Braxia Scientifi - BRAXF STOCK NEWS

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) announced significant changes in its leadership structure. Jerry Habuda resigned as director on November 12, 2024, with Peter Rizakos appointed as his replacement on the same date. Additionally, Roger McIntyre stepped down from his positions as director and CEO on November 13, 2024. Following these changes, the company's board of directors now consists of Ahmed Shehata and Peter Rizakos.

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) (FSE: 4960) held its Annual General and Special Meeting of Shareholders on October 9, 2024. Key outcomes include:

1. Election of three directors: Roger McIntyre, Ahmed Shehata, and Jerry Habuda.
2. Appointment of DMCL as auditors.
3. Approval of the special resolution for the sale of substantially all of the Company's assets, including those of Canadian Rapid Treatment Center of Excellence Inc., to Kris Kratiuk.

The meeting had a 9.9% representation of issued and outstanding common shares. Braxia intends to proceed with closing the transaction with the Purchaser as soon as possible.

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) (FSE: 4960) has announced its upcoming annual general and special meeting (AGM) for common shareholders. The Meeting is scheduled for Wednesday, October 9, 2024, at 10:00 a.m. Toronto time. It will be held in person at 1430 Hurontario Street, Mississauga, Ontario, L5G 3H4.

Shareholders are advised that remote participation via teleconference or other electronic means will not be available for voting or other meeting activities. The company encourages shareholders to vote in advance following the instructions provided in the meeting materials, including the Management Information Circular. These documents are accessible on SEDAR+ and the company's website.

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) announced that the Ontario Securities Commission issued a failure-to-file cease trade order (FFCTO) on August 2, 2024. This order is due to the company's failure to file its audited annual financial statements, management discussion and analysis, and CEO/CFO certificates for the year ended March 31, 2024. The FFCTO prohibits trading of Braxia's securities in Canada, including through the CSE, with exceptions for certain beneficial securityholders. The company is not currently subject to insolvency proceedings and attributes the delay to additional complexities in the audit process. Braxia intends to file the required documents as soon as possible and will provide updates as more information becomes available.

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) has announced that the Ontario Securities Commission (OSC) has denied its application for a voluntary management cease trade order (MCTO). The company will not meet the July 29, 2024 deadline for filing its audited annual financial statements and related documents for the year ended March 31, 2024. As a result, a Failure to File Cease Trade Order (FFCTO) is expected to be issued, leading to a suspension of trading in the company's shares.

Braxia Scientific aims to file the required documents by September 15, 2024, but is currently behind in payments to auditors and seeking funding to cover audit expenses. Additionally, Peter Rizakos has resigned as director, General Counsel, and CFO, but will continue in an unofficial consulting role. The company is actively seeking a replacement for the CFO and board position.

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) has applied for a management cease trade order (MCTO) with the Ontario Securities Commission due to an expected delay in filing its audited annual financial statements for the year ended March 31, 2024. The delay is attributed to changes in the company's CFO and departure of senior management. If granted, the MCTO will prohibit the CEO and CFO from trading company securities until the required filings are completed.

The company anticipates filing the required documents by September 15, 2024, missing the original July 31, 2024 deadline. During this period, public trading of Braxia's securities will continue. The company will follow alternative information guidelines as outlined in National Policy 12-203 while the required filings are outstanding.

Braxia Scientific Corp. Announces Financial Statements for Q3 2024, Revenue Growth, and Strategic Review

Braxia Scientific Corp. announces the mandatory conversion of $2,935,714 in convertible debentures into 19,571,411 common shares at a conversion price of $0.15 per common share. The company specializes in providing innovative ketamine and psilocybin treatments for depression and related disorders.

Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) (FSE: 4960), a medical research company offering innovative ketamine and psilocybin treatments for depression and related disorders, announced strong revenue growth and the initiation of a strategic review process. Revenue increased by 30.5% to $0.594 million for the three months ended September 30, 2023, and by 36.8% to $1.19 million for the six months ended September 30, 2023. However, the company reported a net loss of $0.275 million for the three months ended September 30, 2023, with a working capital deficit of $0.961 million as of September 30, 2023.