Latest news with #ManagementCeaseTradeOrder
Toronto Star
4 days ago
- Business
- Toronto Star
Elcora Provides Update on Status of Management Cease Trade Order
HALIFAX, Nova Scotia, Aug. 13, 2025 (GLOBE NEWSWIRE) — ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the 'Company' or 'Elcora'), is providing this update on the status of a management cease trade order granted on July 30, 2025 (the 'MCTO') by the Nova Scotia Securities Commission under National Policy 12-203 – Management Cease Trade Order ('NP 12-203'). On July 14, 2025 and July 30, 2025, the Company announced that, for reasons disclosed in the news releases, there would be a delay in the filing of its financial statements and accompanying management's discussion and analysis for the fiscal year ended March 31, 2025 (the 'Annual Filings') beyond the period prescribed under applicable Canadian securities laws (the 'Default Announcement'). 'We remain committed to complete the audit as soon as possible,' said Troy Grant, CEO of the Company.
Yahoo
01-04-2025
- Business
- Yahoo
Avicanna Announces Late Filing of Financial Statements and Application for Management Cease Trade Order
Auditor Licensing & Personnel Issues Delays Issuance of Audit OpinionThe Company expects to file within 2 weeks TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- Avicanna Inc. ('Avicanna' or 'Company') (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products, announces that it will miss the deadline of March 31, 2025 ('Filing Deadline') to file the Company's audited consolidated financial statements for the year ended December 31, 2024 as required by National Instrument 51-102 and the Company's Management's Discussion & Analysis for the year ended December 31, 2024 (the 'Documents'). The Company's auditor, Ramirez Jimenez International CPAs ('RJI') informed the Company that although the audit work is substantially complete and they are prepared to issue the audit opinion, they are not able to do so prior to the filing deadline of March 31, 2025, due to unexpected matters. RJI has substantially finalized the 2024-year end audit engagement and has obtained a third-party engagement quality review (an EQR); however, due to the internal-RJI personnel and jurisdictional licensing issue that recently arose, RJI will not be able to issue the audit report by the filing deadline. RJI is addressing the matter and anticipates that it will not take more than two weeks to resolve the matter and issue the audit opinion, at which time the Company will also file the MD&A and Annual Information Form. Accordingly, the Company has informed staff of the Ontario Securities Commission about its anticipated delay in filing the Documents and has applied to the Ontario Securities Commission pursuant to Part 4 of National Policy 12-203 – Management Cease Trade Orders ('NP 12-203') for a Management Cease Trade Order ('MCTO') pending the filing of the Documents, which MCTO will prohibit the Company's management from trading in the securities of the Company until such time as the Documents are filed. No decision has yet been made by the Ontario Securities Commission on this application. The Ontario Securities Commission may grant the application and issue the Management Cease Trade Order, or it may impose an issuer cease trade order. There can be no assurance that a MCTO will be issued. The Company will comply with the alternative information guidelines set out in Section 9 of NP 12-203 and will file bi-weekly default status reports in the form of press releases. The Company anticipates and expects to file the Documents by April 15, 2025. The Company also announces the 2024 Full Year Earnings Conference Call scheduled for April 1, 2025, which was previously announced on March 18, 2025, will be postponed to a later date. About Avicanna: Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars. Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. Medical cannabis care platform ( is a medical cannabis care platform formed with the aim to better serve medical cannabis patients' needs and enhance the medical cannabis patients' journey. is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company's majority owned subsidiary Santa Marta Golden Hemp SAS ('SMGH') is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company's international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company's supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. SOURCE Avicanna Inc. Stay Connected For more information about Avicanna, visit our website or contact Ivana Maric by email at info@ Cautionary Note Regarding Forward-Looking Information and Statements This news release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, 'may', 'would', 'could', 'will', 'likely', 'expect', 'anticipate', 'believe', 'intend', 'plan', 'forecast', 'project', 'estimate', 'outlook' and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company's future business operations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company's annual information form dated April 1, 2024, filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Yahoo
28-02-2025
- Business
- Yahoo
Turnium Files Year End Financials and Provides MCTO Status Update
Vancouver, Canada--(Newsfile Corp. - February 28, 2025) - Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) ("Turnium" or the "Company") provides an update with respect to the previously announced Management Cease Trade Order (the "MCTO") issued by the British Columbia Securities Commission (the "BCSC") on January 29, 2025 (the "Default Announcement"). The Company is providing this notice in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"). The MCTO prevents the Company's Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") from trading in the Company's securities, but does not affect the ability of other shareholders, including the public, to trade in the securities of the Company. The Company confirms that the audited annual financial statements for the year ended September 30, 2024, along with the management's discussion and analysis and related CEO and CFO certificates for the period, which were required to be filed on or before January 28, 2025, have been filed on February 28, 2025. The MCTO will remain in effect until the quarterly financial statements for the three months ended December 31, 2024, along with the management's discussion and analysis and related CEO and CFO certificates for the period (the "2025 Q1 Filings") are filed. While the 2025 Q1 Filings were originally required to be filed on or before March 3, 2025, the BCSC has granted an extension, allowing them to be filed on or before March 7, 2025. As previously stated, subject to current conditions remaining the same, the Company remains confident in its ability to complete the 2025 Q1 Filings and will make its best efforts to complete the process within the timeline indicated. The MCTO remains in effect until the Company files the 2025 Q1 Filings and the BCSC's Executive Director has revoked the MCTO. The Company confirms that since the date of the Default Announcement, other than as described above: (a) there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12- 203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed. The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains delayed. About Turnium Technology Group Inc.: "Let's get IT done." Turnium Technology Group Inc. (TTGI) acquires companies that complement its Technology-as-a-Service (TaaS) strategy, integrates them to generate efficiencies, and delivers their solutions through a global channel partner program to customers worldwide. TTGI's mission is to provide IT providers with a complete, white-labelled portfolio of business technology solutions, enabling them to quickly add new services in response to customer demand. In essence, Turnium is building a TaaS platform that incorporates all the services, platforms, and capabilities that ISPs, MSPs, IT Providers, VoIP/UCaaS, CCaaS, or Cloud Providers might need. Additionally, Turnium provides deployment resources, hardware, delivery, support, and marketing and sales enablement to help channel partners go to market quickly and deliver exceptional quality. Turnium delivers secure, cost-effective, uninterrupted, and scalable global IT solutions to its channel partners and their end-customers-ensuring that "We get IT done, right." For more information, contact sales@ visit or follow us on Twitter @turnium. Turnium Contact: Investor Relations: Bill Mitoulas, Email: Telephone: +1 416-479-9547 Media inquiries: please email media@ inquiries: please email sales@ CAUTIONARY NOTES Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements with respect to: statements regarding the timing, review, completion and filing of the 2025 Q1 Filings by March 7, 2025, and the Company's ability to comply with the provisions of the alternative information guidelines described in NP 12-203. Such statements involve known and unknown risks, uncertainties, and other factors and assumptions which may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information including, without limitation, the risk of the Company not being able to file the 2025 Q1 Filings on time and the other factors disclosed under "Risk Factors" in the Company's Management's Discussion and Analysis for the year ended September 30, 2024, and those risks described in other documents incorporated or deemed to be incorporated by reference therein. Such statements can be identified by the use of words such as "expect", "anticipate", and other similar terminology, or state that certain actions, events, or results "may", "could", "might", or "will" be taken, occur, or be achieved. These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change. To view the source version of this press release, please visit Sign in to access your portfolio
