Deveron Announces Receipt of Cease Trade Order
Deveron Corp (TSXV: FARM) has received a cease trade order (CTO) from the Ontario Securities Commission due to failure to file required annual financial documents by the October 28, 2024 deadline. The missing documents include audited consolidated financial statements, management's discussion and analysis, and management certifications for the year ended June 30, 2024.
While the CTO is in effect, certain non-insider beneficial holders can sell securities through foreign organized regulated markets. The company expects operations to continue uninterrupted and anticipates the CTO will be lifted shortly after the required filings are submitted.
Deveron Corp (TSXV: FARM) ha ricevuto un'ordinanza di cessazione del commercio (CTO) dalla Commissione dei Titoli dell'Ontario a causa della mancata presentazione dei documenti finanziari annuali richiesti entro la scadenza del 28 ottobre 2024. I documenti mancanti includono bilanci consolidati auditati, una discussione e analisi della gestione, e le certificazioni di gestione per l'anno conclusosi il 30 giugno 2024.
Durante la validità della CTO, alcuni detentori non insider possono vendere titoli attraverso mercati regolamentati organizzati all'estero. L'azienda prevede che le operazioni continueranno senza interruzioni e anticipa che la CTO sarà revocata poco dopo la presentazione dei documenti richiesti.
Deveron Corp (TSXV: FARM) ha recibido una orden de cese de comercio (CTO) de la Comisión de Valores de Ontario debido a la falta de presentación de los documentos financieros anuales requeridos antes de la fecha límite del 28 de octubre de 2024. Los documentos faltantes incluyen estados financieros consolidados auditados, la discusión y análisis de la administración, y las certificaciones de la administración para el año que finalizó el 30 de junio de 2024.
Mientras la CTO esté en vigor, ciertos tenedores beneficiosos no insiders pueden vender valores a través de mercados regulados organizados en el extranjero. La compañía espera que las operaciones continúen sin interrupciones y anticipa que la CTO se levantará poco después de presentar los archivos requeridos.
Deveron Corp (TSXV: FARM)는 2024년 10월 28일까지 필요한 연간 재무 문서를 제출하지 않아 온타리오 증권위원회로부터 거래 중지 명령(CTO)을 받았습니다. 누락된 문서에는 감사된 연결 재무제표, 경영진의 논의 및 분석, 그리고 2024년 6월 30일로 종료된 연도의 경영진 인증이 포함됩니다.
CTO가 시행되는 동안 특정 비-insider 유익 소지자는 외국의 조직된 규제 시장을 통해 증권을 판매할 수 있습니다. 회사는 운영이 중단 없이 계속될 것으로 예상하며, 필요한 제출이 완료된 후 CTO가 곧 해제될 것으로 예상하고 있습니다.
Deveron Corp (TSXV: FARM) a reçu une ordonnance de cessation de négociation (CTO) de la part de la Commission des valeurs mobilières de l'Ontario en raison de l'absence de dépôt des documents financiers annuels requis avant la date limite du 28 octobre 2024. Les documents manquants comprennent des états financiers consolidés vérifiés, une discussion et analyse de la direction, ainsi que des certifications de la direction pour l'exercice clos le 30 juin 2024.
Alors que la CTO est en vigueur, certains détenteurs bénéficiaires non-insiders peuvent vendre des titres à travers des marchés réglementés organisés à l'étranger. La société s'attend à ce que ses opérations continuent sans interruption et prévoit que la CTO sera levée peu après la soumission des fichiers requis.
Deveron Corp (TSXV: FARM) hat eine Handelssperre (CTO) von der Ontarischen Wertpapieraufsicht erhalten, da die erforderlichen Jahresfinanzunterlagen bis zur Frist vom 28. Oktober 2024 nicht eingereicht wurden. Zu den fehlenden Dokumenten gehören geprüfte konsolidierte Finanzberichte, die Diskussion und Analyse der Geschäftsführung sowie die Managementzertifikate für das am 30. Juni 2024 endende Geschäftsjahr.
Während die CTO in Kraft ist, können bestimmte nicht-Insider-Nutznießer Wertpapiere über ausländisch organisierte regulierte Märkte verkaufen. Das Unternehmen erwartet, dass die Betriebsabläufe ohne Unterbrechung fortgesetzt werden und geht davon aus, dass die CTO kurz nach Einreichung der erforderlichen Unterlagen aufgehoben wird.
- Company operations expected to continue without interruption during CTO period
- Failure to file required annual financial documents by deadline
- Implementation of cease trade order restricting trading
- Management and insiders subject to trading black-out
Toronto, Ontario--(Newsfile Corp. - November 4, 2024) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), announces that, further to its press release of October 18, 2024, the Ontario Securities Commission (the "OSC") has issued a failure to file cease trade order against the Company in respect of the Company's securities under Multilateral Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions (the "CTO").
The CTO was issued as a result of the Company's failure to file its audited consolidated financial statements for the year ended June 30, 2024, annual management's discussion and analysis for the same period and management certifications of annual filings (collectively, the "Annual Filings") before the October 28, 2024, filing deadline.
Despite the CTO, a beneficial holder of a security of the Company who is not, and was not as of the date of the CTO, an insider or control person of the Company may sell securities of the Company acquired before the date of the CTO if: (a) 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 (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the Company's securities are urged to consult with their own investment advisors or legal counsel about the implications of the CTO.
The Company does not expect an interruption of the operations of the Company during the CTO. Revocation of the CTO is expected to occur within a few days after the Annual Filings are made.
Until the Company has filed the Annual Filings, members of the Company's management and other insiders are subject to an insider trading black-out. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing of the Company's latest interim financial report.
About Deveron: Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. Our team of agronomists and data scientists build products that recommend ways to better manage fertilizer, seed, fungicide, and other farm inputs. Additionally, we have a national network of data technicians that are deployed to collect various types of farm data, from soil to drones, that build a basis of our best-in-class data layers. Our focus is the US and Canada where 1 billion acres of farmland are actively farmed annually.
For more information and to join our community, please visit www.deveron.com/investors or reach us on Twitter @Deveron.
David MacMillan
Chief Executive Officer
dmacmillan@deveron.com
Tel: 647-963-2429
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228772
FAQ
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