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PetroFrontier Corp. Announces Cease Trade Order
Thenewswire· 2025-07-19 02:00
Core Viewpoint - PetroFrontier Corp. is facing significant delays in filing its annual financial statements, leading to a management cease trade order and a failure-to-file cease trade order from the Alberta Securities Commission, resulting in a halt of trading of its common shares on the TSX Venture Exchange [1][2]. Group 1: Company Updates - The Alberta Securities Commission issued a management cease trade order to PetroFrontier due to delays in filing its annual financial statements for the year ended December 31, 2024 [1]. - A failure-to-file cease trade order was issued on July 17, 2025, which has halted the trading of the company's common shares [1]. - The delays in filing are attributed to the receipt of financial and other required information from the general partner of the company's limited partnership investment, affecting the external auditor's ability to complete the audit [1]. Group 2: Financial Reporting - The company's interim financial statements for the three months ended March 31, 2025, will only be filed after the annual financial statements are submitted [2]. - The board of directors and management are actively working to meet the obligations related to the filing of both the annual and interim financial statements [2]. Group 3: Company Profile - PetroFrontier is a junior energy company focused on developing two Mannville heavy oil plays located in the Cold Lake and Wabasca areas of Alberta [3].
Altima Energy Provides Bi-Weekly MCTO Status Update and Corporate Update
Newsfile· 2025-07-16 21:50
Core Viewpoint - Altima Energy Inc. is providing updates on its management cease trade order, proposed acquisitions, and a private placement financing initiative totaling up to $5,500,000 [1][4]. Group 1: Management Cease Trade Order (MCTO) - On July 2, 2025, the company applied for a management cease trade order due to delays in filing its audited annual financial statements for the year ended February 28, 2025 [2]. - The MCTO restricts the CEO and CFO from trading in the company's securities until the required documents are filed and the order is revoked [2]. - The company expects to file the required documents by August 29, 2025 [2]. Group 2: Property Acquisition - The company has paid a non-refundable deposit of $150,000 for the prospective acquisition of the Red Earth Property in Northern Alberta, with a total consideration of $1,050,000 CAD [3]. - This acquisition is arms-length, and while no binding agreement is in place yet, the company anticipates finalizing it upon closing the financing [3]. Group 3: Private Placement Financing - On July 8, 2025, the company announced a private placement for gross proceeds of up to $5,500,000, pending acceptance by the TSX Venture Exchange [4]. - The anticipated closing date for the private placement is around July 18, 2025 [4]. Group 4: Company Status and Compliance - The company confirms that there have been no material changes to the information disclosed in the original announcement and continues to comply with NP 12-203 guidelines [5][6]. - There are no other material undisclosed affairs concerning the company [5]. Group 5: Company Overview - Altima Energy is an oil and gas exploration and production company based in Vancouver, focusing on hydrocarbon asset development across North America [7]. - The company aims for operational excellence and sustainable growth while enhancing shareholder returns through disciplined asset management [7].
WestKam Gold Corp. Provides Update on Management Cease Trade Order, Announces Appointment of Interim CFO and Announces Private Placement
Globenewswire· 2025-07-15 11:30
Core Viewpoint - WestKam Gold Corp. is facing a management cease trade order (MCTO) due to delays in filing interim financial statements, with the appointment of a new Interim CFO to expedite the process [1][2]. Group 1: Management and Financial Updates - The MCTO was issued by the British Columbia Securities Commission (BCSC) because the Company failed to file its interim financial statements by the June 30, 2025 deadline [1]. - The CFO, Pam Saulnier, went on unexpected medical leave, prompting the appointment of Akash Patel as the Interim CFO to assist in completing the Interim Filings [2][6]. - The MCTO restricts the CEO and CFO from trading the Company's securities until the Interim Filings are submitted and the MCTO is revoked, but it does not affect shareholders' trading abilities [3]. Group 2: Compliance and Reporting - The Company is adhering to National Policy 12-203 regarding Management Cease Trade Orders, which includes issuing bi-weekly default status reports until the Interim Filings are completed [4]. - As of the latest update, there have been no material changes to the information in the MCTO Announcement, and the Company has not failed to meet its stated intentions regarding the Guidelines [5]. Group 3: Private Placement - WestKam Gold Corp. plans to undertake a non-brokered private placement to raise up to $250,000 through the sale of up to 3,571,428 units at a price of $0.07 each [7]. - Each unit will consist of one common share and one common share purchase warrant exercisable at $0.10 for two years following the close of the Offering [7]. - Proceeds from the Offering will be used for exploration on the Will Property and for unallocated working capital, subject to regulatory approvals [8]. Group 4: Company Overview - WestKam Gold Corp. focuses on acquiring and developing mineral properties in Western Canada, seeking projects in established mining districts with potential for significant resources [10].
