Stockwatch

Ostrom Climate Solutions Inc
Symbol	COO
Shares Issued	78,235,171
Close 2023-05-03	C$ 0.08
Market Cap	C$ 6,258,814
Recent Sedar Documents

Ostrom to be late filing 2022 results, receives MCTO

2023-05-03 11:33 ET - News Release

Rokoss Subject: Press Release/News Attached for Distribution on Stockwatch.com PDF Document File: Attachment COO - MCTOIssuance - 05022023 - FINAL.pdf Ostrom Climate Solutions Inc. News Release May 2, 2023 OSTROM RECEIVES MANAGEMENT CEASE TRADE ORDER RELATED TO FILING OF FINANCIAL STATEMENTS AND MD&A May 2, 2023, Vancouver, British Columbia: Ostrom Climate Solutions Inc. (the "Company") (TSX-V: COO, Frankfurt: 9EA) announces that the British Columbia Securities Commission has issued to the Company a Management Cease Trade Order ("MCTO") under National Policy 12-203 Management Cease Trade Orders ("NP 12-203") as the Company was not able to file its annual consolidated financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2022 (collectively, the "Annual Filings") within the 120 day period prescribed for the filing of such documents under Parts 4 and 5 of National Instrument 51-102 and Part 4 of National Instrument 52-109. In the normal course of the current audit, it was made known to the Company that staffing limitations being faced by the Company resulted in the auditors not having sufficient time to complete the audit. The Company expects that the Annual Filings will be filed on or before June 1, 2023. During the period in which the MCTO is effective, the Company will comply with the alternative information guidelines set out in NP 12-203, including issuance of bi-weekly default status reports, in the form of news releases; and the general investing public, who are not insiders of the Company, will continue to be able to trade in the Company's listed common shares. The Company's CEO and CFO will not be able to trade the Company's common shares until such time as the Annual Filings have been filed by the Company and the MCTO has been revoked. The Company's board of directors and its management confirm that they are working expeditiously with the auditors to meet the Company's obligations. The Company confirms that there is no other material information concerning the affairs of the Company that have not been generally disclosed as of the date of this news release and that there are no insolvency proceedings against it as of the date of this news release. Phil Cull CEO Ostrom Climate Solutions Inc. About Ostrom Climate Solutions Inc. Ostrom Climate specializes in advisory, technology, and project investment services applied to sustainable commodities and ecological assets, with a primary focus on carbon. We help organizations understand, reduce, and offset their climate impact and provide our customers with a multidisciplinary approach to managing risk, enhancing asset performance, and securing commercial returns. While managing climate change risk, we improve livelihoods and sustainability in project regions. Based out of Vancouver, British Columbia, our team has a global reach. We have worked with over 200 leading business organizations. Ostrom Climate is a publicly listed company on the Toronto Venture Exchange (TSX-V:COO) and in Frankfurt:9EA. Please visit us at www.ostromclimate.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release. Forward Looking Statements This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the anticipated terms of any proposed transaction or engagement. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Furthermore, the Company is presently unable to fully quantify the impact that the Covid-19 pandemic will have on its operations and recognizes that certain eventualities may affect planned or assumed performance moving forward. Negative impacts, such as limitations on our employees' ability to travel to international project sites or our customer's inability to perform to expectation as a result of the pandemic may result in outcomes that are different than those currently expected. As such, any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws. For more information regrading the Company, please contact: David Rokoss Ostrom Climate Solutions Inc. Suite 300 948 Homer Street, Vancouver BC, V6B 2W7 Telephone: 604-760-1997 Email: david.rokoss@ostromclimate.com