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 an extension for filing its Annual Filings and Interim Filings, now due by October 14, 2024. The delay affects financial statements for the fiscal year ended March 31, 2024, and the period ended June 30, 2024.
During the MCTO, the public can continue trading Elcora's listed common shares, but the company's executives and directors cannot. Elcora is working to complete its audit and filings as soon as possible. The company confirms its intention to comply with NP 12-203 and will continue issuing bi-weekly default status reports until the filings are completed.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha fornito un aggiornamento sullo stato di un ordine di cessazione del commercio da parte della dirigenza (MCTO) concesso il 30 luglio 2024 dalla Commissione di Securities della Nuova Scozia. L'azienda ha ricevuto un'estensione per la presentazione delle Dichiarazioni Annuali e Intermedie, ora da presentare entro il 14 ottobre 2024. Il ritardo riguarda i bilanci finanziari per l'anno fiscale chiuso il 31 marzo 2024 e il periodo terminato il 30 giugno 2024.
Durante il MCTO, il pubblico può continuare a commerciare le azioni ordinarie di Elcora, ma i dirigenti e i direttori dell'azienda non possono. Elcora sta lavorando per completare la propria revisione e le dichiarazioni il prima possibile. L'azienda conferma la propria intenzione di conformarsi all'NP 12-203 e continuerà a emettere rapporti sullo stato di default ogni due settimane fino a quando le dichiarazioni non saranno completate.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha proporcionado una actualización sobre el estado de una orden de cese de operaciones por parte de la gerencia (MCTO) concedida el 30 de julio de 2024 por la Comisión de Valores de Nueva Escocia. La empresa ha recibido una extensión para presentar sus Declaraciones Anuales e Interinas, que ahora deben ser presentadas antes del 14 de octubre de 2024. El retraso afecta los estados financieros del año fiscal terminado el 31 de marzo de 2024 y el período terminado el 30 de junio de 2024.
Durante el MCTO, el público puede continuar negociando las acciones comunes listadas de Elcora, pero los ejecutivos y directores de la empresa no pueden. Elcora está trabajando para completar su auditoría y presentaciones lo antes posible. La empresa confirma su intención de cumplir con el NP 12-203 y continuará emitiendo informes quincenales sobre el estado de incumplimiento hasta que se completen las presentaciones.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF)는 2024년 7월 30일 노바스코샤 증권위원회에서 승인한 경영진 거래 중지 명령(MCTO)의 상태에 대한 업데이트를 제공했습니다. 회사는 연간 제출 및 중간 제출 마감일을 2024년 10월 14일까지 연장 받았습니다. 이 지연은 2024년 3월 31일 종료된 회계연도와 2024년 6월 30일 종료된 기간의 재무제표에 영향을 미칩니다.
MCTO 기간 동안 대중은 Elcora의 상장된 보통주를 계속 거래할 수 있지만, 회사의 임원 및 이사는 거래할 수 없습니다. Elcora는 감사 및 제출을 가능한 한 빨리 완료하기 위해 노력하고 있습니다. 회사는 NP 12-203을 준수하겠다는 의사를 확인하고 제출이 완료될 때까지 격주로 기본 상태 보고서를 계속 발행할 것입니다.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) a fourni une mise à jour sur le statut d'un ordre de cessation de commerce par la direction (MCTO) accordé le 30 juillet 2024 par la Commission des valeurs mobilières de la Nouvelle-Écosse. La société a reçu une extension pour le dépôt de ses Dépôt Annuels et Intermédiaires, désormais dus pour le 14 octobre 2024. Ce retard affecte les états financiers pour l'exercice clos le 31 mars 2024 et la période close le 30 juin 2024.
Pendant le MCTO, le public peut continuer à échanger les actions ordinaires listées d'Elcora, mais les dirigeants et directeurs de l'entreprise ne le peuvent pas. Elcora s'efforce de terminer son audit et ses dépôts dès que possible. La société confirme son intention de se conformer à la NP 12-203 et continuera à émettre des rapports de statut par défaut toutes les deux semaines jusqu'à ce que les dépôts soient complétés.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) hat ein Update zum Status einer Management-Handelsstoppverordnung (MCTO) gegeben, die am 30. Juli 2024 von der Nova Scotia Securities Commission erteilt wurde. Das Unternehmen hat eine Verlängerung für die Einreichung seiner Jahres- und Zwischenberichte erhalten, die nun bis zum 14. Oktober 2024 fällig sind. Die Verzögerung betrifft die Finanzberichte für das am 31. März 2024 endende Geschäftsjahr und den Zeitraum, der am 30. Juni 2024 endet.
Während des MCTO kann die Öffentlichkeit weiterhin die gelisteten Stammaktien von Elcora handeln, jedoch können die Führungskräfte und Direktoren des Unternehmens dies nicht. Elcora arbeitet daran, die Prüfung und Einreichungen so schnell wie möglich abzuschließen. Das Unternehmen bestätigt seine Absicht, der NP 12-203 zu entsprechen, und wird weiterhin alle zwei Wochen Berichte über den Status der Nichteinhaltung herausgeben, bis die Einreichungen abgeschlossen sind.
- Extension granted for Annual and Interim Filings, providing more time to complete audit
- General public can continue trading Elcora's common shares during MCTO
- Delay in filing Annual and Interim Financial statements
- Management and directors restricted from trading company shares during MCTO
- Potential regulatory and compliance risks due to delayed filings
HALIFAX, Nova Scotia, Oct. 08, 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.
As indicated in its news release dated September 24, 2024, the Company applied for, and received, an 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 14, 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 Annual and Interim Financial statements?
Can the public trade Elcora (ECORF) shares during the Management Cease Trade Order?
What restrictions does the Management Cease Trade Order place on Elcora (ECORF) executives?
When was the original Management Cease Trade Order for Elcora (ECORF) granted?
