Body and Mind Announces Cease Trade Order & Director Resignation
Body and Mind (BMMJ) has received a cease trade order (CTO) from the British Columbia Securities Commission due to failure to file required financial statements and reports for periods ending July 31, 2024, and October 31, 2024. The CTO prohibits trading of company securities in Canada, including trades through the Canadian Securities Exchange.
An exception exists for non-insider beneficial securityholders who acquired shares before January 28, 2025, allowing them to sell through foreign organized regulated markets via registered Canadian investment dealers. The CTO will remain until all required filings are submitted.
Additionally, director Josh Rosen has resigned from the company's board.
Body and Mind (BMMJ) ha ricevuto un'ordinanza di cessazione del commercio (CTO) dalla British Columbia Securities Commission a causa del mancato invio dei documenti e dei rapporti finanziari richiesti per i periodi conclusi il 31 luglio 2024 e il 31 ottobre 2024. La CTO vieta il commercio dei titoli della società in Canada, comprese le operazioni attraverso la Canadian Securities Exchange.
Esiste un'eccezione per gli azionisti beneficiari non insider che hanno acquisito azioni prima del 28 gennaio 2025, consentendo loro di vendere tramite mercati regolamentati esteri attraverso intermediari di investimento canadesi registrati. La CTO rimarrà in vigore fino a quando tutte le presentazioni richieste non saranno effettuate.
Inoltre, il direttore Josh Rosen si è dimesso dal consiglio di amministrazione della società.
Body and Mind (BMMJ) ha recibido una orden de cese de negociación (CTO) de la British Columbia Securities Commission debido a la falta de presentación de los estados financieros y los informes requeridos para los períodos que terminan el 31 de julio de 2024 y el 31 de octubre de 2024. La CTO prohíbe la negociación de valores de la empresa en Canadá, incluidas las operaciones a través de la Canadian Securities Exchange.
Existe una excepción para los tenedores de valores beneficiarios no internos que adquirieron acciones antes del 28 de enero de 2025, lo que les permite vender a través de mercados regulados extranjeros a través de distribuidores de inversiones canadienses registrados. La CTO permanecerá en vigor hasta que se presenten todos los archivos requeridos.
Además, el director Josh Rosen ha renunciado a la junta de la empresa.
Body and Mind (BMMJ)는 2024년 7월 31일 및 2024년 10월 31일에 종료되는 기간에 대한 요구된 재무제표 및 보고서를 제출하지 않아 브리티시컬럼비아 증권 위원회로부터 거래 중단 명령(CTO)을 받았습니다. CTO는 캐나다 내 회사 증권 거래를 금지하며, 캐나다 증권 거래소를 통한 거래도 포함됩니다.
2025년 1월 28일 이전에 주식을 인수한 비내부 유익 보유자에게는 예외가 있으며, 이들은 등록된 캐나다 투자 거래자를 통해 외국에서 조직된 규제 시장에서 매도할 수 있습니다. 모든 필수 제출물이 제출될 때까지 CTO는 유지됩니다.
또한, 이사 Josh Rosen이 회사 이사회를 사임했습니다.
Body and Mind (BMMJ) a reçu un ordre de cessation de négociation (CTO) de la British Columbia Securities Commission en raison du non-respect de l'obligation de soumettre les états financiers et les rapports requis pour les périodes se terminant le 31 juillet 2024 et le 31 octobre 2024. Le CTO interdit la négociation des titres de la société au Canada, y compris les transactions via la Canadian Securities Exchange.
Une exception existe pour les détenteurs de titres bénéficiaires non initiés ayant acquis des actions avant le 28 janvier 2025, leur permettant de vendre sur des marchés étrangers organisés et réglementés via des courtiers en placements canadiens enregistrés. Le CTO restera en vigueur tant que tous les dépôts requis ne seront pas soumis.
De plus, le directeur Josh Rosen a démissionné du conseil d'administration de la société.
