Latest news with #FFCTO
Business Upturn
a day ago
- Business
- Business Upturn
FOBI AI Inc. Announces Closing of the Sale of German Subsidiary
Vancouver, BC, June 12, 2025 (GLOBE NEWSWIRE) — FOBI AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) ('Fobi' or the 'Company') announces that further to its news release dated May 28, 2025, it has closed the sale (the 'Transaction') of all of its shares in Fobi AI Germany GmbH (the 'Acquired Company'), its wholly owned German subsidiary, to an arm's length third party purchaser (the 'Purchaser') pursuant to the terms of share purchase agreement dated May 28, 2025 (the 'Agreement'). Pursuant to the Agreement, the Purchaser paid to FOBI an aggregate of EUR 1,540,000.00 consisting of a cash purchase price in the amount of EUR 1,400,000.00 (the 'Purchase Price') and an additional purchase price in the amount of EUR 140,000.00, which was paid by the Purchaser to the Acquired Company on behalf of FOBI after assumption by the Purchaser of FOBI's obligations to pay such amount per the License (as defined below). Pursuant to the Agreement, the Acquired Company granted FOBI a license (the 'License') to use the 'Passcreator Software' for the payment of an aggregate price of EUR 140,000. Such payment obligation was assumed by the Purchaser pursuant to the Agreement. The License is non-exclusive, worldwide, irrevocable and sublicensable. The term of the License is 48 months after closing of the Transaction, without the right to terminate during these 48 months. No finders fee was paid pursuant to the Agreement. The Company is currently subject to an ongoing failure-to-file cease trade order ordered by the British Columbia Securities Commission on November 1, 2024 (the 'FFCTO'). The FFCTO is applicable to the securities of the Company. The Transaction involves a sale of the securities of the Acquired Company, being a private German limited liability company not publicly listed on any stock exchange. About Fobi Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale. Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry. For more information, please contact: Fobi AI Inc. Fobi Website: Rob Anson, CEO Facebook: @ Fobiinc T : +1 877-754-5336 Ext. 3 Twitter: @ Fobi_inc E: [email protected] LinkedIn: @ Fobiinc Forward Looking Statements/Information: This news release contains certain statements which constitute forward-looking statements or information, including statements regarding the terms of the Transaction, the timing of the closing of the Transaction, and other statements characterized by words such as 'anticipates,' 'may,' 'can,' 'plans,' 'believes,' 'estimates,' 'expects,' 'projects,' 'targets,' 'intends,' 'likely,' 'will,' 'should,' 'to be', 'potential' and other similar words, or statements that certain events or conditions 'may', 'should' or 'will' occur . Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including, without limitation, market competition, the impact of general economic and industry conditions, competition, stock market volatility, BCSC and Exchange approval conditions, and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes to volatile exchange rates, market conditions, market competition and other economic and market factors. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, and results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives. Neither the 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. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Cision Canada
06-06-2025
- Business
- Cision Canada
Montfort Capital Announces Delay in Filing of Q1 2025 Financial Statements and MD&A, Issuance of Cease-Trade Order
TORONTO, June 6, 2025 /CNW/ - Montfort Capital Corp. (TSXV: MONT) (" Montfort" or the " Company") announces a delay in the filing of its financial statements, its management's discussion and analysis, and chief executive officer and chief financial officer certificates for the three-months ended March 31, 2025 (the " Required Filings"), which were due to be filed by May 30, 2025 under applicable Canadian securities law requirements. The Company advises that the delay to the Required Filings is a result of the delays in completing its audited annual consolidated financial statements, management's discussion and analysis and chief executive officer and chief financial officer certificates for the year-ended December 31, 2024 (the " Annual Filings") by the statutory deadline of April 30, 2025. Upon filing of the Annual Filings to the Company's SEDAR+ profile on May 27, 2025, the Ontario Securities Commission issued a revocation order on May 28, 2025 for the failure-to-file cease trade order it issued on May 7, 2025. The Company expects to file the Required Filings by the end of June 2025 and will issue a news release announcing completion of such filings at such time. Issuance of Cease-Trade Order As a result of the Company's failure to file the Required Filings by May 30, 2025, the Ontario Securities Commission (the " OSC") issued a failure-to-file cease trade order (the " FFCTO") to the Company on June 5, 2025. The FFCTO prohibits the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer, for as long as the FFCTO remains in effect, subject to the following exception. The FFCTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of June 5, 2025) insiders or control persons of the Company and who sell securities of the Company acquired before June 5, 2025 if both of the following criteria are met: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. The OSC has informed the Company that if the default is remedied within 90 days of the date of the FFCTO, including any interim financial statements, MD&A and certifications that subsequently became due, the filing of the Required Filings will constitute the application to revoke the FFCTO. On Behalf of the Board of Directors: Ken Thomson, Director & Chief Executive Officer Montfort Capital Corp. About Montfort Capital Montfort is a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers. We employ focused strategies, experienced management teams and advanced technology to drive superior risk-adjusted investment returns. For further information, please visit Neither the 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 news release. FORWARD-LOOKING INFORMATION This news release contains "forward-looking information" and "forward-looking statements" (collectively, " forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release may include statements about the expected completion of the Required Filings and filing of the Required Filings. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and there is no guarantee that the Required Filings will be made on the timeline currently expected or at all. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. SOURCE Montfort Capital Corp.
