Wedgemount Resources Corp. Provides Second Management Cease Trade Order Update
Wedgemount Resources (CSE: WDGY) has provided a second update regarding its management cease trade order (MCTO) issued by the British Columbia Securities Commission on November 29, 2024. The company and auditors are working to file the required annual financial statements and related documents for the year ended July 31, 2024, with a deadline of January 27, 2024.
Under the MCTO, the CEO and CFO are restricted from trading company securities until the required filings are completed and the order is revoked. Other shareholders maintain their ability to trade. The company confirms no material changes since the initial default announcement and will continue issuing bi-weekly status reports in accordance with National Policy 12-203.
Wedgemount Resources (CSE: WDGY) ha fornito un secondo aggiornamento riguardo l'ordine di cessazione del commercio della gestione (MCTO) emesso dalla British Columbia Securities Commission il 29 novembre 2024. L'azienda e i revisori stanno lavorando per presentare i rendiconti finanziari annuali richiesti e i documenti correlati per l'anno chiuso il 31 luglio 2024, con una scadenza fissata per il 27 gennaio 2024.
Ai sensi dell'MCTO, il CEO e il CFO sono limitati nella contrattazione dei titoli aziendali fino al completamento delle presentazioni richieste e alla revoca dell'ordine. Gli altri azionisti mantengono la possibilità di negoziare. L'azienda conferma che non ci sono cambiamenti materiali dalla prima comunicazione di inadempienza e continuerà a emettere rapporti di stato bisettimanali in conformità con la National Policy 12-203.
Wedgemount Resources (CSE: WDGY) ha proporcionado una segunda actualización sobre su orden de cese de comercio por gestión (MCTO) emitida por la Comisión de Valores de Columbia Británica el 29 de noviembre de 2024. La empresa y los auditores están trabajando para presentar los estados financieros anuales requeridos y los documentos relacionados para el año que terminó el 31 de julio de 2024, con un plazo establecido para el 27 de enero de 2024.
Bajo el MCTO, el CEO y el CFO están restringidos para comerciar valores de la empresa hasta que se completen las presentaciones requeridas y se revoque la orden. Los otros accionistas mantienen su capacidad para comerciar. La empresa confirma que no ha habido cambios materiales desde el anuncio inicial de incumplimiento y continuará emitiendo informes de estado quincenales de acuerdo con la Política Nacional 12-203.
Wedgemount Resources (CSE: WDGY)는 2024년 11월 29일 브리티시컬럼비아 증권위원회에서 발행한 경영 거래 중단 명령(MCTO)에 관한 두 번째 업데이트를 제공했습니다. 회사와 감사인은 2024년 7월 31일로 종료된 회계연도에 대한 필수 연간 재무제표 및 관련 문서를 제출하기 위해 작업 중이며, 제출 마감일은 2024년 1월 27일로 설정되어 있습니다.
MCTO에 따라 CEO와 CFO는 필수 제출이 완료되고 명령이 철회될 때까지 회사 증권 거래가 제한됩니다. 다른 주주는 거래할 수 있는 능력을 유지합니다. 이 회사는 최초의 불이행 발표 이후로 중대한 변경 사항이 없다고 확인하며, 국가 정책 12-203에 따라 격주 상태 보고서를 계속 발행할 것입니다.
Wedgemount Resources (CSE: WDGY) a fourni une deuxième mise à jour concernant son ordre de cessation de commerce de gestion (MCTO) émis par la Commission des valeurs mobilières de la Colombie-Britannique le 29 novembre 2024. L'entreprise et les auditeurs travaillent à la soumission des états financiers annuels requis et des documents connexes pour l'exercice clos le 31 juillet 2024, avec une date limite fixée au 27 janvier 2024.
Dans le cadre de la MCTO, le PDG et le directeur financier sont interdits de négocier des titres de l'entreprise jusqu'à ce que les dépôts requis soient complétés et que l'ordre soit révoqué. Les autres actionnaires conservent leur capacité à négocier. L'entreprise confirme qu'il n'y a eu aucun changement matériel depuis l'annonce initiale de défaut et continuera à émettre des rapports d'état bi-hebdomadaires conformément à la Politique nationale 12-203.
Wedgemount Resources (CSE: WDGY) hat ein zweites Update zu seiner Management-Handelsstopp-Anordnung (MCTO) bereitgestellt, die am 29. November 2024 von der British Columbia Securities Commission erlassen wurde. Das Unternehmen und die Prüfer arbeiten daran, die erforderlichen Jahresabschlüsse und zugehörigen Dokumente für das zum 31. Juli 2024 endende Geschäftsjahr einzureichen, mit einer Frist bis zum 27. Januar 2024.
Gemäß der MCTO sind der CEO und der CFO davon abgehalten, Unternehmenswerte zu handeln, bis die erforderlichen Einreichungen abgeschlossen und der Beschluss aufgehoben ist. Andere Aktionäre behalten ihre Fähigkeit, zu handeln. Das Unternehmen bestätigt, dass seit der ursprünglichen Bekanntmachung des Verstoßes keine wesentlichen Änderungen eingetreten sind und wird weiterhin alle zwei Wochen Statusberichte gemäß der National Policy 12-203 herausgeben.
- None.
- Company failed to file required annual financial statements on time
- Management cease trade order (MCTO) restricts CEO and CFO from trading company shares
- Delayed financial reporting indicates potential internal control or accounting issues
Vancouver, British Columbia--(Newsfile Corp. - December 27, 2024) - Wedgemount Resources Corp. (CSE: WDGY) ("Wedgemount" or the "Company") is providing a second update with respect to its previously announced management cease trade order ("MCTO") issued by the Company's principal regulator, the British Columbia Securities Commission (the "BCSC"), on November 29, 2024.
The Company and its auditors continue to work diligently to file the audited annual financial statements and related management's discussion and analysis for the financial year ended July 31, 2024 and the associated certifications of the Company's Chief Executive Officer and Chief Financial Officer (collectively the "Required Filings") as soon as they are available, but in any event no later than January 27, 2024.
As previously announced, pursuant to the MCTO, the Chief Executive Officer and Chief Financial Officer of the Company may not trade in securities of the Company until such time as the Company files the Required Filings and the BCSC revokes the MCTO. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
The Company is providing this bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). Until such time as the Company files the Required Filings and the MCTO has been revoked, the Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases.
Pursuant to the provisions of the Alternative Information Guidelines specified in NP 12-203, the Company confirms that, as of the date of this news release: (a) there have been no material changes to the information contained in the default announcement issued on November 29, 2024 (the "Default Announcement") that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the Alternative Information Guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
Mark Vanry, CEO
For more information, please contact the Company at:
Telephone: (604) 343-4743
info@wedgemountresources.com
www.wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the anticipated filing date of the Required Filings. Investors are cautioned that any such forward- looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235251
FAQ
When will Wedgemount Resources (WDGY) file its delayed 2024 annual financial statements?
What restrictions does the MCTO place on Wedgemount Resources (WDGY) trading?
When was the management cease trade order (MCTO) issued for Wedgemount Resources (WDGY)?
What reporting requirements must Wedgemount Resources (WDGY) follow under the MCTO?
