As a result, the Company is expected to be noted in default by the applicable Canadian securities regulatory authorities and expects that the
The Company had made application(s) to the OSC for a management cease trade order (the "MCTO") under National Policy 12-203 – Management Cease
The CTO will remain in effect until such time as it is revoked following the filing by the Company of the Annual Filings. There can be no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. Shareholders of the Company may suffer a decline or loss in value of their investment in the shares of common stock of the Company as a result.
About
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information relating to the delay of the Annual Filings, the expected filing date of the Annual Filings, and the issuance of a CTO against the Company.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the expectations of Stem's management concerning future results or events based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Stem believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Stem does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
No securities regulatory authority has in any way passed upon the merits of the proposed transactions described in this news release or has approved or disapproved of the contents of this news release.
Media Contact:
Director of Public Relations
561-948-5410
Regina.costa@stemholdings.com
Source:
2024 GlobeNewswire, Inc., source