OOOOO Provides Update On Status Of Management Cease Trade Order
Date
3/16/2023 8:31:06 PM
(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, March 16, 2023 (GLOBE NEWSWIRE) -- 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.
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