Li-Metal Corp. Provides Bi-Weekly Status on Management Cease Trade Order
Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) has provided a status update on its Management Cease Trade Order (MCTO) granted by the Ontario Securities Commission on July 30, 2024. The MCTO was requested due to an expected delay in filing the company's annual financial statements and related documents for the fiscal year ended March 31, 2024. Li-Metal anticipates filing these documents no later than August 9, 2024.
The MCTO restricts trading activities for certain company insiders but does not affect other shareholders. Li-Metal confirms there have been no material changes since the initial announcement and is complying with alternative information guidelines. The company will continue to issue bi-weekly status reports until the required documents are filed and the MCTO is lifted.
Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) ha fornito un aggiornamento sullo stato del suo Management Cease Trade Order (MCTO) concesso dalla Ontario Securities Commission il 30 luglio 2024. L'MCTO è stato richiesto a causa di un previsto ritardo nella presentazione del bilancio annuale dell'azienda e dei documenti correlati per l'anno fiscale chiuso il 31 marzo 2024. Li-Metal prevede di presentare questi documenti non oltre il 9 agosto 2024.
L'MCTO limita le attività di trading per alcuni insider dell'azienda ma non influisce sugli altri azionisti. Li-Metal conferma che non ci sono stati cambiamenti significativi dalla comunicazione iniziale ed è in conformità con le linee guida alternative per l'informazione. L'azienda continuerà a emettere rapporti di stato ogni due settimane fino a quando i documenti richiesti non saranno presentati e l'MCTO non verrà revocato.
Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) ha proporcionado una actualización sobre el estado de su Orden de Cese de Comercio Administrativa (MCTO) concedida por la Comisión de Valores de Ontario el 30 de julio de 2024. La MCTO fue solicitada debido a un retraso esperado en la presentación de los estados financieros anuales de la compañía y documentos relacionados para el año fiscal que terminó el 31 de marzo de 2024. Li-Metal anticipa presentar estos documentos no más tarde del 9 de agosto de 2024.
La MCTO restringe las actividades de negociación para ciertos insiders de la empresa, pero no afecta a otros accionistas. Li-Metal confirma que no ha habido cambios materiales desde el anuncio inicial y está cumpliendo con las pautas de información alternativa. La empresa continuará emitiendo informes de estado cada dos semanas hasta que se presenten los documentos requeridos y se levante la MCTO.
Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF)는 2024년 7월 30일 온타리오 증권 위원회에서 부여한 관리 거래 중단 명령(MCTO)에 대한 상태 업데이트를 제공했습니다. MCTO는 2024년 3월 31일로 종료된 회계 연도의 연간 재무 제표와 관련 문서 제출의 지연이 예상되어 요청되었습니다. Li-Metal은 이 문서를 2024년 8월 9일 이후로 제출할 것으로 예상하고 있습니다.
MCTO는 특정 회사 내부자의 거래 활동을 제한하지만, 다른 주주에게는 영향을 미치지 않습니다. Li-Metal은 초기 발표 이후로 중대한 변경 사항이 없다고 확인하며, 대체 정보 지침을 준수하고 있습니다. 회사는 요구 문서가 제출되고 MCTO가 해제될 때까지 격주 상태 보고서를 계속 발행할 것입니다.
Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) a fourni une mise à jour sur le statut de son Ordre d'Interdiction de Négocier (MCTO) accordé par la Commission des valeurs mobilières de l'Ontario le 30 juillet 2024. Le MCTO a été demandé en raison d'un retard attendu dans le dépôt des états financiers annuels de l'entreprise et des documents connexes pour l'exercice clos le 31 mars 2024. Li-Metal prévoit de déposer ces documents au plus tard le 9 août 2024.
Le MCTO restreint les activités de négoce pour certains initiés de l'entreprise, mais n'affecte pas les autres actionnaires. Li-Metal confirme qu'il n'y a eu aucun changement matériel depuis l'annonce initiale et qu'il se conforme aux directives d'information alternatives. L'entreprise continuera à publier des rapports de statut toutes les deux semaines jusqu'à ce que les documents requis soient déposés et que le MCTO soit levé.
Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) hat ein Statusupdate zu seiner Management Cease Trade Order (MCTO) gegeben, die am 30. Juli 2024 von der Ontario Securities Commission erteilt wurde. Die MCTO wurde aufgrund einer erwarteten Verzögerung bei der Einreichung der jährlichen Finanzberichte des Unternehmens und verwandter Dokumente für das zum 31. März 2024 endende Geschäftsjahr beantragt. Li-Metal plant, diese Dokumente spätestens am 9. August 2024 einzureichen.
Die MCTO schränkt die Handelsaktivitäten bestimmter Unternehmensinsider ein, berührt jedoch nicht andere Aktionäre. Li-Metal bestätigt, dass sich seit der ursprünglichen Ankündigung keine wesentlichen Änderungen ergeben haben und dass das Unternehmen den alternativen Informationsrichtlinien nachkommt. Das Unternehmen wird bis zur Einreichung der erforderlichen Dokumente und zur Aufhebung der MCTO weiterhin alle zwei Wochen Statusberichte veröffentlichen.
- Company is actively working to complete and file the required annual financial documents
- MCTO does not affect the ability of most shareholders to trade company securities
- Delay in filing annual financial statements and related documents
- Trading restrictions imposed on company executives and certain insiders
- Company unable to issue or acquire securities from insiders or employees until MCTO is lifted
Toronto, Ontario--(Newsfile Corp. - August 1, 2024) - Li-Metal Corp. (CSE: LIM) (OTCQB: LIMFF) (FSE: 5ZO) ("Li-Metal" or the "Company"), is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
As previously announced on July 17, 2024 (the "Default Announcement"), the Company applied for a management cease trade order ("MCTO") from the Ontario Securities Commission ("OSC") due to an expected delay in filing the Company's annual financial statements (the "Financial Statements"), management's discussion and analysis relating to the Financial Statements and related officer certifications for the financial year ended March 31, 2024 (collectively, the "Annual Filing Documents"). The MCTO was granted by the OSC on July 30, 2024 and the Company continues to work closely with its auditor and expects to file the Annual Filing Documents as soon as possible, and in any event no later than August 9, 2024.
The MCTO prohibits the Company's Chief Executive Officer, Chief Financial Officer, and such other directors, officers and persons as determined by the applicable regulatory authorities, from trading, directly or indirectly, in the securities of the Company. The Company will also not be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filing Documents and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. The MCTO does not affect the ability of any other securityholders of the Company to trade securities of the Company.
The Company confirms that: (a) there are no changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor; (b) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Annual Filing Documents is continuing, each of which will be issued in the form of a press release; (c) there has not been any other specified default by the Company under NP 12-203; (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company is working to complete the Annual Filing Documents and will continue to issue bi-weekly default status reports as required.
About Li-Metal Corp.
Li-Metal is a Canadian-based vertically integrated battery materials company and innovator commercializing technologies to enable next-generation batteries for electric vehicles and other applications. We believe our patented lithium metal technology, next-generation battery anode technology and production methods are significantly more sustainable than existing solutions and offer lighter, more energy-dense and safer batteries. Li-Metal's battery materials support battery developers' ability to power more cost-effective electric vehicles that go farther and unlock the future of transportation. For more information, visit: https://li-metal.com.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking information in this news release includes statements related to the Company's ability to complete the audit and file the Annual Filing Documents, the timing for completion and filing of the Annual Filing Documents, if at all, the Company's ability to comply with the provisions set out in NP 12-203, and the Company's ability to continue to issue bi-weekly default status reports. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
For further information, please contact:
Keshav Kochhar, Interim CEO
Telephone: +1 647 494 4887
Email: ir@li-metal.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218548
FAQ
When does Li-Metal Corp. (LIMFF) expect to file its delayed annual financial statements?
What restrictions does the Management Cease Trade Order (MCTO) impose on Li-Metal Corp. (LIMFF)?
How often will Li-Metal Corp. (LIMFF) provide updates on the MCTO status?
What caused Li-Metal Corp. (LIMFF) to request a Management Cease Trade Order?
