CORRECTION BY SOURCE: Nexera Announces Delayed Filing of Annual Financial Statements and MD&A and Application for Management Cease Trade Order
Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF) has announced a delay in filing its annual financial statements, MD&A, and related certifications for the year ended March 31, 2024. The delay is due to the auditors' late receipt of certain information, caused by resolved internal staffing and software issues. Nexera expects to file the Annual Filings by September 13, 2024, missing the original July 29, 2024 deadline.
The company has applied to the Alberta Securities Commission for a management cease trade order (MCTO) in light of the anticipated default. If granted, the MCTO will not affect trading by persons who are not directors, officers, or insiders of the company. Nexera plans to follow the Alternative Information Guidelines, including issuing bi-weekly default status reports.
Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF) ha annunciato un ritardo nella presentazione dei suoi bilanci annuali, della relazione di gestione (MD&A) e delle certificazioni correlate per l'anno chiuso il 31 marzo 2024. Il ritardo è dovuto al ricevimento tardivo da parte degli auditor di alcune informazioni, causato da problemi interni di personale e software risolti. Nexera prevede di presentare i documenti annuali entro il 13 settembre 2024, superando la scadenza originale del 29 luglio 2024.
La società ha fatto richiesta alla Commissione dei titoli alberti per un ordine di cessazione commerciale da parte della direzione (MCTO) a causa del previsto default. Se approvato, il MCTO non influenzerà le operazioni di trading da parte di persone che non sono direttori, funzionari o insider della società. Nexera prevede di seguire le Linee Guida sulle Informazioni Alternative, inclusa l'emissione di rapporti di stato della morosità ogni due settimane.
Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF) ha anunciado un retraso en la presentación de sus estados financieros anuales, MD&A y certificaciones relacionadas para el año finalizado el 31 de marzo de 2024. El retraso se debe a la recepción tardía por parte de los auditores de cierta información, ocasionada por problemas internos de personal y software que se han resuelto. Nexera espera presentar las Declaraciones Anuales para el 13 de septiembre de 2024, incumpliendo la fecha límite original del 29 de julio de 2024.
La compañía ha solicitado a la Comisión de Valores de Alberta un orden de cese de comercio por parte de la dirección (MCTO) debido al incumplimiento anticipado. Si se concede, el MCTO no afectará el comercio por parte de personas que no sean directores, funcionarios o personas relacionadas de la compañía. Nexera planea seguir las Directrices de Información Alternativa, que incluyen la emisión de informes quincenales sobre el estado de incumplimiento.
Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF)가 2024년 3월 31일로 종료된 회계연도에 대한 연간 재무제표, 경영 분석(MD&A), 관련 인증서의 제출이 지연되었다고 발표했습니다. 이 지연은 감사인이 특정 정보를 늦게 수령한 것으로, 해결된 내부 인사 및 소프트웨어 문제로 인해 발생했습니다. Nexera는 2024년 9월 13일까지 연간 보고서를 제출할 것으로 예상하고 있습니다, 원래의 마감일인 2024년 7월 29일을 놓치게 됩니다.
회사는 예상되는 채무 불이행에 따라 경영진 거래 중단 명령(MCTO)를 앨버타 증권위원회에 신청했습니다. 만약 승인된다면, MCTO는 회사의 이사, 임원 또는 내부자가 아닌 다른 사람의 거래에는 영향을 미치지 않습니다. Nexera는 대체 정보 지침을 따를 예정이며, 이에는 2주마다 채무 불이행 상태 보고서를 발행하는 것이 포함됩니다.
Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF) a annoncé un retard dans la soumission de ses états financiers annuels, du MD&A et des certifications connexes pour l'année se terminant le 31 mars 2024. Ce retard est dû à la réception tardive par les auditeurs de certaines informations, causée par des problèmes internes de personnel et de logiciels qui ont été résolus. Nexera s'attend à soumettre les dépôts annuels d'ici le 13 septembre 2024, manquant ainsi la date limite initiale du 29 juillet 2024.
L'entreprise a demandé à la Commission des valeurs mobilières de l'Alberta une ordonnance de cessation de commerce de la direction (MCTO) en raison du défaut anticipé. Si elle est accordée, la MCTO n'affectera pas le trading par des personnes qui ne sont pas des directeurs, des responsables ou des initiés de l'entreprise. Nexera prévoit de suivre les Lignes directrices sur l'information alternative, y compris l'émission de rapports bihebdomadaires sur l'état de défaut.
Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF) hat eine Verzögerung bei der Einreichung ihrer jährlichen Finanzberichte, MD&A und verwandten Zertifizierungen für das am 31. März 2024 endende Jahr angekündigt. Die Verzögerung ist auf den verspäteten Erhalt bestimmter Informationen durch die Prüfer zurückzuführen, was durch gelöste interne Personal- und Softwareprobleme verursacht wurde. Nexera erwartet, die jährlichen Unterlagen bis zum 13. September 2024 einzureichen, wodurch die ursprüngliche Frist vom 29. Juli 2024 verpasst wird.
Das Unternehmen hat bei der Alberta Securities Commission einen Management-Cease-Trade-Order (MCTO) beantragt, da ein Ausfall erwartet wird. Wenn genehmigt, wird der MCTO den Handel von Personen, die keine Direktoren, Führungskräfte oder Insider des Unternehmens sind, nicht beeinflussen. Nexera plant, die Alternativen Informationsrichtlinien zu befolgen, einschließlich der Ausgabe von zweiwöchentlichen Berichten über den Stand des Ausfalls.
- The company has resolved internal staffing and software issues that caused the delay
- Nexera has a clear timeline for filing the Annual Filings by September 13, 2024
- The company is proactively applying for a management cease trade order to manage the situation
- Nexera is unable to file its Annual Filings by the required deadline of July 29, 2024
- The delay in financial reporting may raise concerns among investors about the company's financial health
- If granted, the MCTO will restrict trading for company insiders until the default is remedied
In the third paragraph, the deadline of August 28, 2024 was extended to September 13, 2024.
In the Management Cease Trade Order Application paragraph, "OSC" was corrected to "ASC"
CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / July 23, 2024 / This press release updates the previous press release issued on July 16, 2024. Nexera Energy Inc. (TSX Venture:NGY)(OTC Pink:EMBYF) (the "Corporation", the "Company" or "Nexera") would like to provide an update on the status of the filing of its annual financial statements, accompanying management's discussion and analysis and related CEO and CFO certifications for the year ended March 31, 2024 (collectively, the "Annual Filings").
The current auditors of the Corporation have recently informed the Corporation that due to the auditors delayed receipt of certain information (such delay a result of (i) certain internal staffing issues at the Corporation that are now resolved; and (ii) internal software issues connected with the Corporation's change of year end (from December 31 to March 31) that are now resolved), they will not be able to complete the audit of the Corporation by the prescribed filing deadline, and the Company anticipates the Annual Filings will be delayed beyond the required filing deadline: (i) under Parts 4 and 5 of National Instrument 51-102 - Continuous Disclosure Obligations and pursuant to National Instrument 52-109 - Certification of Disclosure in Issuer's Annual and Interim Filings, being July 29, 2024 (the "Filing Deadline").
The Company intends to continue to work diligently and expeditiously with its auditors and expects to file the Annual Filings as soon as possible, and in any event no later than September 13, 2024.
Other than as previously disclosed by the Company and herein with this press release, the Company confirms that there have been no material business developments since the date of its last financial statements that were filed.
Management Cease Trade Order Application
In light of the delay in filing of the Annual Filings prior to the Filing Deadline, the Company is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company has made an application to the Alberta Securities Commission (the "ASC"), as principal regulator of the Company, for a management cease trade order ("MCTO") under NP 12-203 in respect of the anticipated default regarding the Annual Filings. The granting of the MCTO is at the discretion of the Alberta Securities Commission and there is no guarantee that this will be granted. The issuance of the MCTO will not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities. In the event that the MCTO is granted, it will be in effect until the default is remedied. The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default.
For further information, please contact:
Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@nexeraenergy.com
www.nexeraenergy.com
About Nexera Energy Inc.
Nexera Energy Inc. (TSX Venture:NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Stockdale Horizon Projects. The Company also now owns
Forward Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nexera Energy Inc.
View the original press release on accesswire.com
FAQ
Why is Nexera Energy (EMBYF) delaying its Annual Filings for the year ended March 31, 2024?
When does Nexera Energy (EMBYF) expect to file its delayed Annual Filings?
What action has Nexera Energy (EMBYF) taken regarding the delay in filing its Annual Filings?
How will the potential management cease trade order affect Nexera Energy (EMBYF) shareholders?
