Aion Therapeutic Provides Bi-Weekly MCTO Status Update
Aion Therapeutic Inc. (CSE: AION) has provided a bi-weekly update on its management cease trade order (MCTO) issued on August 29, 2024, by the British Columbia Securities Commission. The company is unable to file its annual and interim financial statements due to complexities associated with the acquisition of Toppen Health, Inc. on December 15, 2023. The BCSC has extended the deadline for Annual Filings to October 28, 2024, which the company expects to meet. Aion Therapeutic confirms there are no material changes to the information in the Default Announcement and is complying with the Alternative Information Guidelines set out in NP 12-203.
Aion Therapeutic Inc. (CSE: AION) ha fornito un aggiornamento bisettimanale riguardo al suo ordine di cessazione della negoziazione da parte della direzione (MCTO) emesso il 29 agosto 2024 dalla British Columbia Securities Commission. L'azienda è incapace di presentare i propri bilanci annuali e intermedi a causa delle complessità associate all'acquisizione di Toppen Health, Inc. il 15 dicembre 2023. La BCSC ha esteso la scadenza per le dichiarazioni annuali al 28 ottobre 2024, che l'azienda prevede di rispettare. Aion Therapeutic conferma che non ci sono cambiamenti materiali alle informazioni contenute nell'Annuncio di Default e sta conformandosi alle Linee Guida sulle Informazioni Alternative stabilite nel NP 12-203.
Aion Therapeutic Inc. (CSE: AION) ha proporcionado una actualización bi-semanal sobre su orden de cese de negociación de la dirección (MCTO) emitido el 29 de agosto de 2024 por la British Columbia Securities Commission. La empresa es incapaz de presentar sus estados financieros anuales e interinos debido a las complejidades asociadas con la adquisición de Toppen Health, Inc. el 15 de diciembre de 2023. La BCSC ha extendido la fecha límite para las Presentaciones Anuales al 28 de octubre de 2024, que la empresa espera cumplir. Aion Therapeutic confirma que no hay cambios materiales en la información del Anuncio de Incumplimiento y está cumpliendo con las Pautas de Información Alternativa establecidas en el NP 12-203.
Aion Therapeutic Inc. (CSE: AION)는 2024년 8월 29일 브리티시컬럼비아증권위원회에 의해 발행된 경영 중단 거래 명령 (MCTO)에 대한 격주 업데이트를 제공했습니다. 회사는 2023년 12월 15일 Toppen Health, Inc. 인수와 관련된 복잡성으로 인해 연간 및 중간 재무제표를 제출할 수 없습니다. BCSC는 연간 제출 마감일을 2024년 10월 28일로 연장했으며, 회사는 이를 준수할 것으로 예상하고 있습니다. Aion Therapeutic은 기본 발표 정보에 중대한 변경이 없다고 확인하며 NP 12-203에 명시된 대체 정보 지침을 준수하고 있습니다.
Aion Therapeutic Inc. (CSE: AION) a fourni une mise à jour bihebdomadaire concernant son ordre de cessation de négociation par la direction (MCTO) émis le 29 août 2024 par la Commission des valeurs mobilières de la Colombie-Britannique. L'entreprise est dans l'incapacité de déposer ses états financiers annuels et intermédiaires en raison des complexités associées à l'acquisition de Toppen Health, Inc. le 15 décembre 2023. La BCSC a prolongé la date limite de dépôt des états financiers annuels au 28 octobre 2024, délais que l'entreprise prévoit de respecter. Aion Therapeutic confirme qu'il n'y a aucun changement matériel dans les informations du communiqué de défaut et qu'elle respecte les directives d'information alternative énoncées dans le NP 12-203.
