Update 2/17/ 2023 LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) is providing a bi-weekly default status update in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”)
In a press release dated December 21, 2022, the Company announced (the “Default Announcement”) that it submitted an application to the British Columbia Securities Commission (the “BCSC”), the Company’s principal regulator, for a management cease trade order (“MCTO”) in connection with the Company’s delay in filing its audited annual financial statements for the year ended August 31, 2022, and the management’s discussion and analysis and related CEO and CFO certificates for the period (collectively, the “Required Documents”) which were required to be filed on or before December 29, 2022.
The MCTO was issued by the BCSC on January 4, 2023. It prevents the Company’s President and Chief Financial Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the public, to trade in the securities of the Company. The MCTO remains in effect until the Company files the Required Documents and the BCSC’s Executive Director has revoked the MCTO. The Company anticipates that it will file the Required Documents on or before February 28, 2023.