funds. Hyundai then performed lot audits of Kelly Grimsley Auto Group vehicle inventory and reviewed sales reports. Hyundai's evidence shows that four hundred and five vehicles subject to these Loan Documents bear unpaid, due, and outstanding balances, totaling $13,663,534.42. This prompted Hyundai to act, and the company sent a notice of acceleration for $14,998,033.07, exercising its right of acceleration under the ILSA. Most recently, Hyundai provided a voluntary surrender agreement to Kelly Grimsley Auto Group seeking control of the remaining vehicles. So far, Kelly Grimsley Auto Group has failed to turn the remaining vehicles over. Hyundai has also presented evidence of other concerning instances of default. Specifically, according to court documents, the evidence shows that Kelly Grimsley Auto Group has failed to make payments on one or more merchant cash advance agreements for amounts greater than $50,000. Additionally, issues with retail financing for Kelly Grimsley Auto Group's customers have caused difficulties for customers in obtaining license plates and titles— some customers have left Google reviews showing that this issue stretches back at least ten months. 'The evidence also shows that Kelly Grimsley Auto Group has defaulted on the dealership's mortgage. In addition to amounting to events of default under the ILSA, Hyundai has determined that these acts also constitute a material adverse change, as defined in the ILSA. Hyundai has accordingly shown a substantial threat that Kelly Grimsley Auto Group will continue to sell inventory without paying back its advances under the ILSA,' the lawsuit said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
