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 management cease trade order (MCTO) granted on July 30, 2024, by the Nova Scotia Securities Commission. The MCTO was issued due to a delay in filing the company's financial statements and management's discussion and analysis for the fiscal year ended March 31, 2024. Elcora is working to complete the audit as soon as possible.
During the MCTO, the general public can continue trading Elcora's listed common shares, but the company's executives and directors are restricted from trading. Elcora confirms its intention to comply with National Policy 12-203 and will issue bi-weekly default status reports until the annual filings are completed.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha fornito un aggiornamento sull'
Durante l'MCTO, il pubblico generale può continuare a commerciare le azioni ordinarie quotate di Elcora, ma i dirigenti e i direttori dell'azienda sono vietati dal fare trading. Elcora conferma la sua intenzione di conformarsi alla Politica Nazionale 12-203 e rilascerà rapporti sullo stato di inadempienza ogni due settimane fino al completamento delle presentazioni annuali.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha proporcionado una actualización sobre la orden de cese de comercio por parte de la dirección (MCTO) concedida el 30 de julio de 2024 por la Comisión de Valores de Nueva Escocia. La MCTO se emitió debido a un retraso en la presentación de los estados financieros y el análisis y discusión de la dirección para el año fiscal que finalizó el 31 de marzo de 2024. Elcora está trabajando para completar la auditoría lo antes posible.
Durante la MCTO, el público en general puede continuar negociando las acciones comunes listadas de Elcora, pero los ejecutivos y directores de la empresa tienen restricciones para operar en el mercado. Elcora confirma su intención de cumplir con la Política Nacional 12-203 y emitirá informes de estado de incumplimiento cada dos semanas hasta que se completen las presentaciones anuales.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF)는 2024년 7월 30일 노바스코샤 증권위원회에서 발행한 경영 중단 거래 명령(MCTO)에 대한 업데이트를 제공했습니다. MCTO는 2024년 3월 31일 종료된 회계 연도에 대한 재무제표 및 경영진의 토론 및 분석을 제출하는 데 지연이 있었기 때문에 발행되었습니다. Elcora는 가능한 한 빨리 감사 작업을 완료하기 위해 노력하고 있습니다.
MCTO 기간 동안 일반 대중은 Elcora의 상장된 보통주를 계속 거래할 수 있지만, 회사의 임원과 이사는 거래가 제한됩니다. Elcora는 국가 정책 12-203을 준수할 의도를 확인하며 연례 제출이 완료될 때까지 2주마다 기본 상태 보고서를 발행할 것입니다.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) a fourni une mise à jour concernant l'ordre de cessation de négociation de la direction (MCTO) accordé le 30 juillet 2024 par la Commission des valeurs mobilières de la Nouvelle-Écosse. Le MCTO a été émis en raison d'un retard dans le dépôt des états financiers et de l'analyse et discussion de la direction pour l'exercice fiscal se terminant le 31 mars 2024. Elcora travaille à compléter l'audit le plus rapidement possible.
Durant la MCTO, le grand public peut continuer à négocier les actions ordinaires cotées d'Elcora, mais les dirigeants et les administrateurs de l'entreprise sont restreints dans leurs opérations de trading. Elcora confirme son intention de se conformer à la Politique nationale 12-203 et publiera des rapports de statut de défaut toutes les deux semaines jusqu'à ce que les dépôts annuels soient finalisés.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) hat ein Update zur Handelsverbot für das Management (MCTO) gegeben, das am 30. Juli 2024 von der Wertpapieraufsichtsbehörde Nova Scotia erlassen wurde. Das MCTO wurde aufgrund einer Verzögerung bei der Einreichung der Jahresabschlüsse und der Diskussion und Analyse des Managements für das am 31. März 2024 endende Geschäftsjahr erlassen. Elcora arbeitet daran, die Prüfung so schnell wie möglich abzuschließen.
Während der MCTO kann die Öffentlichkeit weiterhin die aufgeführten Stammaktien von Elcora handeln, aber die Führungskräfte und Direktoren des Unternehmens sind vom Handel ausgeschlossen. Elcora bestätigt seine Absicht, die nationale Richtlinie 12-203 einzuhalten, und wird alle zwei Wochen Berichte über den Status von Verzögerungen herausgeben, bis die Jahresmeldungen abgeschlossen sind.
- Company is actively working to complete the delayed audit
- General public can continue trading Elcora's common shares during MCTO
- Delay in filing annual financial statements and MD&A
- Management cease trade order (MCTO) issued by securities commission
- Company executives and directors restricted from trading shares
HALIFAX, Nova Scotia, Sept. 10, 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").
The Company continues to work diligently to conclude the audit as soon as possible and will continue to provide updates on its progress.
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 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
Why was a management cease trade order (MCTO) issued for Elcora Advanced Materials Corp. (ECORF)?
Can the public still trade Elcora Advanced Materials Corp. (ECORF) shares during the MCTO?
When does Elcora Advanced Materials Corp. (ECORF) expect to complete its delayed annual filings?
How often will Elcora Advanced Materials Corp. (ECORF) provide updates on the MCTO status?
