MINERALRITE CORPORATION (RITE) Obtains Revocation of the Decade-Old Cease Trade Order from the Alberta Securities Commission
MINERALRITE (OTC Pink: RITE) has successfully obtained approval from the Alberta Securities Commission (ASC) to revoke a Cease Trade Order (CTO) that was imposed in 2013. The CTO was initially placed due to alleged management operations in Alberta and failure to file certain financial disclosures with the province, despite proper SEC filings.
In September 2024, CEO Burgauer filed for CTO revocation, which was approved after months of negotiations. This decision now enables Albertans and Canadians to resume trading RITE stock. The company, formerly headquartered in Calgary, sought this revocation to re-enfranchise its Canadian shareholder base.
The company now focuses on two remaining objectives: resolving a FINRA case regarding the April 2021 F Reorganization merger-redomicile and lifting the 'Eligible for Unsolicited Quotes Only' flag on the stock.
MINERALRITE (OTC Pink: RITE) ha ottenuto con successo l'approvazione dalla Alberta Securities Commission (ASC) per revocare un Cease Trade Order (CTO) imposto nel 2013. Il CTO era stato inizialmente emesso a causa di presunti operazioni di gestione in Alberta e per la mancata presentazione di alcune informazioni finanziarie alla provincia, nonostante i corretti filing presso la SEC.
Nel settembre 2024, il CEO Burgauer ha presentato la richiesta di revoca del CTO, che è stata approvata dopo mesi di negoziazioni. Questa decisione consente ora agli Albertani e ai canadesi di riprendere il trading delle azioni RITE. L'azienda, precedentemente con sede a Calgary, ha cercato questa revoca per riaffermare la sua base azionaria canadese.
L'azienda si concentra ora su due obiettivi rimanenti: risolvere un caso con la FINRA riguardante la fusione-redomiciliazione F di aprile 2021 e rimuovere il flag 'Idoneo solo per preventivi non sollecitati' sulle azioni.
MINERALRITE (OTC Pink: RITE) ha obtenido con éxito la aprobación de la Alberta Securities Commission (ASC) para revocar una Cease Trade Order (CTO) impuesta en 2013. La CTO se impuso inicialmente debido a las supuestas operaciones de gestión en Alberta y la falta de presentación de ciertos informes financieros a la provincia, a pesar de las presentaciones adecuadas ante la SEC.
En septiembre de 2024, el CEO Burgauer solicitó la revocación del CTO, que fue aprobada tras meses de negociaciones. Esta decisión ahora permite a los albertanos y canadienses reanudar el comercio de acciones de RITE. La empresa, que anteriormente tenía su sede en Calgary, buscó esta revocación para reafirmar su base de accionistas canadienses.
La empresa ahora se centra en dos objetivos restantes: resolver un caso con FINRA relacionado con la fusión-redomicilio F de abril de 2021 y levantar la bandera de 'Elegible solo para cotizaciones no solicitadas' sobre las acciones.
MINERALRITE (OTC Pink: RITE)는 2013년에 부과된 Cease Trade Order (CTO)를 철회하기 위해 앨버타 증권 위원회(ASC)로부터 승인을 성공적으로 받았습니다. CTO는 앨버타에서의 경영 활동과 특정 재무 공시를 주에 제출하지 않은 이유로 처음 부과되었으며, SEC에 대한 적절한 제출이 있었습니다.
2024년 9월, CEO 부르가우어는 CTO 철회를 요청했으며, 몇 달 간의 협상 끝에 승인되었습니다. 이 결정은 이제 앨버타 주민과 캐나다인이 RITE 주식 거래를 재개할 수 있도록 합니다. 이전에 캘거리 본사를 두었던 이 회사는 캐나다 주주 기반을 재확인하기 위해 이 철회를 요청했습니다.
회사는 이제 남은 두 가지 목표에 집중하고 있습니다: 2021년 4월 F 재조직 병합-재등록과 관련된 FINRA 사건 해결 및 주식에 대한 '비요청 인용만 가능' 플래그를 해제하는 것입니다.
MINERALRITE (OTC Pink: RITE) a obtenu avec succès l'approbation de la Alberta Securities Commission (ASC) pour révoquer un Cease Trade Order (CTO) qui a été imposé en 2013. Le CTO a été initialement placé en raison d'opérations de gestion présumées en Alberta et du non-respect de certaines divulgations financières auprès de la province, malgré des dépôts appropriés auprès de la SEC.
