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 reports that the audit is progressing well, and they continue efforts to complete the remaining tasks.
During the MCTO, the general public can still trade Elcora's listed common shares, but the company's executives and directors cannot. Elcora confirms its intention to comply with NP 12-203 and will continue issuing bi-weekly default status reports until the Annual Filings requirement is met.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha fornito un aggiornamento sull'
Durante l'MCTO, il pubblico generale può comunque negoziare le azioni ordinarie quotate di Elcora, ma i dirigenti e i direttori della società non possono. Elcora conferma la sua intenzione di conformarsi alla NP 12-203 e continuerà a emettere rapporti sullo stato di inadempienza ogni due settimane fino a quando non saranno soddisfatti i requisiti per le dichiarazioni annuali.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) ha proporcionado una actualización sobre el orden de cese de comercio por parte de la dirección (MCTO) otorgado el 30 de julio de 2024 por la Comisión de Valores de Nueva Escocia. El MCTO fue emitido debido a un retraso en la presentación de los estados financieros de la empresa y el análisis de discusión de la dirección para el año fiscal que terminó el 31 de marzo de 2024. Elcora informa que la auditoría está avanzando bien y continúan los esfuerzos para completar las tareas restantes.
Durante el MCTO, el público en general aún puede negociar las acciones ordinarias listadas de Elcora, pero los ejecutivos y directores de la empresa no pueden. Elcora confirma su intención de cumplir con la NP 12-203 y continuará emitiendo informes quincenales sobre el estado del incumplimiento hasta que se cumplan los requisitos de presentación anual.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF)는 2024년 7월 30일 노바스코샤 증권위원회에 의해 부여된 경영 중지 거래 명령(MCTO)에 대한 업데이트를 제공했습니다. MCTO는 회사의 2024년 3월 31일로 종료된 회계 연도의 재무 제표 및 경영진 토의 분석 제출 지연으로 인해 발급되었습니다. Elcora는 감사가 순조롭게 진행되고 있으며 남은 작업을 완료하기 위해 계속 노력하고 있다고 보고합니다.
MCTO 기간 동안 일반 대중은 여전히 Elcora의 상장 보통주를 거래할 수 있지만 회사의 경영진과 이사는 거래할 수 없습니다. Elcora는 NP 12-203을 준수할 의사를 확인했으며 연례 제출 요구 사항이 충족될 때까지 격주로 기본 상태 보고서를 계속 발행할 것입니다.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) a fourni une mise à jour sur 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 de la société et de l'analyse de la direction pour l'exercice clos le 31 mars 2024. Elcora rapporte que l'audit progresse bien et qu'ils continuent à travailler pour terminer les tâches restantes.
Durant le MCTO, le grand public peut toujours négocier les actions ordinaires cotées d'Elcora, mais les dirigeants et les administrateurs de l'entreprise ne le peuvent pas. Elcora confirme son intention de se conformer à la NP 12-203 et continuera à émettre des rapports bihebdomadaires sur l'état des manquements jusqu'à ce que les exigences des dépôts annuels soient satisfaites.
Elcora Advanced Materials Corp. (TSX.V:ERA | OTCQB:ECORF) hat ein Update zur Management-Handelsstopbanordnung (MCTO) bereitgestellt, die am 30. Juli 2024 von der Nova Scotia Securities Commission erteilt wurde. Die MCTO wurde wegen einer Verzögerung bei der Einreichung der Finanzberichte und der Diskussion und Analyse des Managements für das am 31. März 2024 endende Geschäftsjahr erlassen. Elcora berichtet, dass die Prüfung gut vorankommt und dass sie weiterhin daran arbeiten, die verbleibenden Aufgaben zu erledigen.
Während der MCTO kann die allgemeine Öffentlichkeit weiterhin die notierten Stammaktien von Elcora handeln, jedoch dürfen die Führungskräfte und Direktoren des Unternehmens dies nicht. Elcora bestätigt seine Absicht, die NP 12-203 einzuhalten, und wird weiterhin alle zwei Wochen Berichte über den Status von Verstößen herausgeben, bis die Anforderungen an die Jahresberichterstattung erfüllt sind.
- Audit for delayed financial statements is progressing well
- General public can still trade company's shares during MCTO
- Delay in filing annual financial statements and management's discussion and analysis
- Management cease trade order (MCTO) issued, restricting executives and directors from trading shares
HALIFAX, Nova Scotia, Aug. 27, 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 its efforts to complete the remaining audit tasks and reports that the audit is progressing well.
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 investors still trade Elcora (ECORF) shares during the MCTO period?
When does Elcora (ECORF) expect to complete its delayed annual filings?
How often will Elcora (ECORF) provide updates on the status of its annual filings?
