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VANCOUVER, British Columbia, Feb. 25, 2025 (GLOBE NEWSWIRE) — Western Resources Corp. (TSX: WRX) (“Western Resources” or the “Company“) is providing this bi-weekly update on the status of the management cease trade order issued on January 2, 2025 (“MCTO”), by its principal regulator, the British Columbia Securities Commission “the “BCSC”), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“).
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As previously announced on December 17, 2024 (the “Original Announcement”), the Company applied for the MCTO due to a delay in filing its annual information form, audited annual financial statements and related management’s discussion and analysis, and certifications for the financial year ended September 30, 2024 (the “Required Filings“). Due to the continued financial hardships, the Company will not be able to file the Required Finings by February 28, 2025. We expect that the BCSC will issue a failure-to-file cease trade order (the “CTO”) on or after February 28, 2025. While the CTO is in effect, a person or company must not trade in a security of the Company, except in accordance with the conditions, if any, contained in the order.
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The Company confirms that since the date of the Original Announcement, (a) there have been no material changes to the information contained in the Original Announcement that would reasonably be expected to be material to an investor, (b) there have been no failures by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines as set out in NP 12-203, (c) there has not been, nor is there anticipated to be, any other specified default subsequent to the default which is the subject of the Original Announcement, and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
“Wenye Xue”
CEO and Director
For Further Information Contact:
Xiao Xing
E: xiao@westernresources.com.
P: 306-924 9378
Cautions Regarding Forward-Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.
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