Latest news with #NP12-203
Cision Canada
23-06-2025
- Business
- Cision Canada
Frontenac Mortgage Investment Corporation Provides Bi-Weekly Update on Outstanding Filings
OTTAWA, ON, June 23, 2025 /CNW/ - Frontenac Mortgage Investment Corporation (" FMIC" or the " Company") today provided an update with respect to its previously announced management cease trade order (" MCTO") in connection with the Company's filings of its audited annual financial statements (the " Audited Financial Statements") and management discussion and analysis (the " MD&A"), for the financial year ended December 31, 2024 and the applicable CEO and CFO certifications (together with the Audited Financial Statements and the MD&A, the " Annual Filings"). As previously disclosed, the delay in filing the Annual Filings is due to delays experienced by the Company's external auditors, MNP LLP, in completing the audit of the annual financial statements for the year ended December 31, 2024. The Company is continuing to work diligently with its external auditors to complete the audit and currently expects to file the Annual Filings by July 18, 2025. The aforementioned delay in filing the Annual Filings has created an additional delay in filing the Company's interim financial statements and related management discussion and analysis for the three months ended March 31, 2025, together with the applicable CEO and CFO certifications (collectively, the " Interim Filings"), which were due on May 30, 2025. It is anticipated that the Interim Filings will be filed alongside, or shortly following, the Annual Filings. Further to the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders (" NP 12-203"), the Company confirms the: (i) there has been no material change to the information set out in its press release dated May 12, 2025 (the " Announcement") and subsequent default status reports that has not been generally disclosed; (ii) except as disclosed in the Announcement and subsequent default status reports, there has not been any other specified default by the Company under NP 12-203; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed. Forward-Looking Statements This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as " forward-looking statements") within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company, and specifically includes statements relating to the timing of the filing of the Annual Filings and Interim Filings. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond FMIC's ability to predict or control which may cause actual events, results, performance, or achievements of FMIC to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although FMIC believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, FMIC assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise.
Cision Canada
09-06-2025
- Business
- Cision Canada
Frontenac Mortgage Investment Corporation Provides Bi-Weekly Update on Annual Filings and Provides an Update on Interim Filings for First Quarter of 2025 and Annual General Meeting
Frontenac Mortgage Investment Corporation (" FMIC" or the " Company") today provided an update with respect to its previously announced management cease trade order ("MCTO") in connection with the Company's filings of its audited annual financial statements (the " Audited Financial Statements") and management discussion and analysis (the " MD&A"), for the financial year ended December 31, 2024 and the applicable CEO and CFO certifications (together with the Audited Financial Statements and the MD&A, the " Annual Filings"). Further to its press release dated May 26, 2025 (the " Announcement"), its principal regulator, the Ontario Securities Commission, granted the MCTO on May 9, 2025. As previously announced, the Company applied for the MCTO due to a delay in the filing of the Company's annual financial statements for the year ended December 31, 2024, the related management's discussion and analysis and the management certifications of annual filings (collectively, the " Required Documents"), which were due on April 30, 2025. The MCTO restricts the Company's former manager, W.A. Robinson & Associates Ltd. (" W.A. Robinson"), its former administrator, Pillar Financial Services Inc. (" Pillar"), and certain individuals who are or have been directors or officers of FMIC, W.A. Robinson and Pillar from all trading in securities of the Company until such time as the Required Documents have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company. As previously disclosed, the delay in filing the Required Documents is due to delays experienced by the Company's external auditors, MNP LLP, in completing the audit of the annual financial statements for the year ended December 31, 2024. The Company is continuing to work diligently with its external auditors to complete the audit and currently expects to file the Required Documents by June 30, 2025. The Company will issue a news release announcing completion of the filing of the Annual Filings at such time as they are completed and filed. Until the Required Documents are filed, the Company intends to comply with the provisions of the alternative information guidelines as set out in National Policy 12-203 – Management Cease Trade Orders (" NP 12-203") for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release. The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) there has not been any other specified default by the Company under NP 12-203; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed. Update on First Quarter Financials The aforementioned delay in filing the Annual Filings has created an additional delay in filing the First Quarter Financial Statements and related documents for the Company. The First Quarter statements were due to be filed on May 30, 2025. It is anticipated that the First Quarter Statements and Related Documents will be filed alongside, or shortly following, the Annual Filings. Update on 2025 Annual General Meeting The 2025 Annual General Meeting will be called later in 2025, due to the delay in the availability of the Annual Filings, which are a requirement for presentation at the Meeting. When the Board of Directors has set the Meeting Date, a Notice of Meeting will be communicated, and shareholder packages will be provided to registered shareholders of Frontenac. Forward-Looking Statements This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as " forward- looking statements") within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company, and specifically includes statements relating to the timing of the filing of the Required Documents. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond FMIC's ability to predict or control which may cause actual events, results, performance, or achievements of FMIC to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although FMIC believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, FMIC assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise.
