VANCOUVER, BC, April 12, 2024 /CNW/ – PanGenomic Well being Inc. (“PanGenomic Well being” or the “Firm”) (CSE: NARA) pronounces that it has made an utility to the British Columbia Securities Fee to approve a administration stop commerce order (“MCTO”) underneath Nationwide Coverage 12-203 – Stop Commerce Orders for Steady Disclosure Defaults (“NP 12-203”), which, if granted, will prohibit the Chief Government Officer and Chief Monetary Officer of the Firm from buying and selling in securities of the Firm till such time because the Required Filings (outlined under) and all steady disclosure necessities have been filed by the Firm and the MCTO has been revoked. Throughout the interval through which the MCTO is efficient, most people will proceed to have the ability to commerce within the Firm’s listed securities. The MCTO utility has been made however there isn’t any assure or assurance that the MCTO will probably be granted.
The Firm expects that it will likely be unable to file its audited annual consolidated monetary statements for the monetary yr ended December 31, 2023 (the “Monetary Statements”) and the associated administration’s dialogue and evaluation and CEO and CFO certificates for a similar interval (collectively, with the Monetary Statements, the “Required Filings”) earlier than the submitting deadline of April 29, 2024 (the “Submitting Deadline”).
The Firm’s incapacity to make the Required Filings by the Submitting Deadline is because of delays within the Firm’s means to pay the excellent invoices and retainer of its auditors (the “Auditors”). The Firm is at present within the strategy of negotiating debt or fairness financing in an quantity enough to settle the quantities payable the Auditors. The Firm anticipates that it will likely be able to treatment the default by making the Required Filings on or earlier than June 29, 2024. The MCTO, if granted, will probably be in impact till the Required Filings are made.
The Firm will comply with the choice data pointers set out in Sections 9 and 10 of NP 12-203 so long as the Required Filings are excellent.
About PanGenomic Well being
PanGenomic Well being is a precision well being firm that has developed a self-care digital platform to ship personalised, evidence-based details about pure remedies. The Firm’s preliminary focus is to assist psychological well being. Registered as a British Columbia profit firm, PanGenomic Well being’s mission is to advertise and enhance the well being and wellness of individuals and society by offering a know-how platform that identifies plant-based options tailor-made to the well being profile of every particular person.
This information launch consists of sure statements that could be deemed “forward-looking statements”, together with statements respecting the providers to be supplied by PanGenomic Well being and the consideration to be paid to PanGenomic Well being. The usage of any of the phrases “anticipate”, “proceed”, “estimate”, “count on”, “might”, “will”, “would”, “mission”, “ought to”, “consider” and related expressions are supposed to determine ahead wanting statements. Though PanGenomic Well being believes that the expectations and assumptions on which the forward-looking statements are based mostly are affordable, undue reliance shouldn’t be positioned on the forward-looking statements as a result of PanGenomic Well being may give no assurance that they may show to be right. Since forward-looking statements deal with future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. These statements converse solely as of the date of this Information Launch. Precise outcomes may differ materially from these at present anticipated because of quite a few elements and dangers together with numerous threat elements mentioned in PanGenomic Well being’s disclosure paperwork which might be discovered underneath PanGenomic Well being’s profile on www.sedarplus.ca.
The Canadian Securities Alternate has neither authorized nor disapproved the knowledge contained herein and doesn’t settle for accountability for the adequacy or accuracy of this information launch.
SOURCE PanGenomic Well being Inc.
View authentic content material to obtain multimedia: http://www.newswire.ca/en/releases/archive/April2024/12/c7203.html