4Front Provides Update on MCTO Application
4Front Ventures (CSE: FFNT) (OTCQB: FFNTF) has provided an update regarding its application for a management cease trade order (MCTO). The company submitted the MCTO application to the Ontario Securities Commission (OSC) on April 16th due to delays in filing its 2024 annual financial statements.
On April 21st, the OSC informed 4Front that it does not meet the eligibility criteria under National Policy 12-203 for an MCTO based on their review of trading activity. Instead of proceeding with the MCTO review, the OSC will issue a failure-to-file cease trade order (FFCTO) after the April 30, 2025 filing deadline. The company can apply for order revocation by filing the outstanding documents within 90 days of the FFCTO date, without requiring a separate application or fee.
4Front Ventures (CSE: FFNT) (OTCQB: FFNTF) ha fornito un aggiornamento riguardo alla sua richiesta di un ordine di sospensione delle negoziazioni per la direzione (MCTO). La società ha presentato la domanda di MCTO alla Ontario Securities Commission (OSC) il 16 aprile a causa di ritardi nella presentazione del bilancio annuale 2024.
Il 21 aprile, l'OSC ha comunicato a 4Front che non soddisfa i criteri di ammissibilità previsti dalla National Policy 12-203 per un MCTO, in base alla revisione dell'attività di trading. Invece di procedere con la revisione del MCTO, l'OSC emetterà un ordine di sospensione delle negoziazioni per mancata presentazione (FFCTO) dopo la scadenza del 30 aprile 2025. La società potrà richiedere la revoca dell'ordine presentando i documenti mancanti entro 90 giorni dalla data del FFCTO, senza necessità di una domanda o di una tassa aggiuntiva.
4Front Ventures (CSE: FFNT) (OTCQB: FFNTF) ha proporcionado una actualización sobre su solicitud de una orden de suspensión de comercio para la dirección (MCTO). La compañía presentó la solicitud de MCTO a la Comisión de Valores de Ontario (OSC) el 16 de abril debido a retrasos en la presentación de sus estados financieros anuales 2024.
El 21 de abril, la OSC informó a 4Front que no cumple con los criterios de elegibilidad según la Política Nacional 12-203 para un MCTO, basado en su revisión de la actividad comercial. En lugar de continuar con la revisión del MCTO, la OSC emitirá una orden de suspensión de comercio por incumplimiento de presentación (FFCTO) después de la fecha límite del 30 de abril de 2025. La compañía podrá solicitar la revocación de la orden presentando los documentos pendientes dentro de los 90 días posteriores a la fecha del FFCTO, sin necesidad de una solicitud o tarifa adicional.
4Front Ventures (CSE: FFNT) (OTCQB: FFNTF)는 경영진 거래중지명령(MCTO) 신청에 관한 최신 정보를 제공했습니다. 회사는 2024년 연례 재무제표 제출 지연으로 인해 4월 16일 온타리오 증권위원회(OSC)에 MCTO 신청서를 제출했습니다.
4월 21일, OSC는 거래 활동 검토 결과에 따라 4Front가 국가정책 12-203의 MCTO 자격 기준을 충족하지 못한다고 통보했습니다. MCTO 심사 대신 OSC는 2025년 4월 30일 제출 마감일 이후에 미제출 거래중지명령(FFCTO)을 발부할 예정입니다. 회사는 FFCTO 발령일로부터 90일 이내에 미제출 서류를 제출하여 별도의 신청서나 수수료 없이 명령 해제를 신청할 수 있습니다.
4Front Ventures (CSE : FFNT) (OTCQB : FFNTF) a fourni une mise à jour concernant sa demande d’ordre de suspension des échanges pour la direction (MCTO). La société a soumis la demande de MCTO à la Commission des valeurs mobilières de l’Ontario (OSC) le 16 avril en raison de retards dans le dépôt de ses états financiers annuels 2024.
Le 21 avril, l’OSC a informé 4Front qu’elle ne répond pas aux critères d’éligibilité de la politique nationale 12-203 pour un MCTO, suite à l’examen de l’activité de trading. Plutôt que de poursuivre l’examen du MCTO, l’OSC émettra un ordre de suspension des échanges pour non-dépôt (FFCTO) après la date limite du 30 avril 2025. La société pourra demander la révocation de cet ordre en déposant les documents manquants dans les 90 jours suivant la date du FFCTO, sans nécessiter de demande ou de frais supplémentaires.
4Front Ventures (CSE: FFNT) (OTCQB: FFNTF) hat ein Update zu seinem Antrag auf eine Management-Handelsaussetzungsverfügung (MCTO) gegeben. Das Unternehmen reichte den MCTO-Antrag am 16. April bei der Ontario Securities Commission (OSC) aufgrund von Verzögerungen bei der Einreichung der Jahresfinanzberichte 2024 ein.
Am 21. April teilte die OSC 4Front mit, dass das Unternehmen die Zulassungskriterien gemäß der National Policy 12-203 für eine MCTO basierend auf der Überprüfung der Handelsaktivitäten nicht erfüllt. Anstatt mit der MCTO-Prüfung fortzufahren, wird die OSC nach Ablauf der Frist am 30. April 2025 eine Handelsaussetzungsverfügung wegen Nicht-Einreichung (FFCTO) erlassen. Das Unternehmen kann die Aufhebung der Verfügung beantragen, indem es die ausstehenden Dokumente innerhalb von 90 Tagen nach dem FFCTO-Datum einreicht, ohne einen separaten Antrag oder eine Gebühr zu benötigen.
- Company can apply for FFCTO revocation by filing documents within 90 days without additional fees
- Company failed to file 2024 annual financial statements on time
- MCTO application rejected by OSC due to eligibility issues
- Trading will be suspended through FFCTO after April 30, 2025
On April 16th the Company submitted an application to the Ontario Securities Commission ("OSC") for an MCTO under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"), in connection with the delay in filing its audited annual financial statements for the year ended December 31, 2024, the related management's discussion and analysis, and the required certifications (collectively, the "Annual Filings").
On April 21st, the Company was advised by OSC staff that, based on their review of trading activity in the Company's securities, the Company does not meet the eligibility criteria under NP 12-203 for an MCTO. As a result, the OSC has indicated that it will not proceed with reviewing the MCTO application and will instead issue a failure-to-file cease trade order ("FFCTO") following the April 30, 2025, filing deadline. In accordance with current OSC guidance, the filing of the outstanding documents within 90 days of the FFCTO date will constitute an application to revoke the order, with no separate application or fee required.
About 4Front Ventures Corp.
Front is a national, vertically integrated multi-state cannabis operator with operations in
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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SOURCE 4Front Ventures Corp.
FAQ
What is the impact of FFCTO on FFNTF stock trading?
When can FFNTF resume trading after the FFCTO?
What financial documents is FFNTF delayed in filing?
Why was FFNTF's MCTO application rejected?