En septembre 2024, le PDG Burgauer a déposé une demande de révocation du CTO, qui a été approuvée après des mois de négociations. Cette décision permet désormais aux Albertains et aux Canadiens de reprendre le commerce des actions RITE. L'entreprise, anciennement basée à Calgary, a cherché cette révocation pour réaffirmer sa base d'actionnaires canadiens.
L'entreprise se concentre maintenant sur deux objectifs restants : résoudre une affaire avec la FINRA concernant la fusion-redomiciliation F d'avril 2021 et lever le drapeau 'Éligible uniquement pour des devis non sollicités' sur l'action.
MINERALRITE (OTC Pink: RITE) hat erfolgreich die Genehmigung der Alberta Securities Commission (ASC) erhalten, um eine Cease Trade Order (CTO), die 2013 verhängt wurde, aufzuheben. Die CTO wurde ursprünglich aufgrund angeblicher Managementoperationen in Alberta und der Nichteinhaltung bestimmter finanzieller Offenlegungen gegenüber der Provinz erlassen, trotz ordnungsgemäßer SEC-Einreichungen.
Im September 2024 beantragte CEO Burgauer die Aufhebung der CTO, die nach monatelangen Verhandlungen genehmigt wurde. Diese Entscheidung ermöglicht es nun Albertanern und Kanadiern, den Handel mit RITE-Aktien wieder aufzunehmen. Das Unternehmen, das früher seinen Hauptsitz in Calgary hatte, strebte diese Aufhebung an, um seine kanadische Aktionärsbasis wieder zu stärken.
Das Unternehmen konzentriert sich nun auf zwei verbleibende Ziele: die Lösung eines FINRA-Falls bezüglich der F-Reorganisation im April 2021 und die Aufhebung des 'Nur für unaufgeforderte Angebote geeignet'-Flags auf der Aktie.
- Successful revocation of decade-old Cease Trade Order in Alberta
- Expanded market access allowing Canadian investors to trade the stock
- Progress in regulatory compliance and corporate governance
- Outstanding FINRA case still pending resolution
- Stock remains under 'Eligible for Unsolicited Quotes Only' restriction
Dallas, Texas--(Newsfile Corp. - March 21, 2025) - MINERALRITETM Corporation (OTC Pink: RITE) (the "Company" or "RITE"), has succeeded in obtaining approval of its application with the Alberta Securities Commission ("ASC") to remove the decade-old Cease Trade Order which was placed against the Company back in 2013.
More than a decade ago, the Alberta Securities Commission entered an order against RITE based on issues which centered around the fact that the Company had allegedly been managed from the province and had not filed certain financial disclosures with the province even though the Company had properly filed them with the Securities and Exchange Commission ("SEC").
During the month of September of 2024, CEO Burgauer filed an Application for Revocation of the Cease Trade Order ("CTO") with the Alberta Securities Commission. After months of submissions and negotiations, the ASC agreed to lift its CTO thereby allowing Albertans and Canadians to once again trade in RITE stock.
RITE was, at one time in its history, headquartered in Calgary. As such, CEO Burgauer felt that the CTO disenfranchised part of the Company's shareholder base and felt that this injustice needed to be righted. To do so, he filed the application to have the CTO revoked.
CEO Burgauer reiterated, "Now that the CTO has been lifted by the ASC, the only two items that remain on my original tick list are the Case that I filed with FINRA to get them to acknowledge the F Reorganization merger-redomicile that occurred in April 2021, and the lifting of the Eligible for Unsolicited Quotes Only flag on the stock – both of which are in process. Completing both of these items will allow me to fully concentrate my efforts on ringing the Company's cash register!"
Further information on the lifting of the CTO can be found on the Investor Relations page of RITE's website (www.mineral-rite.com/IR), OTCMarkets.com, and on the Alberta Securities Commission's website as well.
Safe Harbor Disclosure
Forward-Looking Statements Certain information set forth in this presentation contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Investor Relations
investor-relations@mineral-rite.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245597
FAQ
When was the Cease Trade Order against MINERALRITE (RITE) originally imposed?
Why was MINERALRITE (RITE) under a Cease Trade Order in Alberta?
What does the CTO revocation mean for MINERALRITE (RITE) shareholders?
What remaining challenges does MINERALRITE (RITE) face after the CTO revocation?
