Management Cease Trade Order Status Report
Mynd Life Sciences Inc. (CNSX: MYND) has been granted a management cease trade order (MCTO) on March 3, 2025, affecting certain company insiders. The order comes after the company's inability to file its annual consolidated financial statements for the year ended October 31, 2024, before the February 28, 2025 deadline.
The delay is attributed to the company's external auditors requiring additional time to complete their work due to significant restructuring of the Company's debt and equity. The company expects to file the required 2024 Annual Filings by April 29, 2025.
The MCTO restricts trading in company securities by the CEO and CFO but does not affect other shareholders' ability to trade. The company has been placed on the British Columbia Securities Commission's defaulting issuers list due to non-compliance with continuous disclosure obligations.
Mynd Life Sciences Inc. (CNSX: MYND) ha ricevuto un'ordinanza di cessazione del commercio per la gestione (MCTO) il 3 marzo 2025, che riguarda alcuni membri interni dell'azienda. L'ordinanza è stata emessa a causa dell'incapacità dell'azienda di presentare i propri bilanci finanziari consolidati annuali per l'anno conclusosi il 31 ottobre 2024, prima della scadenza del 28 febbraio 2025.
Il ritardo è attribuito agli auditor esterni dell'azienda che richiedono ulteriore tempo per completare il loro lavoro a causa di una significativa ristrutturazione del debito e del capitale dell'azienda. L'azienda prevede di presentare i documenti annuali richiesti per il 2024 entro il 29 aprile 2025.
Il MCTO limita il commercio dei titoli aziendali da parte del CEO e del CFO, ma non influisce sulla capacità di altri azionisti di commerciare. L'azienda è stata inserita nell'elenco degli emittenti inadempienti della British Columbia Securities Commission a causa della non conformità agli obblighi di informativa continua.
Mynd Life Sciences Inc. (CNSX: MYND) ha recibido una orden de cese de operaciones de gestión (MCTO) el 3 de marzo de 2025, que afecta a ciertos miembros internos de la empresa. La orden se emite tras la incapacidad de la empresa para presentar sus estados financieros consolidados anuales para el año que finalizó el 31 de octubre de 2024, antes de la fecha límite del 28 de febrero de 2025.
El retraso se atribuye a que los auditores externos de la empresa requieren tiempo adicional para completar su trabajo debido a una reestructuración significativa de la deuda y el capital de la empresa. La empresa espera presentar los informes anuales requeridos para 2024 antes del 29 de abril de 2025.
El MCTO restringe el comercio de valores de la empresa por parte del CEO y del CFO, pero no afecta la capacidad de otros accionistas para comerciar. La empresa ha sido incluida en la lista de emisores incumplidores de la Comisión de Valores de Columbia Británica debido a la falta de cumplimiento con las obligaciones de divulgación continua.
Mynd Life Sciences Inc. (CNSX: MYND)는 2025년 3월 3일에 경영 중단 거래 명령(MCTO)을 받았으며, 이는 특정 회사 내부자에게 영향을 미칩니다. 이 명령은 2025년 2월 28일의 마감일 이전에 2024년 10월 31일로 종료된 연간 연결 재무제표를 제출하지 못한 회사의 상황에 따라 내려졌습니다.
지연은 회사의 부채 및 자본의 중대한 구조조정으로 인해 외부 감사인이 작업을 완료하는 데 추가 시간이 필요했기 때문입니다. 회사는 2024년 연간 보고서를 2025년 4월 29일까지 제출할 것으로 예상하고 있습니다.
MCTO는 CEO와 CFO의 회사 증권 거래를 제한하지만 다른 주주들의 거래 능력에는 영향을 미치지 않습니다. 이 회사는 지속적인 공시 의무를 준수하지 않아 브리티시컬럼비아 증권위원회의 불이행 발행자 목록에 포함되었습니다.
