TORONTO, Aug. 16,
2024 /CNW/ - Further to its announcement on
August 14, 2024 that a failure to
file cease trade order ("FFCTO") from the Ontario Securities
Commission (the "OSC") was impending, Chesswood Group
Limited (the "Company") announces that the OSC issued the
FFCTO after market close on August 15,
2024.
The Company is continuing to work with its auditors to complete
the work necessary in order to be in the position to finalize and
file the required financial statements, MD&A and certifications
to have the FFCTO lifted, and will provide updates as further
information becomes available and as required.
ABOUT CHESSWOOD GROUP LIMITED
Chesswood Group Limited is a Toronto,
Canada based holding company whose subsidiaries engage in
the business of specialty finance (including equipment finance in
the U.S. and vehicle finance and legal sector finance in
Canada), as well as the
origination and management of private credit alternatives for North
American investors. Our shares trade on the Toronto Stock Exchange
(under the symbol CHW).
For information on Chesswood Group
Limited and its operating subsidiaries:
www.ChesswoodGroup.com
www.PawneeLeasing.com
www.TandemFinance.com
www.Rifco.net
www.WaypointInvestmentPartners.com
www.EasyLegal.ca
FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements in this press release may include, but are not limited
to, statements relating to the FFCTO, the ongoing efforts to
complete the work necessary to be in a position to make the
curative filings, the provision of updates as further information
becomes available and as required, and other statements that are
not material facts. Forward-looking statements are typically
identified by words such as "believe", "expect", "anticipate",
"project", "intend", "plan", "will", "may", "estimate" and other
similar expressions or the negative of these words or variations of
them or similar expressions.
Although the Company believes that the forward-looking
statements in this press release are based on information and
assumptions that are current, reasonable and complete, these
statements are by their nature subject to a number of factors,
risks and uncertainties, both general and specific in nature, that
could cause actual results to differ materially form those
expressed or implied by these forward-looking statements,
including, without limitation, the risks and uncertainties arising
from any continuing delay in making required filings, the
possibility that the work required to be undertaken to be in a
position to make the curative filings may take longer than
expected, and other risks and uncertainties related to the
Company's ongoing strategic review, financial restructuring and
credit facility action plan. The Company cautions that the
foregoing assumptions and factors are not exhaustive and other
factors could also adversely affect its results. For more
information on the risks, uncertainties and assumptions that could
cause the Company's actual results to differ from current
expectations, please refer to the Company's publicly filed
documents, including news releases, the Company's annual
information form and management's discussion and analysis of
financial condition and performance, which are available
electronically at www.sedarplus.ca.
Unless otherwise noted or the context otherwise indicates, the
forward-looking statements contained in this press release describe
the Company's expectations as at the date of this press release
and, accordingly are subject to change after such date. Except as
may be required by applicable securities laws, the Company does not
undertake any obligation to update or revise any forward-looking
statements contained in this press release, whether as a result of
new information, future events or otherwise. Readers are cautioned
not to place undue reliance on these forward-looking
statements.
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED
HEREIN.
SOURCE Chesswood Group Limited
