PEI VOLUME BROKER CHART ANONYMOUS SHOULD GET US TO @.10BY Wednesday 15th................
2022-06-09 13:20 ET - News Release | Recent Trades - Last 10 of 183 |
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Mr. Chris Ludtke reports
PROSPERA PROVIDES AMENDED SECOND STATUS UPDATE
Prospera Energy Inc. wishes to provide an update and amend its second biweekly status report that was issued on May 31, 2022, under National Policy 12-203 Management Cease Trade Orders, pursuant to which Prospera issued its original default announcement indicating that the filing of its annual audited financial statements, annual management's discussion and analysis, and related chief executive officer and chief financial officer certifications for the year ended Dec. 31, 2021, would be delayed beyond the filing deadline of April 30, 2022. Prospera reports that since issuing the original default announcement on May 3, 2022, and the second default announcement on May 31, 2022, there have been no material changes to the information contained therein that has not been disclosed, nor any failure by Prospera to fulfill its intentions as stated therein, other than as set forth below.
As a result of circumstances reasonably linked to the corporation's delay in filing the required disclosure, in addition to the default to which this default status report relates, the corporation did not meet the deadline for filing its interim unaudited financial statements, interim management's discussion and analysis, and related CEO and CFO certifications for the three-month period ended March 31, 2022. As a result of the corporation's delay in preparing the required disclosure, the interim filings could not be properly completed in accordance with Canadian securities law and regulation. Under the securities laws of the provinces in which Prospera is a reporting issuer, the interim filings were to be filed by May 30, 2022.
The corporation's board of directors and management confirm that the audit is continuing and that they are working expeditiously to meet the corporation's obligations related to the filing of the required disclosure and the interim filings. As a result of continuing work with respect to the audit, the corporation now expects to be in a position to file the required disclosure and the interim filings by June 15, 2022, not June 30, 2022, as previously disclosed in its second default announcement issued on May 31, 2022.
Until the required documents have been filed, the corporation intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing biweekly default status reports in the form of further press releases for so long as the corporation remains in default of the financial statement filing requirement. In the event that the corporation does not file the required documents in a timely manner, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the corporation.
About Prospera
Prospera is a Canadian natural resource company engaged in the acquisition, exploration, development and production of oil and gas properties with operations in Alberta and western Saskatchewan.