Nepra Foods Announces Revocation of the Cease Trade Order Issued on October 6, 2023

Rhea-AI Summary

Nepra Foods has announced the full revocation of its failure-to-file cease trade order (CTO) by the British Columbia Securities Commission and the Ontario Securities Commission, effective July 5, 2024. The CTO, issued on October 6, 2023, resulted from Nepra's failure to file essential financial documents for the periods ending March 31, 2023, and June 30, 2023. The company completed these filings on May 1, 2024, and expects trading of its common shares on the Canadian Securities Exchange to resume shortly. Despite the CTO, Nepra Foods has maintained its business operations throughout this period.

Positive

• Full revocation of the CTO by the British Columbia and Ontario Securities Commissions.
• Required financial filings completed on May 1, 2024.
• Anticipation of resumption of trading on the Canadian Securities Exchange soon.

Negative

• CTO issued due to failure to file financial documents for the periods ending March 31, 2023, and June 30, 2023.

VANCOUVER, BC / ACCESSWIRE / July 8, 2024 / Nepra Foods Inc. (CSE:NPRA)(FSE:2P6)(OTC PINK:NPRFF) ("Nepra Foods" or the "Company"), is pleased to announce that on July 5, 2024, the British Columbia Securities Commission and the Ontario Securities Commission issued a full revocation of the Company's failure-to-file cease trade order (the "CTO"), which was originally issued on October 6, 2023. The Company anticipates that trading of its common shares on the Canadian Securities Exchange will recommence as soon as practicable.

The CTO was issued due to the Company's failure to file annual audited financial statements for the year ended March 31, 2023, the interim financial statements for the period ended June 30, 2023, together with the related Management Discussion and Analysis ("MD&A") for such periods, and certifications of annual and interim filings for the periods ended March 31, 2023 and June 30, 2023 (the "Required Filings").

On May 1, 2024 the Company filed the Required Filings, which can be found on the Company's SEDAR+ profile at www.sedarplus.ca.

The Company continues to engage in its active business as it has for entire period in which the CTO was in effect.

About Nepra Foods Inc.

Nepra Foods is grounded in a passion for food. We believe eating healthy should be easy. Everybody deserves food options that are truly nutritious and taste good. Food should be allergen-free so that everyone in the family can enjoy eating it together. Plant-based foods can offer high-quality nutrition and taste great while maintaining a low-carb profile. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.

ON BEHALF OF THE BOARD OF DIRECTORS

David Wood, COO and Interim CFO
investors@neprafoods.com

Investor Relations Toll-free (844) 566-1917

The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the Company's financial performance, business development, results of operations, and those listed in filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Accordingly, readers should not place undue reliance on any such forward looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

SOURCE: Nepra Foods

View the original press release on accesswire.com

FAQ

Why was the cease trade order (CTO) issued for Nepra Foods (NPRFF)?

The CTO was issued on October 6, 2023, because Nepra Foods failed to file annual and interim financial statements for the periods ending March 31, 2023, and June 30, 2023.

When was the cease trade order (CTO) for Nepra Foods (NPRFF) revoked?

The CTO was fully revoked on July 5, 2024, by the British Columbia Securities Commission and the Ontario Securities Commission.

When did Nepra Foods (NPRFF) complete the required financial filings?

Nepra Foods completed the required financial filings on May 1, 2024.

When will trading of Nepra Foods (NPRFF) shares resume on the Canadian Securities Exchange?

Nepra Foods expects trading of its common shares to recommence on the Canadian Securities Exchange shortly now that the CTO has been revoked.