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Aion Therapeutic announces that the British Columbia Securities Commission (BCSC) has revoked the management cease trade order (MCTO) that was previously granted on August 29, 2024. The MCTO was initially issued due to delays in filing the company’s annual financial statements for the year ended April 30, 2024, along with related documents. The delay was attributed to complexities from the Toppen Health, Inc. acquisition on December 15, 2023. The company also experienced delays in filing its interim financial statements for the three months ended July 31, 2024. The MCTO was revoked after Aion successfully filed both the Annual and Interim Filings on November 4 and November 8, 2024, respectively.
Aion Therapeutic annuncia che la Commissione per i Titoli della Columbia Britannica (BCSC) ha revocato l’ordine di cessazione del commercio per la gestione (MCTO) precedentemente concesso il 29 agosto 2024. L’MCTO era stato emesso inizialmente a causa dei ritardi nella presentazione dei bilanci annuali dell’azienda per l’anno conclusosi il 30 aprile 2024, insieme ai documenti correlati. Il ritardo era attribuito alle complessità derivanti dall’ avvenuta il 15 dicembre 2023. L’azienda ha inoltre registrato ritardi nella presentazione dei bilanci consolidati per i tre mesi terminati il 31 luglio 2024. L’MCTO è stato revocato dopo che Aion ha presentato con successo sia i bilanci annuali sia quelli intermedi il 4 novembre e l’8 novembre 2024, rispettivamente.
Aion Therapeutic anuncia que la Comisión de Valores de Columbia Británica (BCSC) ha revocado la orden de cesación de comercio de gestión (MCTO) que fue otorgada previamente el 29 de agosto de 2024. La MCTO se emitió inicialmente debido a retrasos en la presentación de los estados financieros anuales de la empresa para el año que finalizó el 30 de abril de 2024, junto con documentos relacionados. El retraso se atribuyó a las complejidades derivadas de la adquisición de Toppen Health, Inc. el 15 de diciembre de 2023. La empresa también experimentó retrasos en la presentación de sus estados financieros interinos para los tres meses que finalizaron el 31 de julio de 2024. La MCTO fue revocada después de que Aion presentara con éxito tanto los informes anuales como los interinos el 4 y el 8 de noviembre de 2024, respectivamente.
Aion Therapeutic은 브리티시컬럼비아증권위원회(BCSC)가 2024년 8월 29일에 이전에 부여한 경영 중단 거래 명령(MCTO)을 철회했다고 발표했습니다. MCTO는 2024년 4월 30일에 종료된 회계연도에 대한 회사의 연간 재무제표와 관련 문서 제출 지연으로 인해 처음 발행되었습니다. 이 지연은 2023년 12월 15일의 Toppen Health, Inc. 인수에서 발생한 복잡성 때문이었습니다. 회사는 또한 2024년 7월 31일에 종료된 3개월 동안의 임시 재무 제표 제출에 지연을 겪었습니다. Aion은 2024년 11월 4일과 11월 8일에 각각 연간 및 임시 제출을 성공적으로 완료한 후 MCTO가 철회되었습니다.
Aion Therapeutic annonce que la Commission des valeurs mobilières de Colombie-Britannique (BCSC) a révoqué l’ordre de cessation de négociation pour la direction (MCTO) qui avait été accordé précédemment le 29 août 2024. Le MCTO a été initialement émis en raison de retards dans le dépôt des états financiers annuels de la société pour l’année se terminant le 30 avril 2024, ainsi que des documents connexes. Le retard a été attribué aux complexités de l’acquisition de Toppen Health, Inc. le 15 décembre 2023. L’entreprise a également connu des retards dans le dépôt de ses états financiers intermédiaires pour les trois mois se terminant le 31 juillet 2024. Le MCTO a été révoqué après qu’Aion a réussi à déposer à la fois les états financiers annuels et intermédiaires les 4 et 8 novembre 2024, respectivement.