Mynd Life Sciences Inc. (CNSX: MYND) a reçu une ordonnance de cessation de commerce de gestion (MCTO) le 3 mars 2025, affectant certains membres internes de l'entreprise. L'ordonnance fait suite à l'incapacité de l'entreprise à déposer ses états financiers consolidés annuels pour l'exercice clos le 31 octobre 2024, avant la date limite du 28 février 2025.
Le retard est attribué au fait que les auditeurs externes de l'entreprise nécessitent un temps supplémentaire pour terminer leur travail en raison d'une restructuration significative de la dette et des capitaux propres de l'entreprise. L'entreprise prévoit de déposer les documents annuels requis pour 2024 d'ici le 29 avril 2025.
Le MCTO restreint le commerce des titres de l'entreprise par le PDG et le directeur financier, mais n'affecte pas la capacité des autres actionnaires à commercer. L'entreprise a été inscrite sur la liste des émetteurs en défaut de la Commission des valeurs mobilières de la Colombie-Britannique en raison de la non-conformité aux obligations de divulgation continue.
Mynd Life Sciences Inc. (CNSX: MYND) hat am 3. März 2025 eine Management-Handelsstoppverordnung (MCTO) erhalten, die bestimmte Insider des Unternehmens betrifft. Die Verordnung folgt auf die Unfähigkeit des Unternehmens, seine konsolidierten Jahresabschlüsse für das am 31. Oktober 2024 endende Geschäftsjahr vor der Frist am 28. Februar 2025 einzureichen.
Die Verzögerung wird darauf zurückgeführt, dass die externen Prüfer des Unternehmens zusätzliche Zeit benötigen, um ihre Arbeiten abzuschließen, aufgrund einer erheblichen Umstrukturierung der Unternehmensschulden und -eigenkapital. Das Unternehmen erwartet, die erforderlichen Jahresunterlagen für 2024 bis zum 29. April 2025 einzureichen.
Die MCTO schränkt den Handel mit Unternehmenswertpapieren durch den CEO und CFO ein, hat jedoch keinen Einfluss auf die Handelsfähigkeit anderer Aktionäre. Das Unternehmen wurde aufgrund der Nichteinhaltung der fortlaufenden Offenlegungspflichten auf die Liste der säumigen Emittenten der British Columbia Securities Commission gesetzt.
- Company maintains communication transparency with regular updates to shareholders
- Management actively working to resolve filing delays
- MCTO allows continued trading for regular shareholders
- Failure to meet annual financial filing deadline
- Placement on BCSC's defaulting issuers list
- Significant debt and equity restructuring indicating potential financial challenges
- Trading restrictions placed on company executives
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2025) - Mynd Life Sciences Inc. (CNSX: MYND) ("Mynd" or the "Company") announced on March 3, 2025 the Company was granted a management cease trade order (MCTO) under the National Policy 12-203 of the Canadian Securities Administrators ("NP 12-203") imposed against certain insiders of the Company. The MCTO was granted as the Company had 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").
In accordance with the alternative information guidelines set out in National Policy 12-203- Management Cease Trade Orders ("NP 12-203") MYND is giving the following update:
On March 1, 2025, the Company announced that it applied for a management cease trade order ("MCTO") with the applicable securities regulatory authorities in Canada on the basis that the Company would be unable to file its Annual Audited Financial Statement, the Required Filing, for the year ended October 31, 2024 by the applicable filing deadlines. The MCTO was issued on March 1, 2025 and restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company. The MCTO does not affect the ability of other shareholders of the Company to trade their securities.
The Company's management continues to work diligently to complete the Required Filing and anticipates that the Required Filing will be filed by April 29, 2025.
The Company confirms that since the date of the Original Announcement: (i) other than as described above, there has been no material change to the information set out in the Original Announcement that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
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, and diagnostics. 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/247930
FAQ
Why was Mynd Life Sciences (MYNDF) granted a management cease trade order in March 2025?
When will MYNDF file its delayed 2024 annual financial statements?
How does the MCTO affect MYNDF shareholders' ability to trade?
What is the current compliance status of MYNDF with securities regulators?
