Latest news with #NationalInstrument51-102ContinuousDisclosureObligations
Yahoo
3 hours ago
- Business
- Yahoo
Cresco Labs Announces Change of Auditor
CHICAGO, June 12, 2025--(BUSINESS WIRE)--Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) ("Cresco Labs" or the "Company"), today announced it has changed its auditor from Marcum LLP ("Marcum") to Baker Tilly US, LLP ("Baker Tilly"). Cresco will seek shareholder ratification of Baker Tilly's appointment at the next annual meeting of shareholders. Marcum was terminated as the Company's auditor effective June 9, 2025, and Baker Tilly has been appointed as successor auditor effective June 12, 2025. The change in auditor was recommended and approved by the Company's audit committee and board of directors (the "Board"), respectively. "After an extensive three-month selection process, we are thrilled to appoint Baker Tilly as our independent auditor," said Sharon Schuler, CFO. "With the approval of our Board of Directors, Baker Tilly will begin their engagement with the review of our Q2 2025 financial statements. We are confident in their expertise and look forward to a collaborative partnership as we continue to maintain the highest standards of financial transparency and regulatory compliance." There were no modified opinions in Marcum's audit reports for any financial period during which Marcum was the Company's auditor. There are no "reportable events" (as such term is defined in National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102")) between the Company and Marcum. In accordance with NI 51-102, the change of auditor notice, together with the required letters from the Marcum and Baker Tilly, have been reviewed and approved, as applicable, by the Board and have been filed on SEDAR+. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production, and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's, and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development, and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. Forward-Looking Statements This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Such forward-looking statements are not representative of historical facts or information or current condition but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential,' or 'continue,' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2024, filed on SEDAR+ and EDGAR, other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs' shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event, or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise. View source version on Contacts Media Press@ Investors TJ Cole, Cresco LabsSVP, Corporate Development & Investor Relationsinvestors@ For general Cresco Labs inquiries: 312-929-0993info@ Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Business Wire
3 hours ago
- Business
- Business Wire
Cresco Labs Announces Change of Auditor
CHICAGO--(BUSINESS WIRE)--Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (' Cresco Labs ' or the ' Company '), today announced it has changed its auditor from Marcum LLP (' Marcum ') to Baker Tilly US, LLP (' Baker Tilly '). Cresco will seek shareholder ratification of Baker Tilly's appointment at the next annual meeting of shareholders. Marcum was terminated as the Company's auditor effective June 9, 2025, and Baker Tilly has been appointed as successor auditor effective June 12, 2025. The change in auditor was recommended and approved by the Company's audit committee and board of directors (the ' Board '), respectively. 'After an extensive three-month selection process, we are thrilled to appoint Baker Tilly as our independent auditor," said Sharon Schuler, CFO. "With the approval of our Board of Directors, Baker Tilly will begin their engagement with the review of our Q2 2025 financial statements. We are confident in their expertise and look forward to a collaborative partnership as we continue to maintain the highest standards of financial transparency and regulatory compliance." There were no modified opinions in Marcum's audit reports for any financial period during which Marcum was the Company's auditor. There are no "reportable events" (as such term is defined in National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102")) between the Company and Marcum. In accordance with NI 51-102, the change of auditor notice, together with the required letters from the Marcum and Baker Tilly, have been reviewed and approved, as applicable, by the Board and have been filed on SEDAR+. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production, and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's, and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development, and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. Forward-Looking Statements This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). Such forward-looking statements are not representative of historical facts or information or current condition but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential,' or 'continue,' or the negative of those forms or other comparable terms. The Company's forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under 'Risk Factors' in the Company's Annual Information Form for the year ended December 31, 2024, filed on SEDAR+ and EDGAR, other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs' shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event, or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
