Nexera Provides Update#2 on Delayed Filing of Annual Financial Statements and MD&A and Management Cease Trade Order
Nexera Energy Inc. (TSX Venture:NGY, OTC PINK:EMBYF) has provided a bi-weekly default status report regarding the delayed filing of its annual financial statements and MD&A for the year ended March 31, 2024. The company is currently subject to a management cease trade order (MCTO) issued by the Alberta Securities Commission, restricting trading by the CEO and CFO until the Annual Filings are submitted.
Nexera's management expects to file the Annual Filings by September 13, 2024. The company confirms no material changes since the initial default announcement and no additional defaults are anticipated. Nexera will continue to issue bi-weekly default status reports to comply with alternative information guidelines set out in National Policy 12-203.
Nexera Energy Inc. (TSX Venture:NGY, OTC PINK:EMBYF) ha fornito un rapporto sullo stato di default bisettimanale riguardante il ritardo nella presentazione dei suoi bilanci annuali e del MD&A per l'anno conclusosi il 31 marzo 2024. Attualmente l'azienda è soggetta a un ordine di cessazione commercio da parte della direzione (MCTO) emesso dalla Commissione dei valori mobiliari dell'Alberta, che restringe le operazioni del CEO e del CFO fino a quando i documenti annuali non vengono presentati.
La direzione di Nexera prevede di presentare i documenti annuali entro il 13 settembre 2024. L'azienda conferma che non ci sono stati cambiamenti materiali dalla prima comunicazione di default e non sono previsti ulteriori default. Nexera continuerà a emettere rapporti sullo stato di default bisettimanali per conformarsi alle linee guida alternative per le informazioni stabilite nella Politica Nazionale 12-203.
Nexera Energy Inc. (TSX Venture:NGY, OTC PINK:EMBYF) ha proporcionado un informe de estado de incumplimiento quincenal respecto a la presentación retrasada de sus estados financieros anuales y MD&A para el año que finalizó el 31 de marzo de 2024. La empresa está actualmente sujeta a una orden de cese de comercio por parte de la dirección (MCTO) emitida por la Comisión de Valores de Alberta, que restringe el comercio por parte del CEO y CFO hasta que se presenten las Declaraciones Anuales.
La dirección de Nexera espera presentar las Declaraciones Anuales antes del 13 de septiembre de 2024. La empresa confirma que no ha habido cambios materiales desde el anuncio inicial de incumplimiento y no se anticipan incumplimientos adicionales. Nexera continuará emitiendo informes de estado de incumplimiento quincenales para cumplir con las pautas de información alternativa establecidas en la Política Nacional 12-203.
Nexera Energy Inc. (TSX Venture:NGY, OTC PINK:EMBYF)는 2024년 3월 31일 종료된 연간 재무제표 및 MD&A의 신고 지연에 대한 격주 디폴트 상태 보고서를 제공했습니다. 현재 이 회사는 앨버타 증권 위원회에서 발행한 경영 중단 명령(MCTO)의 적용을 받고 있으며, 올해 CEO와 CFO의 거래가 연례 신고가 제출될 때까지 제한됩니다.
Nexera 경영진은 2024년 9월 13일까지 연례 신고를 제출할 것으로 예상하고 있습니다. 회사는 초기 디폴트 발표 이후 물질적 변경 사항이 없음을 확인하며 추가 디폴트도 예상하지 않고 있습니다. Nexera는 국가 정책 12-203에서 설정한 대체 정보 지침을 준수하기 위해 격주 디폴트 상태 보고서를 계속 발행할 것입니다.
Nexera Energy Inc. (TSX Venture:NGY, OTC PINK:EMBYF) a fourni un rapport d'état de défaut bihebdomadaire concernant le retard de dépôt de ses états financiers annuels et du MD&A pour l'année se terminant le 31 mars 2024. L'entreprise est actuellement soumise à un ordre de cessation de commerce de la direction (MCTO) émis par la Commission des valeurs mobilières de l'Alberta, restreignant les transactions du PDG et du directeur financier jusqu'à ce que les Dépôts Annuels soient soumis.
La direction de Nexera prévoit de déposer les Dépôts Annuels avant le 13 septembre 2024. L'entreprise confirme qu'il n'y a eu aucun changement matériel depuis l'annonce initiale de défaut et aucun autre défaut n'est anticipé. Nexera continuera à publier des rapports d'état de défaut bihebdomadaires pour se conformer aux lignes directrices d'information alternative établies dans la Politique Nationale 12-203.
Nexera Energy Inc. (TSX Venture:NGY, OTC PINK:EMBYF) hat einen zweiwöchentlichen Bericht über den Status von Defaults im Hinblick auf die verspätete Einreichung ihrer Jahresabschlüsse und des MD&A für das zum 31. März 2024 endende Jahr bereitgestellt. Das Unternehmen unterliegt derzeit einer Management-Handelsstoppanordnung (MCTO), die von der Alberta Securities Commission erlassen wurde und den Handel durch den CEO und CFO bis zur Einreichung der Jahresunterlagen einschränkt.
Das Management von Nexera erwartet, die Jahresunterlagen bis zum 13. September 2024 einzureichen. Das Unternehmen bestätigt, dass es seit der ursprünglichen Bekanntgabe des Defaults keine wesentlichen Änderungen gegeben hat und keine weiteren Defaults erwartet werden. Nexera wird weiterhin zweiwöchentliche Berichte über den Status von Defaults herausgeben, um die alternativen Informationsrichtlinien gemäß der Nationalen Richtlinie 12-203 einzuhalten.
- Management is working expeditiously to meet filing obligations
- Company expects to file Annual Filings by September 13, 2024
- No additional defaults or material changes reported since initial announcement
- Delayed filing of annual financial statements and MD&A
- Management subject to cease trade order
- Restricted trading for CEO and CFO until Annual Filings are submitted
CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / August 29, 2024 / Nexera Energy Inc. (TSX Venture:NGY)(OTC PINK:EMBYF) (the "Corporation", the "Company" or "Nexera") is providing a bi-weekly default status report (the "Default Status Report") in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
On July 16, 2024, the Company announced (the "Default Announcement") that, for the reasons disclosed in the Default Announcement, the filing of its annual financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year-ended March 31, 2024 (the "Annual Filings") would not be completed by the prescribed filing deadline.
Management of the Company is currently the subject of a management cease trade order ("MCTO") in regards to these Annual Filings, as granted by its principal regulator, the Alberta Securities Commission. The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and the Chief Financial Officer of the Company until such time as the Annual Filings have been filed by the Company. The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their securities.
The Company's board of directors and its management confirms that they are working expeditiously to meet the Company's filing obligations and expect to file the Annual Filings on or before September 13, 2024.
As required by the alternative information guidelines specified by NP 12-203, the Company reports that since the Default Announcement and any subsequent press release disclosure there have not been any changes to the information set out in the Default Announcement that would reasonably be expected to be material to an investor nor any failure by the Company to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the Annual Filings. Further, there is no additional material information concerning the affairs of the Company that has not been generally disclosed and there are no insolvency proceedings against the Company as of the date of this Default Status Report.
Until the Annual Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. To the extent applicable, the Company is scheduled to file its next default status report in two weeks from the date hereof.
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) under a management cease trade order?
When does Nexera Energy (EMBYF) expect to file its delayed Annual Filings?
How does the management cease trade order affect Nexera Energy (EMBYF) shareholders?
What actions is Nexera Energy (EMBYF) taking to address the delayed filing situation?
