Mr. Richard Goldstein reports
CANNTAB THERAPEUTICS LIMITED PROVIDES UPDATE ON APPLICATION FOR MANAGEMENT CEASE TRADE ORDER
The Ontario Securities Commission (OSC) has rejected Canntab Therapeutics Ltd.'s application for a management cease trade order (MCTO) dated Sept. 14, 2023, as the corporation is not viewed as having met all of the criteria for an MCTO.
The corporation filed the MCTO application with the OSC due to an anticipated delay in filing its audited annual financial statements and management discussion and analysis for the financial year ended May 31, 2023, and the certification of the foregoing filings as required by National Instrument 52-109 (Certification of Disclosure in Issuers' Annual and Interim Filings). The documents are required to be filed by Sept. 28, 2023. If the documents are not filed by the filing deadline, the corporation anticipates the imposition by the OSC of a failure-to-file cease trade order (FFCTO).
The default is anticipated due to its difficulty in raising capital to pay the auditor, which was caused by challenging market conditions.
We seek Safe Harbor.
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