Friday, May 19, 2023 5:28:00 PM
On March 22, 2023, and as further updated on April 3, 2023, April 17, 2023, May 1, 2023 and May 15, 2023, the Company announced (the “Default Announcement”) that under National Policy 12-203 Management Cease Trade Orders it had applied to the Ontario Securities Commission (the “OSC”) requesting a management cease trade order (“MCTO”) be imposed in respect of the late filing of the Annual Filing Documents. The MCTO was granted by the OSC on April 3, 2023.
The MCTO restricts all trading in and all acquisitions of the securities of the Company, directly or indirectly, by the Chief Executive Officer and the Chief Financial Officer of the Company until two full business days following the receipt by the OSC of the Annual Filing Documents and any other filings the Company is required to make under Ontario securities laws, including the Q1 Filings, or upon the further order of the director of the OSC. The MCTO does not affect the ability of shareholders who are not named in the MCTO to trade their securities.
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