Vancouver January 30, 2024 – XTACY THERAPEUTICS CORP. (CSE: XTCY) (Frankfurt: O3X4) (OTCQB: XTCYF) (“Xtacy Therapeutics” or the “Company”) announces today a Management Cease Trade Order (‘MCTO’) and that it has missed its filing deadline of January 29, 2024, to file its audited annual financial statements and accompanying management’s discussion and analysis and related CEO and CFO certificates for the year ended September 30, 2023 (collectively, the “Annual Filings”), as required under applicable Canadian securities laws.
In connection with the Company’s inability to file the Annual Filings on time, the Company has been approved for a Management Cease Trade Order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) by the British Columbia Securities Commission. The Company appliedfor the MCTO as a result of complexities caused pursuant to being able to obtain records for the audit from overseas subsidiaries. firms. This has impacted the Company’s ability to complete its audited annual financial statements and has consequently caused a delay in completion of the Annual Filings. The Company remains confident in its ability to complete its 2023 Filings, and it anticipates it will require approximately four additional weeks to complete the process. The Company is coordinating specific tasks to be completed on a daily basis and will use its best efforts to complete the process within this timeline.
The Company expects to file the Annual Filings as soon as they are available, but is looking at completion by or on February 28, 2024.
Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, the Company’s Chief Executive Officer and Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities will not be able to trade in the Company’s shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted.
The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Xtacy Therapeutics Corp.:
Xtacy Therapeutics Corp. is a prospect generator that provides high growth companies with financial, operational, and management assistance in the fast growing market for wellness consumer products. The focus of the Company is on global wellness, psychedelics, mycology, hemp and CBD, healthcare-related target companies.
For further information visit websites:
www.xtacytherapeutics.com
Or Contact Meris Kott CEO 604.484.0355 or email to [email protected]
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, its financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