WestKam Gold Corp. Provides Update on Management Cease Trade Order, Announces Appointment of Interim CFO and Announces Private Placement
GlobeNewswire News Room· 2025-07-15 11:30
Core Viewpoint - WestKam Gold Corp. is currently under a management cease trade order (MCTO) due to delays in filing interim financial statements, with updates on the appointment of a new Interim CFO and plans for a private placement to raise funds [1][2][7]. Group 1: Management and Financial Updates - The company failed to file its interim financial statements by the June 30, 2025 deadline due to the unexpected medical leave of its CFO, Pam Saulnier [2]. - Akash Patel has been appointed as the Interim CFO to assist in completing the interim filings as soon as possible [2][6]. - The MCTO restricts the CEO and CFO from trading the company's securities until the interim filings are submitted and the MCTO is revoked, but it does not affect shareholders' ability to trade [3]. Group 2: Compliance and Reporting - The company is providing updates in accordance with National Policy 12-203, including bi-weekly default status reports until the interim filings are completed [4]. - As of the latest update, there have been no material changes to the information in the MCTO announcement, and no anticipated defaults beyond the current situation [5]. Group 3: Private Placement - WestKam Gold Corp. plans to undertake a non-brokered private placement to raise up to $250,000 through the sale of up to 3,571,428 units at a price of $0.07 each [7]. - Each unit will consist of one common share and one common share purchase warrant exercisable at $0.10 for two years [7]. - Proceeds from the offering will be used for exploration on the Will Property and for unallocated working capital, subject to regulatory approvals [8].
WestKam Gold Corp. Announces Late Filing of Q2 Interim Financial Statements and Management Cease Trade Order
Globenewswire· 2025-07-02 22:43
Core Points - WestKam Gold Corp. was unable to meet the June 30, 2025 deadline for filing its interim financial statements due to the CFO's medical leave [1] - The company is in the process of hiring new accounting personnel and an Interim CFO to complete the Interim Financials, expected to be filed by the end of August 2025 [1] - The company received approval for a management cease trade order (MCTO) from the British Columbia Securities Commission due to the late filing [2] - While the MCTO is in effect, the general public can still trade the company's shares, but the CEO and Interim CFO are prohibited from trading [4] - The company must issue bi-weekly default status reports while the MCTO is in effect [3] Company Overview - WestKam Gold Corp. is a Canadian-listed junior gold exploration company focused on projects in Western North America [5]
Aja Health and Wellness Inc. Announces Update on Application for Management Cease Trade Order
Globenewswire· 2025-04-29 23:57
Core Viewpoint - Aja Health and Wellness Inc. has filed an amended application for a management cease trade order (MCTO) due to anticipated delays in filing its annual audited financial statements for the year ending December 31, 2024 [2][3]. Group 1: Management Cease Trade Order (MCTO) - The MCTO is sought because the company expects to miss the April 30, 2025 filing deadline for its Required Annual Filings, which include annual audited financial statements and related management discussions [3]. - The delay is primarily due to the company's auditor seeking guidance on the accounting characterization of a reverse takeover transaction that closed on September 17, 2024, which may significantly impact the Required Annual Filings [3]. - The MCTO will restrict trading in the company's securities by executive officers until the Required Annual Filings are submitted, but regular trading by other investors will continue as normal [4]. Group 2: Filing Timeline and Compliance - Aja expects to file the Required Annual Filings on or before June 13, 2025 [3]. - Until the Required Annual Filings are submitted, the company will adhere to the Alternative Information Guidelines as outlined in National Policy 12-203 [5]. - As of the date of the news release, there are no insolvency proceedings against the company, and no material business developments have occurred since the last interim financial report [5].