Yahoo
06-06-2025
- Business
- Yahoo
Montfort Capital Announces Delay in Filing of Q1 2025 Financial Statements and MD&A, Issuance of Cease-Trade Order
TORONTO, June 6, 2025 /CNW/ - Montfort Capital Corp. (TSXV: MONT) ("Montfort" or the "Company") announces a delay in the filing of its financial statements, its management's discussion and analysis, and chief executive officer and chief financial officer certificates for the three-months ended March 31, 2025 (the "Required Filings"), which were due to be filed by May 30, 2025 under applicable Canadian securities law requirements. The Company advises that the delay to the Required Filings is a result of the delays in completing its audited annual consolidated financial statements, management's discussion and analysis and chief executive officer and chief financial officer certificates for the year-ended December 31, 2024 (the "Annual Filings") by the statutory deadline of April 30, 2025. Upon filing of the Annual Filings to the Company's SEDAR+ profile on May 27, 2025, the Ontario Securities Commission issued a revocation order on May 28, 2025 for the failure-to-file cease trade order it issued on May 7, 2025. The Company expects to file the Required Filings by the end of June 2025 and will issue a news release announcing completion of such filings at such time. Issuance of Cease-Trade Order As a result of the Company's failure to file the Required Filings by May 30, 2025, the Ontario Securities Commission (the "OSC") issued a failure-to-file cease trade order (the "FFCTO") to the Company on June 5, 2025. The FFCTO prohibits the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer, for as long as the FFCTO remains in effect, subject to the following exception. The FFCTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of June 5, 2025) insiders or control persons of the Company and who sell securities of the Company acquired before June 5, 2025 if both of the following criteria are met: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. The OSC has informed the Company that if the default is remedied within 90 days of the date of the FFCTO, including any interim financial statements, MD&A and certifications that subsequently became due, the filing of the Required Filings will constitute the application to revoke the FFCTO. On Behalf of the Board of Directors: Ken Thomson, Director & Chief Executive OfficerMontfort Capital Corp. About Montfort Capital Montfort is a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers. We employ focused strategies, experienced management teams and advanced technology to drive superior risk-adjusted investment returns. For further information, please visit Neither the 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 news release. FORWARD-LOOKING INFORMATIONThis news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release may include statements about the expected completion of the Required Filings and filing of the Required Filings. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and there is no guarantee that the Required Filings will be made on the timeline currently expected or at all. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. SOURCE Montfort Capital 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
Yahoo
06-06-2025
- 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
21-05-2025
- Business
- Yahoo
Destiny Media Technologies Provides Corporate Update on Various Matters
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced a corporate update. Stock Option PlanIn 2022, the Company amended the 2015 stock option plan (the "2022 Plan") which was ratified by the Company's shareholders at the 2022 Annual General Meeting. Details of the plan were disclosed on page 10 of the Company's filings with the SEC here and in Canada here. The 2022 Plan provided for the issuance of up to one million stock options, all granted at prices above market value. Litigation UpdateThere is no material new information regarding the legal claim filed in 2017 by the Company's former CEO. The claim, which alleges conspiracy, breach of contract, wrongful dismissal, defamation, and seeks aggravated and punitive damages, was previously disclosed here. The matter was heard in the Supreme Court of British Columbia in December 2024, and the Company is currently awaiting a decision. The Company continues to remain confident in a favorable outcome. Cease Trade Order (CTO)On Monday, May 5, 2025, the Company received a failure-to-file cease trade order ("FFCTO") from the British Columbia Securities Commission (BCSC), as the Company's second quarter financial results had been filed with the SEC but not yet published on SEDAR+. The issue was promptly corrected, and the BCSC lifted the FFCTO on May 7, 2025. Trading of the Company's shares will be reinstated soon. Neither 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 release. About Destiny Media Technologies Media Technologies Inc. ("Destiny") provides software as service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE® ( is the world's leading provider of music promotional delivery services, dedicated to empowering artists and industry professionals with innovative solutions for success in the digital age. More information can be found at Contacts: Fred VandenbergCEO, Destiny Media Technologies, Inc.604 609 7736 x236 To view the source version of this press release, please visit
