Management Cease Trade Order Granted
Mynd Life Sciences (CNSX: MYND) has announced a delay in filing its annual consolidated financial statements for the year ended October 31, 2024. The company's external auditors informed that they cannot complete their work before the February 28, 2025 deadline due to significant restructuring of the company's debt and equity.
As a result, Mynd will be unable to file the 2024 Annual Filings, including Management Discussion & Analysis, CEO and CFO certifications, and Annual Information Form by the required deadline. The company plans to complete and file these documents by April 29, 2025.
Following this delay, Mynd will be placed on the British Columbia Securities Commission's defaulting issuers list and has been granted a management cease trade order (MCTO) against certain company insiders. The MCTO will remain in effect until the audited statements are filed and must issue bi-weekly default status reports through press releases.
Mynd Life Sciences (CNSX: MYND) ha annunciato un ritardo nella presentazione dei suoi bilanci consolidati annuali per l'anno conclusosi il 31 ottobre 2024. I revisori esterni dell'azienda hanno informato che non possono completare il loro lavoro prima della scadenza del 28 febbraio 2025 a causa di una significativa ristrutturazione del debito e del capitale dell'azienda.
Di conseguenza, Mynd non sarà in grado di presentare i documenti annuali del 2024, inclusi il Management Discussion & Analysis, le certificazioni del CEO e del CFO e il Modulo Informativo Annuale entro la scadenza richiesta. L'azienda prevede di completare e presentare questi documenti entro il 29 aprile 2025.
In seguito a questo ritardo, Mynd sarà inserita nell'elenco degli emittenti inadempienti della British Columbia Securities Commission e le è stato concesso un ordine di cessazione del commercio da parte della direzione (MCTO) contro alcuni insider dell'azienda. Il MCTO rimarrà in vigore fino a quando i bilanci auditati non saranno presentati e dovrà emettere rapporti di stato di default ogni due settimane tramite comunicati stampa.
Mynd Life Sciences (CNSX: MYND) ha anunciado un retraso en la presentación de sus estados financieros consolidados anuales para el año que finalizó el 31 de octubre de 2024. Los auditores externos de la empresa informaron que no pueden completar su trabajo antes de la fecha límite del 28 de febrero de 2025 debido a una reestructuración significativa de la deuda y el capital de la empresa.
Como resultado, Mynd no podrá presentar las Declaraciones Anuales de 2024, incluyendo el Análisis y Discusión de la Gerencia, las certificaciones del CEO y CFO, y el Formulario de Información Anual dentro de la fecha límite requerida. La empresa planea completar y presentar estos documentos para el 29 de abril de 2025.
Tras este retraso, Mynd será incluida en la lista de emisores incumplidores de la Comisión de Valores de Columbia Británica y se le ha otorgado una orden de cese de comercio por parte de la dirección (MCTO) contra ciertos insiders de la empresa. La MCTO permanecerá en efecto hasta que se presenten los estados auditados y deberá emitir informes de estado de incumplimiento cada dos semanas a través de comunicados de prensa.
Mynd Life Sciences (CNSX: MYND)는 2024년 10월 31일 종료 연도의 연간 통합 재무제표 제출이 지연되었다고 발표했습니다. 회사의 외부 감사인은 회사의 부채 및 자본 구조 조정이 상당하여 2025년 2월 28일 마감일까지 작업을 완료할 수 없다고 알렸습니다.
그 결과, Mynd는 요구된 마감일까지 경영 논의 및 분석, CEO 및 CFO 인증서, 연간 정보 양식을 포함한 2024년 연간 제출물을 제출할 수 없습니다. 회사는 2025년 4월 29일까지 이러한 문서를 완료하고 제출할 계획입니다.
이번 지연으로 인해 Mynd는 브리티시컬럼비아 증권위원회의 채무 불이행 발행자 목록에 올라가며, 특정 회사 내부자에 대한 경영 중지 거래 명령(MCTO)이 부여되었습니다. MCTO는 감사된 재무제표가 제출될 때까지 유효하며, 보도 자료를 통해 격주로 채무 불이행 상태 보고서를 발행해야 합니다.
Mynd Life Sciences (CNSX: MYND) a annoncé un retard dans le dépôt de ses états financiers consolidés annuels pour l'exercice clos le 31 octobre 2024. Les auditeurs externes de l'entreprise ont informé qu'ils ne peuvent pas terminer leur travail avant la date limite du 28 février 2025 en raison d'une restructuration significative de la dette et des capitaux propres de l'entreprise.