Aion Therapeutic gibt bekannt, dass die Wertpapierkommission von British Columbia (BCSC) die zuvor am 29. August 2024 erlassene Handelsstoppanordnung (MCTO) aufgehoben hat. Die MCTO wurde zunächst aufgrund von Verzögerungen bei der Einreichung der Jahresabschlüsse des Unternehmens für das zum 30. April 2024 geendete Jahr sowie entsprechender Dokumente erlassen. Die Verzögerung wurde auf die Komplexitäten der Übernahme von Toppen Health, Inc. am 15. Dezember 2023 zurückgeführt. Das Unternehmen erlebte auch Verzögerungen bei der Einreichung seiner Zwischenabschlüsse für die drei Monate, die am 31. Juli 2024 endeten. Die MCTO wurde aufgehoben, nachdem Aion am 4. und 8. November 2024 erfolgreich sowohl die Jahres- als auch die Zwischenberichte eingereicht hatte.
Positive
- Resolution of regulatory compliance issues with BCSC through successful filing of financial statements
- Removal of management cease trade order restriction
Negative
- Delayed filing of annual and interim financial statements indicating potential internal control or reporting challenges
Toronto, Ontario–(Newsfile Corp. – November 13, 2024) – Aion Therapeutic Inc. (CSE: AION) (“Aion Therapeutic” or the “Company“) is pleased to announce that it has received an order from the British Columbia Securities Commission (the “BCSC“) revoking the management cease trade order (the “MCTO“) previously granted by the BCSC on August 29, 2024.
As previously announced, the MCTO was granted by the BCSC at the Company’s request on August 29, 2024, due to delays in filing the Company’s annual audited consolidated financial statements for the financial year ended April 30, 2024, the related annual management’s discussion and analysis and the related CEO and CFO certifications (collectively, the “Annual Filings“). The Annual Filings were delayed as a result of certain complexities associated with the acquisition of Toppen Health, Inc. on December 15, 2023.
As a result of the delay in completing the Annual Filings, the Company was also late in the filing of its unaudited condensed interim consolidated financial statements, management’s discussion and analysis and related materials for the three-months ended July 31, 2024 (the “Interim Filings“).
The BCSC has revoked the MCTO as the Annual Filings and Interim Filings were filed by the Company on November 4, 2024 and November 8, 2024 respectively. Copies of the Annual Filings and the Interim Filings are available on the Company’s SEDAR+ profile at www.sedarplus.ca.
About Aion Therapeutic Inc.
Aion Therapeutic is a forward-thinking business within the health and wellness sector with a diverse portfolio of intellectual property. With a commitment to innovation and transformative solutions, the Company is poised to drive positive change to redefine the boundaries of health and wellness.
Toppen, a wholly-owned subsidiary of Aion Therapeutic, is a US-based health and wellness company dedicated to delivering state-of-the-art water filtration solutions. With a focus on innovation, affordability, and sustainability, Toppen’s water filtration solutions are designed to meet the diverse needs of consumers, businesses, and industries around the world as they strive to provide access to clean and safe water.
For further information, please contact:
DISCLAIMER & READER ADVISORY
This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as “anticipates”, “expects”, “believes”, “estimates”, “could”, “intends”, “may”, “plans”, “predicts”, “projects”, “will”, “would” and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward looking statements in this press release include statements regarding: Aion Therapeutic and Toppen’s business, business goals and management’s expectation on the growth and performance of its business. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229877
FAQ
When did the BCSC revoke Aion Therapeutic’s (ANTCF) management cease trade order?
The BCSC revoked Aion Therapeutic’s management cease trade order on November 13, 2024, after the company filed its required financial statements.
What caused Aion Therapeutic’s (ANTCF) filing delays in 2024?
The filing delays were caused by complexities associated with the acquisition of Toppen Health, Inc. on December 15, 2023.
When did Aion Therapeutic (ANTCF) submit its delayed Annual and Interim Filings?
Aion Therapeutic submitted its Annual Filings on November 4, 2024, and its Interim Filings on November 8, 2024.
