1933 Industries Provides Update on Status of Filing Delay for 4th Quarterly Report
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) provided an update regarding its delayed filing of audited financial statements for the year ended July 31, 2024. The British Columbia Securities Commission granted a Management Cease Trade Order (MCTO) on November 29, 2024, restricting trading by key executives until the filings are complete. The company expects to finalize the Audited Filings by January 27, 2025.
During this period, shareholders can continue trading, but an insider trading blackout has been imposed. The Q1 2025 financial report for the period ended October 31, 2024, will be delayed until after the completion of the Audited Filings. The company confirmed no material changes or defaults since the initial announcement and is not subject to insolvency proceedings.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) ha fornito un aggiornamento riguardo al ritardo nella presentazione dei rendiconti finanziari auditati per l'anno conclusosi il 31 luglio 2024. La British Columbia Securities Commission ha emesso un'Ordine di Stop Trading per la Direzione (MCTO) il 29 novembre 2024, limitando le operazioni da parte dei dirigenti chiave fino al completamento delle presentazioni. L'azienda prevede di finalizzare i Rendiconti Auditati entro il 27 gennaio 2025.
Durante questo periodo, gli azionisti possono continuare a fare trading, ma è stato imposto un divieto di trading per gli insider. Il rapporto finanziario del primo trimestre 2025 per il periodo conclusosi il 31 ottobre 2024, sarà ritardato fino al completamento dei Rendiconti Auditati. L'azienda ha confermato che non ci sono stati cambiamenti materiali o inadempienze dall'annuncio iniziale e non è soggetta a procedure di insolvenza.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) proporcionó una actualización sobre el retraso en la presentación de los estados financieros auditados para el año que terminó el 31 de julio de 2024. La Comisión de Valores de Columbia Británica emitió una Orden de Cese de Comercio de Dirección (MCTO) el 29 de noviembre de 2024, restringiendo el comercio por parte de los ejecutivos clave hasta que se completen las presentaciones. La empresa espera finalizar las Presentaciones Auditadas para el 27 de enero de 2025.
Durante este período, los accionistas pueden seguir comerciando, pero se ha impuesto un bloqueo de comercio para los insiders. El informe financiero del primer trimestre de 2025 para el período que terminó el 31 de octubre de 2024, se retrasará hasta después de la finalización de las Presentaciones Auditadas. La empresa confirmó que no ha habido cambios materiales o incumplimientos desde el anuncio inicial y no está sujeta a procedimientos de insolvencia.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF)는 2024년 7월 31일 종료된 회계 연도의 감사 재무 제표 제출 지연에 대한 업데이트를 제공했습니다. 브리티시컬럼비아증권위원회는 2024년 11월 29일 관리 중지 거래 명령(MCTO)을 발부하여 주요 경영진의 거래를 제출 완료 시까지 제한하고 있습니다. 회사는 2025년 1월 27일까지 감사 보고서를 마무리할 계획입니다.
이 기간 동안 주주들은 계속 거래할 수 있지만 내부자 거래 금지가 시행됩니다. 2024년 10월 31일 종료된 기간의 2025년 1분기 재무 보고서는 감사 보고서 완료 후로 연기될 것입니다. 회사는 초기 발표 이후로 중대한 변경이나 위반이 없었으며 파산 절차에 처해 있지 않다고 확인했습니다.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) a fourni une mise à jour concernant le retard dans le dépôt des états financiers audités pour l'année se terminant le 31 juillet 2024. La Commission des valeurs mobilières de la Colombie-Britannique a délivré un ordre d'arrêt de négociation de direction (MCTO) le 29 novembre 2024, restreignant le trading par les dirigeants clés jusqu'à ce que les dépôts soient complets. L'entreprise prévoit de finaliser les dépôts audités d'ici le 27 janvier 2025.
Durant cette période, les actionnaires peuvent continuer à négocier, mais un blackout des transactions pour les initiés a été imposé. Le rapport financier du premier trimestre 2025 pour la période se terminant le 31 octobre 2024, sera retardé jusqu'après l'achèvement des dépôts audités. L'entreprise a confirmé qu'il n'y a eu aucun changement matériel ou défauts depuis l'annonce initiale et qu'elle n'est pas soumise à des procédures d'insolvabilité.
