RE:Arrow Directors All Resign...????CNE has been moving lower since common directors of this company had their other oil company suspended by the ASC and issued a CTO. An algo trading system may have picked up on this info and started selling CNE?
Both Charle Gamba and David Winter are directors of Horizon Petroleum HPL where the CFO jumped ship a few weeks before the company getting suspended. What do you guys make of this and is there a chance of this happening to CNE?
Horizon Petroleum suspended by ASC
2020-01-07 16:59 ET - Cease Trade/Suspend Company
A cease trade order was issued by the Alberta Securities Commission on Jan. 6, 2020, against Horizon Petroleum Ltd., for failing to file its annual audited financial statements, annual management's discussion and analysis, and certification of the annual filings for the year ended Aug. 31, 2019.
Upon revocation of the cease trade order, the company's shares will remain suspended until the company meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of the company during the period of the suspension or until further notice.
Horizon Petroleum's interim CFO, director resigns
2019-11-13 07:47 ET - News Release
Dr. David Winter reports
HORIZON ANNOUNCES MANAGEMENT AND BOARD CHANGE
Horizon Petroleum Ltd.'s board of directors has accepted Matt Janisch's resignation from his role as interim CFO (chief financial officer) and director effective Nov. 1, 2019. The company gives its best wishes to Mr. Janisch in his future endeavours. He will continue to provide advisory services to the company as needed. The company will initiate a search for a new chief financial officer.
David Winter, chief executive officer and president of Horizon, said, "We would like to thank Matt for his efforts towards our qualification in Poland and closing the acquisition of the Polish assets, we wish him every success in his future endeavours."
About Horizon Petroleum Ltd.
Calgary-based Horizon is focused on the appraisal and development of conventional oil and natural gas resources onshore Europe.