Body and Mind (BMMJ) hat von der British Columbia Securities Commission eine Handelsstoppverfügung (CTO) erhalten, da die erforderlichen Finanzberichte und -dokumente für die Zeiträume zum 31. Juli 2024 und 31. Oktober 2024 nicht eingereicht wurden. Die CTO verbietet den Handel mit Unternehmenswerten in Kanada, einschließlich Transaktionen über die Canadian Securities Exchange.
Es gibt eine Ausnahme für nicht-internen begünstigten Wertpapierinhaber, die vor dem 28. Januar 2025 Aktien erworben haben, die es ihnen ermöglicht, über ausländisch organisierte regulierte Märkte über registrierte kanadische Investmenthändler zu verkaufen. Die CTO bleibt bestehen, bis alle erforderlichen Einreichungen eingereicht wurden.
Darüber hinaus hat der Direktor Josh Rosen seinen Rücktritt vom Vorstand des Unternehmens bekannt gegeben.
- None.
- Cease trade order issued due to failure to file required financial statements
- Trading of company securities prohibited in Canadian jurisdictions
- Multiple filing deadlines missed for both annual and interim financial reports
- Director Josh Rosen resigned from the board
- Ongoing delays in completing required financial filings
Las Vegas, Nevada and Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) (the "Company" or "BaM") announces that further to its news releases dated November 29, 2024, December 13, 2024, December 30, 2024, January 6, 2025 and January 20, 2025, the Company's principal regulator in Canada, the British Columbia Securities Commission (the "BCSC"), has issued a cease trade order (the "CTO") to the Company as a result of the Company's inability to file its annual audited financial statements for the year ended July 31, 2024, its interim financial report for the period ended October 31, 2024, the related management's discussion and analysis for the periods ended July 31, 2024 and October 31, 2024, and the required CEO and CFO certifications of annual and interim filings for the periods ended July 31, 2024 and October 31, 2024 (collectively, the "Required Filings") by the applicable filing deadlines.
The CTO 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, including trades in the Company's shares of common stock made through the Canadian Securities Exchange, for as long as the CTO remains in effect. The CTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of January 28, 2025) insiders or control persons of the Company and who sell securities of the Company acquired before January 28, 2025, if both of the following criteria are met: (i) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada, and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
The CTO will remain in place until such time as the Required Filings have been filed, following which the Company expects that the BCSC will revoke the CTO. The Company is continuing to make efforts to file the Required Filings as soon as possible. The Company will endeavour to issue regular news releases to keep the investing public apprised of the situation and the progress of its audit and filing efforts.
Additionally, the Company announces that Josh Rosen has resigned as a director of the Company. The Company would like to thank Josh for his valuable work and dedication. Josh's experience and support have been crucial to advancing the Company and we wish him all the best with his future endeavours.
About Body and Mind Inc.
BaM is an operations-focused cannabis company which operates retail cannabis dispensaries in California and Illinois, and pending retail operations in Illinois and New Jersey. We work daily to increase our market share through delighting customers while also continuing to hone our operational efficiencies to drive profits. We are primarily guided by the metric of return on investment. Currently, we believe the most significant return on investment projects in front of us are successful retail cannabis store launches in Illinois and New Jersey, which augment our existing retail footprint.
Please visit www.bodyandmind.com for more information.
Instagram: @bodyandmindBaM
Twitter: @bodyandmindBaM
For further information, please contact:
Company Contact:
Michael Mills
President and CEO
Tel: 800-361-6312
ir@bamcannabis.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management, a well as the timing for preparation and filing of the 2024 Annual Financial Filings, and the timing and duration of the management cease trade order under National Policy 12-203. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy our securities.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238813
FAQ
Why was Body and Mind (BMMJ) issued a cease trade order in January 2025?
Can investors still trade BMMJ shares under the January 2025 cease trade order?
What financial reports are missing that led to BMMJ's cease trade order?
When will BMMJ's cease trade order be lifted?
