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NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
VANCOUVER, BC, July 15, 2022 /CNW/ – Sproutly Canada, Inc. (CSE:SPR) (OTCQB:SRUTF) (FSE: 38G) (“Sproutly” or the “Company“) announces that its application for a management cease trade order (“MCTO”), as previously announced in a news release dated June 27, 2022has been accepted by the British Columbia Securities Commission (the “BCSC”). The MCTO was issued by the BCSC, effective as of June 29, 2022in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended February 28, 2022 (collectively, the “Annual Filings”).
The Company continues to work closely with its auditor and expects to file the Annual Filings as soon as possible, but the completion of such Annual Filings was delayed as a result of complexities arising from the Companies’ Creditors Arrangement Act (Canada) (“CCAA“) filing of the Company’s subsidiaries, Toronto Herbal Remedies Inc. (“THR“) and Sproutly Inc. (“Holdco“), which impacted the Company’s ability to complete the Annual Filings. …
Full story available on Benzinga.com
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