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CORRECTION – Reeflex Solutions Inc. Announces Delay in Filing Annual Financial Statements, Intent to Restate Quarterly Financial Statements and Application for Management Cease Trade Order
Globenewswire· 2025-12-18 01:39
Core Viewpoint - Reeflex Solutions Inc. is unable to meet the December 29, 2025 filing deadline for its audited annual financial statements due to the complexity of transitioning to an IFRS-compliant public company following a reverse takeover and acquisition [1][2] Group 1: Filing Delays and Restatements - The company intends to restate its interim financial statements for the quarter ended May 31, 2025, to reflect results only from the acquisition date of May 15, 2025, in accordance with IFRS [2] - The timeline for completing the audit and preparing the annual filings has been extended due to first-time public company audit requirements [2][3] Group 2: Management Cease Trade Order (MCTO) - The company has applied for a Management Cease Trade Order (MCTO) from the Alberta Securities Commission, which would restrict the CEO and CFO from trading in the company's securities until the required filings are made [4] - The MCTO will not affect the general investing public's ability to trade in the company's common shares [4] Group 3: Operational Performance - The restatement of the Q3 filings is technical and does not impact the company's core operations, customer relationships, or business momentum [6] - The company continues to execute on manufacturing and international growth initiatives, including receiving $2.6 million in purchase orders for products in Saudi Arabia and a $3.4 million contract for product design and manufacturing [6]
Reeflex Solutions Inc. Announces Continuance Into Alberta
Globenewswire· 2025-10-29 11:00
Core Points - Reeflex Solutions Inc. has successfully continued its operations from Ontario to Alberta under the Business Corporations Act (Alberta) [1] - Shareholders approved the continuance during the Annual and Special Meeting held on August 29, 2025 [1] - The company has updated its articles and bylaws in accordance with the ABCA, while the CUSIP/ISIN numbers and stock symbol remain unchanged [2] - The TSX Venture Exchange has granted final approval for the continuance [2] Company Overview - Reeflex Solutions Inc. is a Canadian company providing advanced engineering and manufacturing solutions across various sectors [3] - The company operates through its subsidiary, Coil Solutions Inc., which offers coiled tubing injectors and downhole tools for the oil and gas industry [3] - The manufacturing division, Ranglar Manufacturing, specializes in custom-designed mobile equipment for diverse industrial applications [3]
Reeflex Solutions Inc. Renews and Expands International Distribution Agreement With GOES GmbH
Globenewswire· 2025-08-14 11:00
Core Points - Reeflex Solutions Inc. has renewed and expanded its distribution agreement with GOES GmbH, enhancing its market presence in Europe and select regions in Eurasia and South Asia [1][2][3] - The agreement grants GOES exclusive rights for sales and service of Coil Solutions Inc. products in the specified territories, along with continued technical support and collaboration [2][3] - The renewed agreement is effective for 24 months, indicating a strong partnership and commitment to delivering reliable equipment solutions [3] Company Overview - Reeflex Solutions Inc. operates through its subsidiary, Coil Solutions Inc., which specializes in coiled tubing injectors and downhole tools for the oil and gas sector [5] - GOES GmbH is a prominent European manufacturer of pumping and stimulation equipment for the oil and gas industry, providing a range of services including hydraulic fracturing and drilling [4]