Wellfield Technologies Inc. Announces Grant of Management Cease Trade Order and Status Report

Core Viewpoint - Wellfield Technologies Inc. has received a management cease trade order (MCTO) from the British Columbia Securities Commission, allowing the company until September 29, 2025, to file its audited financial statements for the fiscal year ending March 31, 2025, after missing the original deadline of July 29, 2025 [1][2][6]. Group 1: Management Cease Trade Order (MCTO) - The MCTO prohibits the chief executive officer and chief financial officer from trading in the company's securities until the annual filings are completed [2]. - Other individuals are still permitted to trade in the company's securities despite the MCTO [2]. - The company is required to comply with alternative information guidelines while in default, including issuing bi-weekly default status reports [3][8]. Group 2: Filing Requirements and Timeline - The company must file its annual financial statements and related management discussion and analysis by September 29, 2025, which is two months beyond the original deadline [1][6]. - Failure to file within this extended period may lead to a cease trade order (CTO) being imposed by securities commissions [6]. Group 3: Company Status and Compliance Efforts - As of the date of the announcement, the company is not undergoing any insolvency proceedings and has disclosed no undisclosed material information [4]. - The company is actively working with its auditor to complete the annual filings and aims to remedy the filing default by August 29, 2025 [7].