1933 Industries (CSE:TGIF)(OTC PINK:TGIFF) hat ein Update zu den verspäteten Einreichungen der geprüften Finanzberichte für das am 31. Juli 2024 endende Geschäftsjahr gegeben. Die British Columbia Securities Commission hat am 29. November 2024 eine Management Cease Trade Order (MCTO) erlassen, die den Handel durch wichtige Führungskräfte bis zur vollständigen Einreichung der Berichte einschränkt. Das Unternehmen plant, die geprüften Einreichungen bis zum 27. Januar 2025 abzuschließen.
Während dieses Zeitraums können die Aktionäre weiterhin handeln, jedoch wurde ein Handelsverbot für Insider verhängt. Der Finanzbericht für das erste Quartal 2025 für den Zeitraum bis zum 31. Oktober 2024 wird bis nach Abschluss der geprüften Einreichungen verzögert. Das Unternehmen hat bestätigt, dass es seit der ursprünglichen Ankündigung keine wesentlichen Änderungen oder Vertragsverletzungen gegeben hat und nicht insolvenzgefährdet ist.
- None.
- Delayed filing of FY2024 audited financial statements
- Management Cease Trade Order (MCTO) restricting executives from trading
- Q1 2025 financial report will also be delayed
- Imposed insider trading blackout
VANCOUVER, BC / ACCESSWIRE / December 27, 2024 / 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE:TGIF)(OTC PINK:TGIFF), a Nevada-focused cannabis cultivator and producer, is pleased to provide an update to its news release dated November 29, 2024 (the "Announcement") announcing its request for a management cease trade order (the "MCTO") relating to the late filing of the Company's audited financial statements, management discussion & analysis and applicable CEO and CFO certifications for the year ended July 31, 2024 (the "Audited Filings").
The Company's principal regulator, the British Columbia Securities Commission (the "Commission"), granted the MCTO on November 29, 2024, under National Policy 12-203 - Management Cease Trader Orders ("NP 12-203"). Pursuant to the MCTO, Paul Rosen, Chairman and Chief Executive Officer, Brian Farrell, Chief Financial Officer, and Curtis Floyd, Director, may not trade in the securities of the Company until such time as the Company files the Audited Filings and the Commission revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities. The Company's Board of Directors and management are continuing to work with its accounting team and other stakeholders to prepare the Audited Filings as soon as practicable and it is the Company's reasonable expectation that the Audited Filings will be finalized on or before January 27, 2025.
Until the Audited Filings are filed, the Company intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release. The Company has imposed an insider trading blackout pending the filing of the Audited Filings.
The Company confirms that, since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) there has not been any other specified default by the Company under NP 12-203; (iii) the Company is not subject to any insolvency proceedings as of the date of this news release and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
In addition, the Company's Q1 2025 financial report, including financial statements, management discussion & analysis and applicable CEO and CFO certifications for the year ended Oct. 31, 2024, will not be filed until the Audited Filings are filed.
About 1933 Industries Inc.
1933 Industries is a Nevada-based licensed producer, focused on the cultivation and extraction of a large portfolio of cannabis consumer products in a variety of formats under its flagship brands, Alternative Medicine Association (AMA) and Level X. Its product offerings are cultivated at the Company's 68,000 sq. ft. indoor facility and marketed directly to retail dispensaries. AMA branded flower, infused pre-rolls, and in-house boutique concentrates consistently rank as the top products sold in Nevada. For more information, please visit www.1933industries.com
For further information please contact:
Alexia Helgason, VP, Investor Relations
604-728-4407
alexia@1933industries.com
Paul Rosen, CEO
paul@1933industries.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: 1933 Industries Inc.
View the original press release on accesswire.com
FAQ
When will 1933 Industries (TGIFF) file its delayed FY2024 audited financial statements?
What restrictions does the MCTO place on TGIFF executives?
Can shareholders trade TGIFF stock during the MCTO period?
When will TGIFF release its Q1 2025 financial report?
What is the current status of TGIFF's insider trading policy?
