Western Resources Corp. Receives Management Cease Trade Order
VANCOUVER, British Columbia, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Western Resources Corp. (TSX: WRX) ( "Western Resources " or the "Company ") announces that its principal regulator, the British Columbia Securities Commission, has granted the Company its request for a management cease trade order (“MCTO”) effective January 2, 2025.
As previously announced on December 17, 2024, 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 ").
The delay to file the Required Filings is due to continuing financial hardship the Company has been experiencing. The Company is working diligently to secure new investment as well as working with its auditor to ensure the filing of its Required Filings as soon as possible, currently expecting to be on or before February 28, 2025.
The MCTO restricts the Company 's insiders from all trading in securities of the Company until such time as the Required Filings have been filed by the Company and the MCTO is no longer in effect. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
Until the Company files the Required Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders.
"Wenye Xue "
CEO and Director
For Further Information Contact:
Ms. Xiao Xing, Corporate Secretary
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.
CONTACT: E: xiao@westernresources.com
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