PCA(US:PKG) newsfilecorp.comยท2024-05-29 20:24Core Viewpoint - ParcelPal Logistics Inc. is currently under a management cease trade order (MCTO) due to delays in filing its audited annual financial statements for the fiscal year ended December 31, 2023, which were originally due on April 29, 2024 [1][2]. Group 1: Management Cease Trade Order (MCTO) - The MCTO prohibits trading in the company's capital by the CEO and CFO until the required filings are completed and the MCTO is lifted [2]. - Other shareholders are not affected by the MCTO and can continue trading in the company's securities [2]. Group 2: Financial Filings Status - The preparation of the annual filings is impacting the timely completion of the interim financial statements for the three months ended March 31, 2024, which are due by May 30, 2024 [3]. - The company is working with newly appointed auditors to complete both the annual and interim filings as soon as possible, with an anticipated filing date on or before June 28, 2024 [4]. Group 3: Compliance and Reporting - Since the announcement of the MCTO, there have been no material changes to the information disclosed, and the company has not failed to meet its stated intentions regarding alternative information guidelines [5]. - The company will continue to issue bi-weekly default status reports until the required filings are posted and the MCTO is lifted [6]. Group 4: Company Overview - ParcelPal Logistics Inc. is based in Vancouver, British Columbia, and specializes in last-mile delivery services and logistics solutions across various sectors, including pharmacy, meal kit deliveries, retail, and groceries [7].