OOOOO Provides Update on Status of Management Cease Trade Order
March 16 2023 - 7:23PM
OOOOO Entertainment Commerce Limited. (TSXV: OOOO)
("
OOOOO" or the "
Company") is
providing this update on the status of a management cease trade
order granted on March 1, 2023 (the "
MCTO") by the
British Columbia Securities Commission under National Policy 12-203
– Management Cease Trade Orders ("
NP 12-203"). On
March 1 2023, the Company announced that, for reasons disclosed in
the news release, there would be a delay in the filing of its
financial statements and accompanying management’s discussion and
analysis for the fiscal year ended October 31, 2022 (the
"
Annual Filings") beyond the period prescribed
under applicable Canadian securities laws (the "
Default
Announcement").
The Company reports that it anticipates filing
the Annual Filings on or before March 23, 2023. Further updates on
timing will be provided by the Company as necessary.
During the MCTO, the general investing public
will continue to be able to trade in the Company's listed
subordinate voting shares. However, the Company's Chief Executive
Officer and Chief Financial Officer will not be able to trade in
the Company's securities.
Other than as disclosed in this news release,
there are no material changes to the information contained in the
Default Announcement. The Company confirms that it intends to
satisfy the provisions of NP 12-203 and will continue to issue
bi-weekly default status reports for so long as it remains in
default of the Annual Filings requirement.
About OOOOO
Founded by Sam Jones and Eric Zhang, OOOOO
operates a technology platform that enables retailers, brands and
entrepreneurs to share product-based content directly to consumers
through live, interactive shoppable videos.
For further information please
contact:
Samuel Jones. Chief Executive Officer/Co-Founder
(604)-265-0771 sam@ooooo.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATIONS SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Information:
This press release contains certain forward-looking information
that reflects the current views and/or expectations of the Company
with respect to its performance, business and future events,
including, without limitation, statements relating to the timing
and completion of necessary accounting and review procedures to
complete the Annual Filings. Statements constituting
forward-looking information are not guarantees of future
performance and involve risks, uncertainties and assumptions which
are difficult to predict. Investors are cautioned that all
forward-looking information involves risks and uncertainties,
including: that the Company will be subject to additional delays in
the filing of its Annual Filings, which could result in additional
sanctioning action by applicable securities regulators; and other
risks and uncertainties listed in the Company's public filings.
These risks, as well as others, could cause actual results and
events to vary significantly. Accordingly, readers should not place
undue reliance on forward-looking information, which is qualified
in their entirety by this cautionary statement. There can be no
assurance that forward-looking information, or the material factors
or assumptions used to develop such forward-looking information,
will prove to be accurate. The Company does not undertake any
obligations to release publicly any revisions for updating any
voluntary forward-looking information, except as required by
applicable securities law.
OOOOO Entertainment Comm... (TSXV:OOOO)
Historical Stock Chart
From Jun 2024 to Jul 2024
OOOOO Entertainment Comm... (TSXV:OOOO)
Historical Stock Chart
From Jul 2023 to Jul 2024