Yahoo
09-06-2025
- Business
- Yahoo
Frontenac Mortgage Investment Corporation Provides Bi-Weekly Update on Annual Filings and Provides an Update on Interim Filings for First Quarter of 2025 and Annual General Meeting
OTTAWA, ON, June 9, 2025 /CNW/ - Bi-Weekly update on Annual Filings Frontenac Mortgage Investment Corporation ("FMIC" or the "Company") today provided an update with respect to its previously announced management cease trade order ("MCTO") in connection with the Company's filings of its audited annual financial statements (the "Audited Financial Statements") and management discussion and analysis (the "MD&A"), for the financial year ended December 31, 2024 and the applicable CEO and CFO certifications (together with the Audited Financial Statements and the MD&A, the "Annual Filings"). Further to its press release dated May 26, 2025 (the "Announcement"), its principal regulator, the Ontario Securities Commission, granted the MCTO on May 9, 2025. As previously announced, the Company applied for the MCTO due to a delay in the filing of the Company's annual financial statements for the year ended December 31, 2024, the related management's discussion and analysis and the management certifications of annual filings (collectively, the "Required Documents"), which were due on April 30, 2025. The MCTO restricts the Company's former manager, W.A. Robinson & Associates Ltd. ("W.A. Robinson"), its former administrator, Pillar Financial Services Inc. ("Pillar"), and certain individuals who are or have been directors or officers of FMIC, W.A. Robinson and Pillar from all trading in securities of the Company until such time as the Required Documents have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company. As previously disclosed, the delay in filing the Required Documents is due to delays experienced by the Company's external auditors, MNP LLP, in completing the audit of the annual financial statements for the year ended December 31, 2024. The Company is continuing to work diligently with its external auditors to complete the audit and currently expects to file the Required Documents by June 30, 2025. The Company will issue a news release announcing completion of the filing of the Annual Filings at such time as they are completed and filed. Until the Required Documents are filed, the Company intends to comply with the provisions of the alternative information guidelines as set out in National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release. The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) there has not been any other specified default by the Company under NP 12-203; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed. Update on First Quarter Financials The aforementioned delay in filing the Annual Filings has created an additional delay in filing the First Quarter Financial Statements and related documents for the Company. The First Quarter statements were due to be filed on May 30, 2025. It is anticipated that the First Quarter Statements and Related Documents will be filed alongside, or shortly following, the Annual Filings. Update on 2025 Annual General Meeting The 2025 Annual General Meeting will be called later in 2025, due to the delay in the availability of the Annual Filings, which are a requirement for presentation at the Meeting. When the Board of Directors has set the Meeting Date, a Notice of Meeting will be communicated, and shareholder packages will be provided to registered shareholders of Frontenac. Forward-Looking Statements This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company, and specifically includes statements relating to the timing of the filing of the Required Documents. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond FMIC's ability to predict or control which may cause actual events, results, performance, or achievements of FMIC to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although FMIC believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, FMIC assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise. SOURCE Frontenac Mortgage Investment Corporation View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Magnetic North Acquisition Corp. Provides Bi-Weekly Update On Status Of Management Cease Trade Order
CALGARY, Alberta and TORONTO, June 06, 2025 (GLOBE NEWSWIRE) -- Magnetic North Acquisition Corp. (TSXV: MNC; ('Magnetic North' or the 'Company') is providing this bi-weekly update on the status of the management cease trade order granted on May 9, 2025 (the 'MCTO') by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 - Management Cease Trade Orders ('NP 12-203'), following the Company's announcement on May 8, 2025 (the 'Default Announcement') that it was unable to file its audited annual financial statements, management's discussion and analysis and related certifications for the year ended December 31, 2024 (the 'Documents') on or before April 30, 2025, as required under applicable securities laws. The Company still expects to file the Documents by June 30, 2025. There are no material changes to the information contained in the Default Announcement. In addition: (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Documents; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed. About Magnetic North Acquisition Corp. Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success. With offices in Calgary and Toronto, our experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North common shares and preferred shares trade on the TSX Venture Exchange under the stock symbol MNC and respectively. The TSX Venture recently announced that Magnetic North is a '2021 TSX Venture 50' recipient. For more information about Magnetic North, visit its website at Magnetic North's securities filings can also be accessed at For further information, please contact: Graeme Dick Stephen McCormick Investor Relations VP, Capital Markets 403-451-0939 403-451-0939 graeme@ stephen@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION Certain statements in this news release are 'forward-looking statements', which reflect current expectations of the management of Magnetic North regarding future events or Magnetic North's future performance. All statements other than statements of historical fact contained in this news release may be forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements. Magnetic North believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Magnetic North assumes no obligation to update or revise them to reflect new events or circumstances, except as expressly required by applicable securities law. Further information regarding risks and uncertainties relating to Magnetic North and its securities can be found in the disclosure documents filed by Magnetic North with the securities regulatory authorities, available at
Yahoo
03-06-2025
- Business
- Yahoo
GENAI ANNOUNCES DELAY IN FILING ITS ANNUAL FINANCIAL STATEMENTS AND ISSUANCE OF MCTO
VANCOUVER, BC, June 3, 2025 /CNW/ - Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (OTCQB: AICOF) announces that due to a delay in the completion of audit and financial reporting procedures, GenAI did not file its audited annual financial statements, management's discussion and analysis and related certifications for the financial year ended January 31, 2025 on or before June 2, 2025, as required (the "Annual Filings"). The delay in filing the Annual Filings is outside of the Company's control and primarily due to the external auditor's quality review of audit procedures, including matters related to the accounting treatment and presentation of certain Company acquisitions in the financial statements. The Company is assisting their external auditor by providing then with the supplementary information and additional documentation they need in order to finalize their audit procedures, and it is anticipated that the Annual Finings will be made on or about June 30, 2025. The Company confirms that there have been no material business developments or other material information relating to its affairs as of the date of this news release that have not been generally disclosed and is not subject to any insolvency proceedings. The Company requested the issuance of a management cease trade order ("MCTO") by the British Columbia Securities Commission (the "BCSC") under the provisions of National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). Further to the Company's request, the MCTO was today granted by the BCSC. The MCTO prohibits the chief executive officer and the chief financial officer of the Company from trading in securities of the Company for so long as the Annual Filings are not filed. During this period, the Company has undertaken not to, directly or indirectly, issue or acquire securities from an insider or employee of the Company. The MCTO does not affect the ability of any shareholders who are not insiders of the Company to trade their securities of the Company, and the Company's common shares will continue to trade on the Canadian Securities Exchange. The Company confirms that it intends to satisfy the provisions of NP 12-203 and issue bi‑weekly default status reports for so long as the Company remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Company to remedy the default; particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of the Company requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed. On Behalf of the Board, Patrick GrayCEO, Director and Chairman of the Board Generative AI Solutions Corp. Toll-free North America: +1-833-879-7632Outside North America: +1-406-879-7632info@ About Generative AI Solutions Corp. GenAI is a pioneering artificial intelligence company focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud™platform, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of AI to create transformative products and services that benefit business and consumers across various sectors. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI- based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our MAI Cloud™platform and our expertise in machine learning, natural language processing, and data analytics, we build versatile high-performance tools that redefine efficiency, productivity, and user experience. For more information on GenAI, please visit Forward-Looking Information and Statements This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop revenue generating applications; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company; and Company's ability to continue to meet the requirements of listing of the CSE. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. View original content to download multimedia: SOURCE GENERATIVE AI SOLUTIONS CORP. 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