MCTO denied
Waterloo, ON - TheNewswire - April 27, 2023 - SponsorsOne Brands Inc., (CSE:SPO) (Frankfurt:5SO), (OTC:SPONF). SponsorsOne Inc. (“SPO” or the “Company”) today announced that it will not meet the following filing deadlines:
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Audited Annual Financial Statements and Management Discussion and Analysis for the year ended December 31, 2022 due on or before May 1, 2023 (the “Annual Filings”);
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Management prepared Financial Statements and Management Discussion and Analysis for the quarter ended March 31, 2023 due on or before May 30 2023 (the “Q1 Filings”); and
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CEO and CFO certificates relating thereto;
SPO does not expect to be able to meet these filing deadlines but its internal audit work has commenced and it now expects to complete the Annual Filings by July 3, 2023 and the Q1 filings by July 31, 2023.
Financial conditions and auditor availability impacted the Corporations ability to prepare for, and pay for, its Annual Financial Statements and Annual MD&A.
SPO made an application to the Ontario Securities Commission to approve a temporary management cease trade order ("MCTO") under NP 12-203, which was denied.
Other than as previously disclosed and the contents hereof, there is no material information of the Corporation which has not been disclosed by timely press releases.