Toronto, Ontario--(Newsfile Corp. - October 10, 2024) - Aion Therapeutic Inc. (CSE: AION) ("Aion Therapeutic" or the "Company") is providing this bi-weekly update on the status of its management cease trade order issued on August 29, 2024 (the "MCTO"), by its principal regulator, the British Columbia Securities Commission (the "BCSC"), under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company announced on August 14, 2024 (the "Default Announcement"), that it expected to be unable to file its annual audited consolidated financial statements for the financial year ended April 30, 2024, the related annual management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") by the filing deadline of August 28, 2024 (the "Filing Deadline") and last provided an update on the status of the MCTO on September 26, 2024.
As a result of the delay in filing the Annual Filings, the Company was unable to file its unaudited interim financial statements, related management's discussion and analysis and CEO and CFO certifications for the three months ended July 31, 2024 (the "Interim Filings", and together with the Annual Filings, the "Required Documents"). Under National Instrument 51-102 – Continuous Disclosure Obligations, the Interim Filings were required to be made no later than September 30, 2024.
As a result of certain complexities associated with the acquisition of Toppen Health, Inc. on December 15, 2023, the accounting and audit process remains ongoing at this time. The BCSC has given the Company until October 28, 2024 to complete its Annual Filings, which the Company anticipates being in a position to meet