En conséquence, Mynd ne sera pas en mesure de déposer les Déclarations Annuelles 2024, y compris la Discussion et Analyse de la Direction, les certifications du PDG et du CFO, et le Formulaire d'Information Annuel dans le délai requis. L'entreprise prévoit de compléter et de déposer ces documents d'ici le 29 avril 2025.
Suite à ce retard, Mynd sera inscrit sur la liste des émetteurs défaillants de la British Columbia Securities Commission et a reçu un ordre de cessation de commerce de la direction (MCTO) contre certains initiés de l'entreprise. Le MCTO restera en vigueur jusqu'à ce que les états financiers audités soient déposés et devra émettre des rapports de statut de défaut toutes les deux semaines par le biais de communiqués de presse.
Mynd Life Sciences (CNSX: MYND) hat eine Verzögerung bei der Einreichung seiner konsolidierten Jahresabschlüsse für das am 31. Oktober 2024 endende Geschäftsjahr bekannt gegeben. Die externen Prüfer des Unternehmens haben mitgeteilt, dass sie ihre Arbeit vor der Frist am 28. Februar 2025 aufgrund einer erheblichen Umstrukturierung der Unternehmensschulden und -kapital nicht abschließen können.
Infolgedessen wird Mynd nicht in der Lage sein, die Jahresunterlagen 2024, einschließlich Management Discussion & Analysis, CEO- und CFO-Zertifikate sowie das Jahresinformationsformular bis zur erforderlichen Frist einzureichen. Das Unternehmen plant, diese Dokumente bis zum 29. April 2025 abzuschließen und einzureichen.
Nach dieser Verzögerung wird Mynd auf die Liste der säumigen Emittenten der British Columbia Securities Commission gesetzt und hat eine Management-Cease-Trade-Order (MCTO) gegen bestimmte Insider des Unternehmens erhalten. Die MCTO bleibt in Kraft, bis die geprüften Abschlüsse eingereicht sind, und muss alle zwei Wochen Statusberichte über die Default-Situation durch Pressemitteilungen herausgeben.
- Granted extension until April 29, 2025 to file annual statements
- Failed to meet regulatory filing deadline for 2024 annual financial statements
- Placed on BCSC defaulting issuers list
- Management cease trade order imposed on company insiders
- Significant debt and equity restructuring causing delays
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Mynd Life Sciences Inc. (CNSX: MYND) ("Mynd" or the "Company") announces that it has been advised by its external auditors (the "Auditors") that they will not be in a position to complete their work on the Company's annual consolidated financial statements for the year ended October 31, 2024 (the "2024 Financial Statements") prior to the filing deadline of February 28, 2025 (the "Annual Filing Deadline") due to a delay in finalizing the required financial documents due to significant restructuring of the Company's debt and equity. As a result, the Company will not be able to file the 2024 Financial Statements, accompanying Management Discussion & Analysis and CEO and CFO certifications, and the Annual Information Form (collectively, the "2024 Annual Filings") prior to the Annual Filing Deadline as required under applicable Canadian securities laws. The Company has made arrangements to complete and file the 2024 Financial Statements prior to the April 29, 2025 deadline. Accordingly, subsequent to the Annual Filing Deadline, the Company will be in default of its continuous disclosure obligations under applicable Canadian securities laws and placed on the defaulting issuers list of the British Columbia Securities Commission ("BCSC").
The Company further announces that it has been granted a management cease trade order (MCTO) under National Policy 12-203 of the Canadian Securities Administrators ("NP 12-203") imposed against certain insiders of the Company. The MCTO will remain in effect until the Company has filed its audited statements and the Executive Director of the BCSC has revoked the order. The Company will be required to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for so long as the MCTO remains in effect, including the issuance of bi-weekly default status reports by way of press releases.
The Company will make further announcements with respect to the status of the 2024 Annual Filings as and when appropriate.
ABOUT MYND LIFE SCIENCES INC.
MYND Life Sciences Inc. is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. MYND is developing new biological entities (NBEs) and new chemical entities (NCEs) and differentiates itself from other (bio)pharmaceutical companies by unique molecular concepts for the applications of Psilocybins for overcoming disease. The Company advances pharmaceutical developments through rigorous science and clinical trials while diligently patenting and safeguarding its intellectual property.
Contact:
Dr. Lyle Oberg, MD, Executive Chair
Email: ir@myndsciences.com
Web: www.myndsciences.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243193
FAQ
Why did Mynd Life Sciences (MYNDF) receive a management cease trade order in March 2025?
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