Business Upturn
01-05-2025
- Business
- Business Upturn
Marksmen Energy Inc. Announces Delay in Filing its 2024 Annual Financial Statements and Issuance of Promissory Note
CALGARY, ALBERTA,, May 01, 2025 (GLOBE NEWSWIRE) — Marksmen Energy Inc. ('Marksmen' or the 'Company') announced today that its annual financial statements, accompanying management's discussion and analysis and related chief executive officer ('CEO') and chief financial officer ('CFO') certifications for the financial year ended December 31, 2024 (the 'Annual Filings'), may not be filed within the period prescribed for the filing of such documents under Parts 4, 5 and 6 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings, namely within 120 days of year-end, being April 30, 2025 (the 'Filing Deadline'). The delay in filing the Annual Filings is related to the Company's inability to raise capital for the year 2024 and through Q1 2025 due to market conditions. As such, the Company experienced an unanticipated delay in receipt of funds to pay the Company's external auditor to complete the audit. Such funds have since been received by the Company on April 24, 2025 pursuant to the Loan described below. The Company has since engaged with its auditor to complete the audit to address the completion of the Annual Filings. Marksmen is working closely with its auditor MNP LLP and is making every effort to submit the Annual Filings in a timely fashion and expects to file no later than June 15, 2025. The Company is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders ('NP 12-203'). The Company has made an application to the Alberta Securities Commission, as principal regulator of the Company, a management cease trade order ('MCTO') under NP 12-203 in respect of the default regarding the Annual Filings. The MCTO will prohibit the CEO and the CFO from trading in securities of Marksmen for two full business days after all the required filings have been filed on SEDAR+. The issuance of the MCTO, if issued, does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company's securities. The application for the MCTO remains subject to the risk factors described in 'Forward Looking Information and Risk Factors' below, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the Company following the Filing Deadline. The Company confirms that it intends to satisfy the provisions of the alternative information guidelines found at sections 9 and 10 of NP 12-203 respecting Management Cease Trade Orders for so long as it remains in default as a result of the late filing of the Annual Filings. During the period of default, the Company will issue biweekly default status reports in the form of further news releases, which will also be filed on SEDAR+. The Company confirms that there are no insolvency proceedings against it as of the date of this news release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release. Promissory Note The Company also announces that it has obtained an unsecured non-convertible loan (the 'Loan') in the amount of CAD$250,000 from Conex Services Inc. ('Conex'). The Loan is evidenced by a promissory note issued by the Company to Conex on April 24, 2025 (the 'Promissory Note'). The amount outstanding under the Promissory Note bears interest at a rate of 15% per annum and is due and payable in full on December 31, 2025. Related Party Participation The Loan is being provided by Conex, which is an entity wholly owned by Glenn Walsh, an insider of the Company by virtue of holding more than 10% of the outstanding common shares of the Company. As an insider of the Company participated in this transaction, it is deemed to be a 'related party transaction' as defined under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions ('MI 61-101'). Since the Promissory Note is not convertible into shares of Marksmen, there will be no effect on the voting interests of any related parties. The Promissory Note was approved by all of the directors of Marksmen. The entering into of the Promissory Note with respect to the Loan is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(b) and 5.7(1)(f)) as the Company is not listed on a specified market and the Loan is not convertible into or repayable with equity or voting securities of the Company. For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail [email protected] . Forward Looking Information and Risk Factors This news release contains statements and information that may constitute 'forward-looking information' within the meaning of applicable securities legislation, including statements identified by the use of words such as 'will', 'expects', 'positions', 'believe', 'potential' and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or may contain statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'will continue', 'will occur' or 'will be achieved'. The forward-looking information contained herein may include, but is not limited to, information concerning the estimated filing date of the Annual Filings, and whether the Alberta Securities Commission will grant the Company's application for an MCTO. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings are filed later than anticipated, the risk that the Company's application for an MCTO is not successful for any reason, in which case there is a risk that trading in the Company's securities may halted by the TSX Venture Exchange and/or cease traded temporarily by the Canadian securities commissions after the Filing Deadline until such time as the Annual Filings are filed on SEDAR+. Additional information regarding risks and uncertainties of the Company's business are contained under the headings 'Financial Risk Management' and 'Going Concern' in the Company's Management's Discussion & Analysis for the condensed interim consolidated financial statements for the nine months ended September 30, 2024 and the Company's other public filings which are available under the Company's profile on SEDAR+ at . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
04-03-2025
- Business
- Yahoo
Annual General and Special Meeting of Securityholders Report of Voting Results
Pursuant to Section 11.3 of National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102") TORONTO, ON / ACCESS Newswire / March 3, 2025 / This report is submitted for and on behalf of the Corporation pursuant to Section 11.3 of NI 51-102 and sets out the matters voted upon at the annual general and special meeting of the holders of common shares in the capital of the Corporation ("Shares") held on March 3, 2025 (the "Meeting"). Full details of this matter are set out in the management information circular of the Corporation dated January 22, 2025 (the "Circular") in respect of the Meeting, which is available under the Corporation's profile on SEDAR+ at We hereby advise of the following attendance and voting results, as tabulated at the Meeting: Total Shares issued and outstanding as at record date (January 16, 2025) 244,738,654 Total Shares represented at the Meeting in person and by proxyand entitled to vote at the Meeting 53,043,300 Percentage of total Shares represented at the Meeting (%) 21.67 % 1. Election of Directors By a vote conducted by way of show of hands, the seven (7) nominees proposed as directors were elected to hold office until the next annual meeting of shareholders or until his or her successor is duly elected or appointed. The Shares were voted as follows: Votes For % For Votes Withheld % Withheld Votes Against % Against Amanda Fullerton 46,984,221 89.44 % 5,550,055 10.57 % 0 0 % Fergus Kerr 52,484,221 99.91 % 50,055 0.095 % 0 0 % Roger Emdin 52,484,221 99.91 % 50,055 0.095 % 0 0 % Mark Trevisiol 52,534,221 100 % 55 0 % 0 0 % Deborah Battiston 52,484,221 99.91 % 55,055 0.095 % 0 0 % Perry N. Dellelce 49,984,221 95.15 % 2,550,055 4.85 % 0 0 % Dario Zulich 52,484,221 99.91 % 50,055 0.095 % 0 0 % 2. Appointment of Auditors By a vote conducted by way of show of hands, McGovern Hurley LLP, Chartered Professional Accountants, were appointed as auditors of the Corporation to hold office until the close of business of the next annual meeting of shareholders or until a successor is appointed and the board of directors of the Corporation was authorized to fix their remuneration (the "Auditor Resolution"). The Shares were voted as follows: Votes For % For Votes Withheld % Withheld Votes Against % Against Auditor Resolution 52,993,300 99.91 % 50,000 0.095 0 0 % 3. Approval of the Stock Option Plan Resolution By a vote conducted by way of show of hands, the amendments to the stock option plan of the Corporation (the "Stock Option Plan Resolution"), as more particularly described in the Circular was approved in accordance with the rules of Cboe Canada (the "Exchange"). The Shares were voted as follows: Votes For % For Votes Withheld % Withheld Votes Against % Against Stock Option Plan Resolution 50,034,276 95.24 % 0 0 2,500,000 4.76 % 4. Approval of the Reapproval Resolution for the Security Based Compensation Arrangements By a vote conducted by way of show of hands, the resolution in respect of the reapproval of the security-based compensation arrangements, including the approval of all unallocated awards, rights and other entitlements under the performance and restricted share unit plan and incentive stock option plan, as amended was approved in accordance with the rules of the Exchange. The Shares were voted as follows: Votes For % For Votes Withheld % Withheld Votes Against % Against Reapproval Resolution for the Security Based Compensation Arrangements 45,510,943 86.63 % 0 0 7,023,333 13.37 % MCFARLANE LAKE MINING LIMITED "Mark Trevisiol" Mark TrevisiolChief Executive Officer & Directorinfo@ SOURCE: McFarlane Lake Mining Limited View the original press release on ACCESS Newswire
