Toronto, Ontario--(Newsfile Corp. - July 18, 2023) - Tony G Co-Investment Holdings Ltd. (CSE: TONY) (the "Company") is pleased to announce that on July 18, 2023, staff of the Ontario Securities Commission (the "Commission") granted a full revocation of the failure-to-file cease trade order ("FFCTO") that was previously issued against the Company on June 6, 2022.
Continuous Disclosure Filings
The FFCTO was issued as a result of the Company's failure to file the following continuous disclosure materials within the timeframe stipulated by the applicable legislation:
- audited annual financial statements for the year ended January 31, 2022;
- management's discussion and analysis relating to the audited annual financial statements for the year ended January 31, 2022; and
- certification of the foregoing filings as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings ("NI 52-109")
(collectively, the "2022 Annual Filings").
Subsequent to the issuance of the FFCTO, the Company also failed to file, within the timeframe stipulated by the applicable legislation:
- interim financial reports for the interim periods ended April 30, 2022, October 31, 2022 and April 30, 2023;
- related interim management's discussion and analysis for the interim periods ended April 30, 2022, October 31, 2022 and April 30, 2023;
- audited annual financial statements for the year ended January 31, 2023;
- management's discussion and analysis relating to the audited annual financial statements for the year ended January 31, 2023;
- certification of the foregoing filings as required by NI 52-109; and
- statement of executive compensation for the year ended January 31, 2022
(collectively, the "Additional Required Filings").
The Company has remedied these defaults by filing the 2022 Annual Filings and the Additional Required Filings, and copies are available under the Company's SEDAR profile at www.sedar.com. Based on comments from staff of the Commission, on July 17, 2023 the Company has also revised and re-filed its management's discussion and analysis for the year ended January 31, 2022 and the interim periods ended April 30, 2022 and July 31, 2022, and copies are available under the Company's SEDAR profile at www.sedar.com.
Additionally, as a condition of revoking the FFCTO, the Company provided an undertaking to staff of the Commission that: (i) it will hold an annual meeting of shareholders within three months after the dates on which the FFCTO is revoked, and (ii) it will not complete a restructuring transaction, significant acquisition or reverse takeover of a business not located in Canada unless the Company first receives a receipt for a final prospectus in respect of such business.
For more information, please contact:
Gediminas Klepackas
Chief Executive Officer
Tel: +370 677 73470
Email: gk@tony.holdings
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/173987
