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 and is now required to complete its Annual Filings and Interim Filings by October 28, 2024. The delay affects financial statements for the fiscal year ended March 31, 2024, and the interim period ended June 30, 2024.
During the MCTO, the general public can continue trading Elcora's listed common shares, but the company's executives and directors cannot. Elcora confirms its intention to satisfy the provisions of 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 sulla situazione di un ordine di cessazione del commercio da parte della direzione (MCTO) concesso il 30 luglio 2024 dalla Nova Scotia Securities Commission. L'azienda ha ricevuto un ulteriore proroga del suo MCTO e ora è tenuta a completare le sue denunce annuali e le denunce intermedie entro il 28 ottobre 2024. Il ritardo influisce sui bilanci finanziari per l'anno fiscale conclusosi il 31 marzo 2024 e sul periodo intermedio terminato il 30 giugno 2024.
Durante l'MCTO, il pubblico generale può continuare a negoziare le azioni ordinarie quotate di Elcora, ma i dirigenti e i membri del consiglio dell'azienda non possono. Elcora conferma la sua intenzione di soddisfare le disposizioni di NP 12-203 e continuerà a emettere rapporti sullo stato di default ogni due settimane fino al completamento delle denunce.
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 gerencia (MCTO) otorgada el 30 de julio de 2024 por la Comisión de Valores de Nueva Escocia. La empresa ha recibido una nueva extensión de su MCTO y ahora debe completar sus declaraciones anuales y las declaraciones intermedias para el 28 de octubre de 2024. El retraso afecta los estados financieros para el año fiscal que finalizó el 31 de marzo de 2024 y el período intermedio que concluyó el 30 de junio de 2024.
Durante el MCTO, el público en general puede continuar negociando las acciones ordinarias listadas de Elcora, pero los ejecutivos y directores de la empresa no pueden hacerlo. Elcora confirma su intención de cumplir con las disposiciones de NP 12-203 y continuará emitiendo informes quincenales sobre el estado de incumplimiento hasta que se completen las declaraciones.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF)는 2024년 7월 30일 노바 스코샤 증권 위원회(Nova Scotia Securities Commission)에 의해 발급된 경영 중지 거래 명령(MCTO)의 상태에 대한 업데이트를 제공했습니다. 회사는 MCTO에 대한 추가 연장을 받았으며, 이제 2024년 10월 28일까지 연간 보고서 및 중간 보고서를 완료해야 합니다. 이 지연은 2024년 3월 31일 종료된 회계 연도 및 2024년 6월 30일 종료된 중간 기간의 재무 제표에 영향을 미칩니다.
MCTO 동안 일반 대중은 Elcora의 상장 보통주를 계속 거래할 수 있지만, 회사의 경영진과 이사는 거래할 수 없습니다. Elcora는 NP 12-203의 조항을 준수할 의도를 확인하며, 제출이 완료될 때까지 매주 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 Nouvelle-Écosse. L'entreprise a reçu une nouvelle extension de son MCTO et doit désormais compléter ses dépôts annuels et dépôts intermédiaires d'ici le 28 octobre 2024. Ce retard affecte les états financiers pour l'exercice fiscal clos le 31 mars 2024 et la période intermédiaire close le 30 juin 2024.
Pendant la MCTO, le grand public peut continuer à négocier les actions ordinaires d'Elcora, mais les dirigeants et administrateurs de l'entreprise ne peuvent pas le faire. Elcora confirme son intention de satisfaire aux dispositions de NP 12-203 et continuera à émettre des rapports bihebdomadaires sur l'état de défaut jusqu'à ce que les dépôts soient complétés.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) hat ein Update zum Status einer Handelsstoppanordnung der Geschäftsführung (MCTO) gegeben, die am 30. Juli 2024 von der Nova Scotia Securities Commission erteilt wurde. Das Unternehmen hat eine weitere Verlängerung seiner MCTO erhalten und ist nun verpflichtet, seine Jahresabschlüsse und Zwischenabschlüsse bis zum 28. Oktober 2024 vorzulegen. Die Verzögerung betrifft die Finanzberichte für das am 31. März 2024 endende Geschäftsjahr und den Zwischenzeitraum bis zum 30. Juni 2024.
Während der MCTO kann die Öffentlichkeit weiterhin die an der Börse gelisteten Stammaktien von Elcora handeln, jedoch können die Führungskräfte und Direktoren des Unternehmens dies nicht tun. Elcora bestätigt seine Absicht, die Bestimmungen von NP 12-203 zu erfüllen, und wird weiterhin alle zwei Wochen Berichte über den Status des Verzugs ausgeben, bis die Einreichungen abgeschlossen sind.
- Extension granted for filing financial statements, allowing more time for compliance
- 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 impact on investor confidence due to financial reporting delays
HALIFAX, Nova Scotia, Oct. 22, 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 October 16, 2024, 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 expects to have its Annual Filings and Interim Filings completed by October 28, 2024.
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 deadline for Elcora Advanced Materials Corp (ECORF) to file its Annual and Interim Financial statements?
Can the public trade Elcora Advanced Materials Corp (ECORF) shares during the Management Cease Trade Order?
When was the Management Cease Trade Order for Elcora Advanced Materials Corp (ECORF) initially granted?
What financial periods are affected by Elcora Advanced Materials Corp's (ECORF) filing delay?