Aion Therapeutic Inc. (CSE: AION) hat ein zweiwöchentliches Update zu seinem Handelsstopp-Beschluss der Geschäftsführung (MCTO) bereitgestellt, das am 29. August 2024 von der British Columbia Securities Commission erlassen wurde. Das Unternehmen ist nicht in der Lage, seine Jahres- und Zwischenabschlüsse einzureichen, aufgrund der Komplexität im Zusammenhang mit der Akquisition von Toppen Health, Inc. am 15. Dezember 2023. Die BCSC hat die Frist für die Jahresmeldungen auf den 28. Oktober 2024 verlängert, die das Unternehmen voraussichtlich einhalten wird. Aion Therapeutic bestätigt, dass es keine wesentlichen Änderungen an den Informationen im Default-Ankündigungsdokument gibt und dass es die Alternativen Informationsrichtlinien gemäß NP 12-203 einhält.
- Extension granted by BCSC for Annual Filings until October 28, 2024
- Company anticipates meeting the extended filing deadline
- No material changes to the information in the Default Announcement
- Delay in filing Annual and Interim Financial Statements
- Management Cease Trade Order (MCTO) in effect
- Complexities in accounting and audit process due to Toppen Health, Inc. acquisition
Toronto, Ontario--(Newsfile Corp. - October 10, 2024) - Aion Therapeutic Inc. (CSE: AION) ("Aion Therapeutic" or the "Company") is providing this bi-weekly update on the status of its management cease trade order issued on August 29, 2024 (the "MCTO"), by its principal regulator, the British Columbia Securities Commission (the "BCSC"), under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company announced on August 14, 2024 (the "Default Announcement"), that it expected to be unable to file its annual audited consolidated financial statements for the financial year ended April 30, 2024, the related annual management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") by the filing deadline of August 28, 2024 (the "Filing Deadline") and last provided an update on the status of the MCTO on September 26, 2024.
As a result of the delay in filing the Annual Filings, the Company was unable to file its unaudited interim financial statements, related management's discussion and analysis and CEO and CFO certifications for the three months ended July 31, 2024 (the "Interim Filings", and together with the Annual Filings, the "Required Documents"). Under National Instrument 51-102 – Continuous Disclosure Obligations, the Interim Filings were required to be made no later than September 30, 2024.
As a result of certain complexities associated with the acquisition of Toppen Health, Inc. on December 15, 2023, the accounting and audit process remains ongoing at this time. The BCSC has given the Company until October 28, 2024 to complete its Annual Filings, which the Company anticipates being in a position to meet.
The Company confirms that, other than as set out above, 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 set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default with respect to the Required Documents; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Documents; (iii) the Company confirms as of the date of this news release, that there is no insolvency proceeding against it; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Aion Therapeutic Inc.
Aion Therapeutic is a forward-thinking business within the health and wellness sector with a diverse portfolio of intellectual property. With a commitment to innovation and transformative solutions, the Company is poised to drive positive change to redefine the boundaries of health and wellness.
Toppen, a wholly-owned subsidiary of Aion Therapeutic, is a US-based health and wellness company dedicated to delivering state-of-the-art water filtration solutions. With a focus on innovation, affordability, and sustainability, Toppen's water filtration solutions are designed to meet the diverse needs of consumers, businesses, and industries around the world as they strive to provide access to clean and safe water.
For further information, please contact:
Aion Therapeutic Inc.
Graham Simmonds
Executive Chair & CEO
(416) 843-2881
DISCLAIMER & READER ADVISORY
This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward looking statements in this press release include statements regarding: Aion Therapeutic and Toppen's business, business goals and management's expectation on the growth and performance of its business; the preparation and timing of filing the Required Documents. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information, such as, without limitation, the risk that the parties will be unable to complete, in a timely manner, the Required Documents.
In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226200
FAQ
Why is Aion Therapeutic (ANTCF) under a management cease trade order?
When is the new deadline for Aion Therapeutic (ANTCF) to file its Annual Filings?
What financial documents is Aion Therapeutic (ANTCF) currently delayed in filing?
Has Aion Therapeutic (ANTCF) provided any updates on its financial filing status?
