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Clear Blue Technologies International Inc
Symbol CBLU
Shares Issued 124,021,237
Close 2024-05-01 C$ 0.06
Market Cap C$ 7,441,274
Recent Sedar Documents

Clear Blue receives management cease trade order

2024-05-01 17:18 ET - News Release

Ms. Miriam Tuerk reports

CLEAR BLUE TECHNOLOGIES ANNOUNCES ISSUANCE OF MANAGEMENT CEASE TRADE ORDER BY THE BCSC

Clear Blue Technologies International Inc. requires an additional two weeks to complete its audited financial results for 2023. During first quarter 2023, Clear Blue acquired eSite Power Systems AB, a telecom site power system provider located in Lidkoping, Sweden.

The completion of the audit for this transaction has created the need for additional time to complete the audit and release the full financial statements for Clear Blue for fiscal 2023. As a result, the company applied for a management cease trade order under National Policy 12-203 (Management Cease Trade Orders). An MCTO has been granted by the company's principal regulator, the B.C. Securities Commission.

The MCTO restricts trading in securities of the company by management of the company until such time as the annual filings have been filed by the company and the MCTO is no longer in effect. The MCTO does not affect the ability of shareholders to trade their securities, and the general investing public will continue to be able to trade in the company's common shares. However, the company's chief executive officer and chief financial officer will not be able to trade the company's common shares until such time as the annual filings have been filed and all continuous disclosure requirements have been satisfied by the company, and the MCTO has been revoked by the BCSC.

The company is working diligently with its auditor to complete the audit work and expects to release the fully audited financial statements and related documents on or before May 15, 2024. The company will issue a news release once the annual filings have been filed. The company confirms that it intends to satisfy the provisions of Section 4.4 of NP 12-203 and issue biweekly default status reports for so long as the company remains in default of the financial statement filing requirement. Such report will disclose any material changes to the information in this release, all actions taken by the company to remedy the default, particulars of any failure by the company to fulfill these provisions, any subsequent defaults of the company requiring a default announcement and any other material information concerning the affairs of the company not previously disclosed. The company is not be subject to any insolvency proceedings, nor is there any other material information concerning the affairs of the issuer that has not been generally disclosed.

About Clear Blue Technologies International Inc.

Clear Blue, the smart off-grid company, was founded on a vision of delivering clean, managed wireless power to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the United States and Canada.

We seek Safe Harbor.

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