SOP Receives Cease Trade Order
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MISSISSAUGA, Ontario, April 08, 2021 (GLOBE NEWSWIRE) -- SOPerior Fertilizer Corp. (the "Company" or “SOP”) reports that the Ontario Securities Commission has issued a Failure to File Cease Trade Order (the "Cease Trade Order") against the Company and its securities.
The Order ceases all trading in the securities of the Company in all provinces where the Company is a reporting issuer and in which Multilateral Instrument 11-103 – Failure-to-File Cease Trade Orders in Multiple Jurisdictions applies. However, holders of securities who are not participating in the control of the Company or who are not insiders of the Company may trade in the securities provided the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation and through an "foreign organized regulated market", as defined in Section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada (IIROC). The Order will remain in effect until the Company files its annual financial materials.
While the Company is currently a registered issuer on the NEX Board of the Toronto Venture Exchange, it was listed on the Toronto Stock Exchange at December 31, 2020. The Company failed to file its annual financial statements for the year ended December 31, 2020, the related management discussion and analysis, annual information form and the certifications of annual filings by March 31, 2021 as is required for a Toronto Stock Exchange issuer.
The Company continues to work closely with its auditor and expects to file the 2020 Annual Financial Statements and other annual filings as soon as possible. Once the 2020 annual filings are finalized, the Company will seek to have the Cease Trade Order revoked.
On Behalf of the Board of Directors
SOPERIOR FERTILIZER CORP.
Chief Executive Officer
NEITHER THE TORONTO STOCK EXCHANGE, NEX OR THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in policies of the TSX Venture Exchange) ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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