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Centaurus Energy Announces Revocation of Cease Trade Order and Reinstatement to Trading
Newsfileยท 2025-10-09 17:07
Core Points - Centaurus Energy Inc. has had its cease trade order revoked by the Alberta Securities Commission, allowing for the reinstatement of its shares for trading [1][3] - The cease trade order was initially issued due to delays in filing audited annual financial statements for the year ended December 31, 2024 [1][2] - The company has completed its annual filings and has also published financial results for the first and second quarters of 2025 [2] Business Change Update - Centaurus Energy has received conditional acceptance from the TSX Venture Exchange for its proposed change of business from a Tier 2 Oil & Gas Issuer to a Tier 2 Investment Issuer [4][5] - Shareholders approved the change of business and the name change to "Layer One Inc." during a meeting held on February 26, 2025 [5] - The company is working to meet the conditions required for the acceptance of the change, including securing a minimum financing of USD 5 million [6] Financial Position - As of June 30, 2025, the company reported a working capital deficiency of approximately USD 4.9 million [6] - The proceeds from the anticipated financing will be used to address this deficiency and to invest in digital assets [6][7] - Centaurus Energy is focused on investing in digital commodities such as Ether and Solana [7]