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 for the fiscal year ended March 31, 2024. CEO Troy Grant stated that the company is working hard to complete the remaining audit tasks.
During the MCTO, the general public can continue trading Elcora's common shares, but the company's executives and directors cannot. Elcora confirms its intention to comply with NP 12-203 and will issue bi-weekly default status reports until the Annual Filings requirement is met. The company, founded in 2011, is structured as a vertically integrated battery material company, focusing on processing, refining, and producing battery-related minerals and metals.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha fornito un aggiornamento sull'ordine di interruzione commerciale della gestione (MCTO) concesso il 30 luglio 2024 dalla Nova Scotia Securities Commission. L'MCTO è stato emesso a causa di un ritardo nella presentazione dei bilanci finanziari della società e nella discussione della direzione per l'esercizio terminato il 31 marzo 2024. Il CEO Troy Grant ha dichiarato che l'azienda sta lavorando duramente per completare le restanti attività di revisione.
Durante l'MCTO, il pubblico generale può continuare a scambiare le azioni comuni di Elcora, ma i dirigenti e i direttori della società non possono. Elcora conferma la sua intenzione di conformarsi al NP 12-203 e emetterà rapporti sullo stato di default ogni due settimane fino a quando non saranno soddisfatti i requisiti per le dichiarazioni annuali. L'azienda, fondata nel 2011, è strutturata come una società di materiali per batterie verticalmente integrata, concentrandosi sulla lavorazione, raffinazione e produzione di minerali e metalli legati alle batterie.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha proporcionado una actualización sobre la orden de cese de comercio administrativo (MCTO) otorgada 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 de la empresa y la discusión de la dirección para el año fiscal que terminó el 31 de marzo de 2024. El CEO Troy Grant declaró que la compañía está trabajando arduamente para completar las tareas de auditoría restantes.
Durante la MCTO, el público en general puede continuar negociando las acciones comunes de Elcora, pero los ejecutivos y directores de la empresa no pueden. Elcora confirma su intención de cumplir con el NP 12-203 y emitirá informes de estado de incumplimiento cada dos semanas hasta que se cumpla el requisito de declaraciones anuales. La empresa, fundada en 2011, está estructurada como una compañía de materiales para baterías verticalmente integrada, enfocándose en el procesamiento, refinamiento y producción de minerales y metales relacionados con baterías.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF)는 2024년 7월 30일 노바스코샤 증권위원회가 부여한 관리 중지 거래 명령(MCTO)에 대한 업데이트를 제공했습니다. MCTO는 회사의 금융 제무제표 제출 및 2024년 3월 31일 종료된 회계 연도에 대한 경영진의 논의 지연으로 인해 발급되었습니다. CEO 트로이 그랜트는 회사가 남은 감사 작업을 완료하기 위해 열심히 노력하고 있다고 밝혔습니다.
MCTO 기간 동안 일반 대중은 Elcora의 보통주를 계속 거래할 수 있지만, 회사의 임원 및 이사는 거래할 수 없습니다. Elcora는 NP 12-203 준수를 위한 의도를 확인하고 연례 신고 요건이 충족될 때까지 매주 기본 상태 보고서를 발행할 것입니다. 2011년에 설립된 이 회사는 배터리 관련 광물 및 금속의 가공, 정제 및 생산에 중점을 둔 수직적으로 통합된 배터리 소재 회사로 구성되어 있습니다.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) a fourni une mise à jour concernant l'ordre d'interdiction de négociation de gestion (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 de la société et de la discussion de la direction pour l'exercice clos le 31 mars 2024. Le PDG Troy Grant a déclaré que l'entreprise travaille d'arrache-pied pour achever les tâches d'audit restantes.
Durant la période de MCTO, le grand public peut continuer à négocier les actions ordinaires d'Elcora, mais les dirigeants et administrateurs de la société ne le peuvent pas. Elcora confirme son intention de se conformer à la NP 12-203 et publiera des rapports bihebdomadaires sur l'état de défaut jusqu'à ce que l'exigence de dépôt annuel soit remplie. Fondée en 2011, l'entreprise est structurée comme une société de matériaux de batteries intégrée verticalement, se concentrant sur le traitement, le raffinage et la production de minéraux et de métaux liés aux batteries.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) hat ein Update zur am 30. Juli 2024 von der Nova Scotia Securities Commission erteilten Management-Cease-Trade-Order (MCTO) bereitgestellt. Die MCTO wurde aufgrund einer Verzögerung bei der Einreichung der Finanzberichte des Unternehmens und den Erläuterungen der Geschäftsführung für das am 31. März 2024 endende Geschäftsjahr erlassen. CEO Troy Grant erklärte, dass das Unternehmen hart daran arbeitet, die verbleibenden Prüfungsaufgaben abzuschließen.
Während der MCTO kann die breite Öffentlichkeit weiterhin die Stammaktien von Elcora handeln, jedoch dürfen die Unternehmensleiter und Direktoren dies nicht tun. Elcora bestätigt die Absicht, NP 12-203 zu entsprechen und wird alle zwei Wochen Berichte über den Standardstatus veröffentlichen, bis die Anforderungen für die jährlichen Einreichungen erfüllt sind. Das 2011 gegründete Unternehmen ist als vertikal integriertes Unternehmen für Batteriematerialien strukturiert und konzentriert sich auf die Verarbeitung, Raffinierung und Produktion von batterierelevanten Mineralien und Metallen.
- Elcora maintains its vertical integration strategy in the battery minerals and metals industry
- The company has developed a cost-effective process to purify high-quality battery metals and minerals
- Delay in filing Annual Filings beyond the prescribed period
- Management Cease Trade Order (MCTO) issued, restricting executives and directors from trading company shares
- Ongoing default status in Annual Filings requirement
HALIFAX, Nova Scotia, Aug. 13, 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").
“We are working very hard to complete all of the remaining audit tasks as soon as possible,” said Troy Grant, CEO of the Company.
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.
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