Elcora Provides Update on Status of Management Cease Trade Order
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) has provided an update on the status of a management cease trade order (MCTO) granted on July 30, 2024, by the Nova Scotia Securities Commission. The company has received a further extension of its MCTO due to delays in filing its financial statements for the fiscal year ended March 31, 2024, and the interim financial statements for the period ended June 30, 2024.
Elcora is now required to complete its Annual Filings and Interim Filings by October 28, 2024. The company continues to work on concluding its audit and completing its Interim Filings. During the MCTO, the general public can trade the company's listed common shares, but the CEO, CFO, and directors cannot.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha fornito un aggiornamento sullo stato di un ordine di sospensione del commercio da parte della direzione (MCTO) concesso il 30 luglio 2024 dalla Commissione dei titoli della Nova Scotia. L'azienda ha ricevuto un'ulteriore estensione del suo MCTO a causa di ritardi nella presentazione dei bilanci finanziari per l'anno fiscale chiuso il 31 marzo 2024 e dei bilanci intermedi per il periodo chiuso il 30 giugno 2024.
Elcora deve ora completare le sue dichiarazioni annuali e intermedie entro il 28 ottobre 2024. L'azienda continua a lavorare per concludere la sua revisione e completare le sue dichiarazioni intermedie. Durante il MCTO, il pubblico può negoziare le azioni comuni quotate dell'azienda, ma il CEO, il CFO e i direttori non possono.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha proporcionado una actualización sobre el estado de una orden de cese de comercio por parte de la dirección (MCTO) otorgada el 30 de julio de 2024 por la Comisión de Valores de Nueva Escocia. La empresa ha recibido una extensión adicional de su MCTO debido a retrasos en la presentación de sus estados financieros para el año fiscal que terminó el 31 de marzo de 2024 y los estados financieros interinos para el período que finalizó el 30 de junio de 2024.
Elcora ahora debe completar sus Presentaciones Anuales y Presentaciones Interinas antes del 28 de octubre de 2024. La empresa sigue trabajando para concluir su auditoría y completar sus Presentaciones Interinas. Durante el MCTO, el público puede negociar las acciones ordinarias de la empresa, pero el CEO, el CFO y los directores no pueden.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF)는 2024년 7월 30일 노바 스코샤 증권 위원회에서 발급한 경영 중단 거래 명령 (MCTO)의 상태에 대한 업데이트를 제공했습니다. 회사는 2024년 3월 31일로 종료된 회계 연도의 재무 제표와 2024년 6월 30일로 종료된 기간의 중간 재무 제표 제출 지연으로 인해 MCTO의 추가 연장을 받았습니다.
Elcora는 이제 2024년 10월 28일까지 연간 제출 서류와 중간 제출 서류를 완료해야 합니다. 회사는 감사 마무리와 중간 제출 서류 완료를 위해 계속 작업하고 있습니다. MCTO 기간 동안 일반 대중은 회사의 상장된 보통주를 거래할 수 있지만 CEO, CFO 및 이사는 거래할 수 없습니다.
La société Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) a fourni une mise à jour sur l'état d'un arrêt de négociation de direction (MCTO) accordé le 30 juillet 2024 par la Commission des valeurs mobilières de la Nouvelle-Écosse. L'entreprise a reçu une nouvelle prolongation de son MCTO en raison de retards dans le dépôt de ses états financiers pour l'exercice clos le 31 mars 2024 et des états financiers intermédiaires pour la période close le 30 juin 2024.
Elcora doit désormais compléter ses dépôts annuels et intermédiaires avant le 28 octobre 2024. L'entreprise continue de travailler à la finalisation de son audit et à la soumission de ses dépôts intermédiaires. Pendant la MCTO, le grand public peut négocier les actions ordinaires de l'entreprise, mais le PDG, le directeur financier et les administrateurs ne peuvent pas.
Die Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) hat ein Update zum Status eines Management-Handelsstopps (MCTO) gegeben, der am 30. Juli 2024 von der Nova Scotia Securities Commission erteilt wurde. Das Unternehmen hat eine weitere Verlängerung seines MCTO aufgrund von Verzögerungen bei der Einreichung seiner Finanzberichte für das zum 31. März 2024 endende Geschäftsjahr und der Zwischenfinanzberichte für den Zeitraum zum 30. Juni 2024 erhalten.
Elcora muss nun seine Jahres- und Zwischenberichte bis zum 28. Oktober 2024 einreichen. Das Unternehmen arbeitet weiterhin daran, seine Prüfung abzuschließen und die Zwischenberichte zu vervollständigen. Während der MCTO kann die Öffentlichkeit die börsennotierten Stammaktien des Unternehmens handeln, jedoch kann der CEO, CFO und die Direktoren dies nicht.
- The company has been granted an extension for filing financial statements, allowing more time to complete the audit process
- General public can continue trading the company's listed common shares during the MCTO period
- Delay in filing annual and interim financial statements beyond the prescribed period
- Management and directors are restricted from trading company shares during the MCTO period
- Additional time required to complete audit tasks for the Moroccan subsidiary, indicating potential complexities
HALIFAX, Nova Scotia, Oct. 16, 2024 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the "Company" or "Elcora"), is providing this update on the status of a management cease trade order granted on July 30, 2024 (the "MCTO") by the Nova Scotia Securities Commission under National Policy 12-203 – Management Cease Trade Order ("NP 12-203"). On July 12, 2024 and July 30, 2024, the Company announced that, for reasons disclosed in the news releases, there would be a delay in the filing of its financial statements and accompanying management’s discussion and analysis for the fiscal year ended March 31, 2024 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement"). Subsequently, there has been a delay in the filing of the Company’s interim financial statements for the period ended June 30, 2024 (the “Interim Filings”) that were due for filing on August 29, 2024.
Due to further time required to complete certain audit tasks with respect to its subsidiary in Morocco, the Company applied for, and received, a further extension of its MCTO by the Nova Scotia Securities Commission. The Company is now required to complete its Annual Filings and Interim Filings by October 28, 2024.
The Company continues to work on concluding its audit and complete its Interim Filings as soon as possible.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's chief executive officer, chief financial officer, and directors, will not be able to trade in the Company's common shares.
Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings and Interim Filings requirement.
About Elcora Advanced Materials Corp.
Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine, and produce battery related minerals and metals. As part of the vertical integration strategy Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery minerals and metals industry.
For further information please visit the company's website at:
For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847
Qualifying Statements: Klaus Leiders P. Eng., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora’s expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
FAQ
What is the new deadline for Elcora (ECORF) to file its financial statements?
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