Empatho Announces Cease Trade Order
- None.
- The delay in filing the annual financial statements has resulted in a cease trade order, halting trading of Empatho Holdings Inc. securities, affecting shareholder value and investor confidence.
Toronto, Ontario--(Newsfile Corp. - March 15, 2024) - Empatho Holdings Inc. (CSE: EMPH) (formerly, Shane Resources Ltd.) ("Empatho" or the "Company") announces that, given that the Company was not in a position to file its audited annual financial statements, management discussion and analysis and certificates of the Chief Executive Officer and Chief Financial Officer (collectively, the "Annual Filings") for the year ended October 31, 2023, by the prescribed deadline of February 28, 2024 without unreasonable effort or expense, the British Columbia Commission (the "BCSC") has issued a failure to file cease trade order against the Company ("CTO") which orders that general trading, whether direct or indirect, of the securities of the Company cease. A copy of the CTO has been posted to the BCSC website.
Despite the CTO, a beneficial holder of a security of the Company who is not, and was not as of the date of the CTO, an insider or control person of the Company may sell securities of the Company acquired before the date of the CTO if: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the Company's securities are urged to consult with their own investment advisors or legal counsel about the implications of the CTO.
The Company continues to operate normally without disruption during the CTO and is working diligently and expeditiously with its auditors to complete the Annual Filings as soon as possible.
About Empatho
Empatho Holdings Inc. is a virtual well-being firm focused on a smart solution powered by proprietary PsychAI™ artificial intelligence (AI), that strategically guides users to achieve individualized or personalized well-being goals. The Company provides a data-driven mobile application using advanced technology to engage individuals in the management of their own health, helping individuals become more productive and uncovering potential efficiencies and cost savings for employers.
On behalf of the Board of Directors:
Yan Namer
Chief Executive Officer
E-mail: yan@empatho.com
Cautionary Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking statements in this news release include statements with respect to the filing of the Annual Filings and completion thereof.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern and the continued approval of the Company's activities by the relevant governmental and/or regulatory authorities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, income tax and regulatory matters, the ability of the Company to execute its business strategies, the inability of the Company's proprietary applications to carry out the enumerated functions and risks associated with the Company's common shares trading on the CSE.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201923
FAQ
Why did Empatho Holdings Inc. receive a cease trade order?
What is the impact of the cease trade order on trading of EMPHF securities?
Can shareholders still sell securities of EMPHF despite the cease trade order?
How should holders of EMPHF securities proceed following the cease trade order?
What action did the British Columbia Commission take against Empatho Holdings Inc.?
What is the significance of the CSE ticker symbol EMPH for Empatho Holdings Inc.?
