CubicFarm Systems Corporation: Announces Failure to File Cease Trade Order
CubicFarm Systems (TSXV: CUB) has received a failure-to-file cease trade order (FFCTO) from the British Columbia Securities Commission. The order prohibits trading of company securities in Canada due to delays in filing required annual and interim financial statements for 2024 and Q1 2025.
The FFCTO replaces a previous management cease trade order from April 30, 2025. Limited exceptions allow non-insider shareholders who acquired shares before July 3, 2025, to sell through foreign regulated markets via registered Canadian investment dealers. The company is working with auditors to complete the required filings in the coming weeks.
CubicFarm Systems (TSXV: CUB) ha ricevuto un ordine di sospensione delle negoziazioni per mancata presentazione (FFCTO) dalla British Columbia Securities Commission. L'ordine vieta la negoziazione dei titoli della società in Canada a causa del ritardo nella presentazione dei bilanci annuali e trimestrali richiesti per il 2024 e il primo trimestre del 2025.
L'FFCTO sostituisce un precedente ordine di sospensione delle negoziazioni emesso il 30 aprile 2025. Sono previste eccezioni limitate che consentono agli azionisti non insider che hanno acquisito azioni prima del 3 luglio 2025 di vendere tramite mercati regolamentati esteri attraverso dealer di investimento canadesi registrati. La società sta collaborando con i revisori per completare le presentazioni richieste nelle prossime settimane.
CubicFarm Systems (TSXV: CUB) ha recibido una orden de cese de negociación por incumplimiento de presentación (FFCTO) de la Comisión de Valores de Columbia Británica. La orden prohíbe la negociación de valores de la empresa en Canadá debido a retrasos en la presentación de los estados financieros anuales e interinos requeridos para 2024 y el primer trimestre de 2025.
El FFCTO reemplaza una orden anterior de suspensión de negociación de la administración del 30 de abril de 2025. Existen excepciones limitadas que permiten a los accionistas no insiders que adquirieron acciones antes del 3 de julio de 2025 vender a través de mercados extranjeros regulados mediante corredores de inversión canadienses registrados. La empresa está trabajando con los auditores para completar las presentaciones requeridas en las próximas semanas.
CubicFarm Systems (TSXV: CUB)는 브리티시컬럼비아 증권위원회로부터 제출 실패 거래 중지 명령(FFCTO)을 받았습니다. 이 명령은 2024년 및 2025년 1분기 필수 연간 및 중간 재무제표 제출 지연으로 인해 캐나다 내 회사 증권 거래를 금지합니다.
FFCTO는 2025년 4월 30일에 발행된 이전 경영진 거래 중지 명령을 대체합니다. 2025년 7월 3일 이전에 주식을 취득한 내부자가 아닌 주주들은 등록된 캐나다 투자 딜러를 통해 해외 규제 시장에서 매도할 수 있는 제한된 예외가 있습니다. 회사는 향후 몇 주 내에 필요한 제출을 완료하기 위해 감사인과 협력하고 있습니다.
CubicFarm Systems (TSXV: CUB) a reçu un ordre de cessation de négociation pour défaut de dépôt (FFCTO) de la Commission des valeurs mobilières de la Colombie-Britannique. Cet ordre interdit la négociation des titres de la société au Canada en raison de retards dans le dépôt des états financiers annuels et intermédiaires requis pour 2024 et le premier trimestre 2025.
Le FFCTO remplace un précédent ordre de cessation de négociation émis par la direction le 30 avril 2025. Des exceptions limitées permettent aux actionnaires non initiés ayant acquis des actions avant le 3 juillet 2025 de vendre via des marchés étrangers réglementés par l'intermédiaire de courtiers en investissement canadiens enregistrés. La société travaille avec les auditeurs pour finaliser les dépôts requis dans les semaines à venir.
CubicFarm Systems (TSXV: CUB) hat von der British Columbia Securities Commission eine Handelsaussetzung wegen Nicht-Einreichung (FFCTO) erhalten. Die Anordnung verbietet den Handel mit Wertpapieren des Unternehmens in Kanada aufgrund von Verzögerungen bei der Einreichung der erforderlichen Jahres- und Zwischenabschlüsse für 2024 und das erste Quartal 2025.
Das FFCTO ersetzt eine frühere Management-Handelsaussetzung vom 30. April 2025. Es gibt begrenzte Ausnahmen, die es Nicht-Insider-Aktionären, die Aktien vor dem 3. Juli 2025 erworben haben, erlauben, über ausländische regulierte Märkte mittels registrierter kanadischer Investmenthändler zu verkaufen. Das Unternehmen arbeitet mit Wirtschaftsprüfern zusammen, um die erforderlichen Einreichungen in den kommenden Wochen abzuschließen.
- None.
- Company failed to file required annual financial statements for 2024 by April 30, 2025 deadline
- Failed to file Q1 2025 interim financial statements by May 30, 2025 deadline
- Received failure-to-file cease trade order restricting trading of securities in Canada
- Previous management cease trade order has been revoked and replaced with more severe FFCTO
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2025) - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a leading local chain agricultural technology company, announces that the British Columbia Securities Commission (the "BCSC") as the principal regulator of the Company issued a failure-to-file case trade order (the "FFCTO") to the Company under Multilateral Instrument 11-103 – Failure-To-File Cease Trade Orders In Multiple Jurisdictions, prohibiting the trading in or the purchasing of any securities of the Company by any person or company in Canada, including trades in the Company's common shares made through the TSX Venture Exchange, except in accordance with the following conditions for so long as the FFCTO order remains in effect:
– a beneficial securityholder of the Company who is not, and was not at the date of the FFCTO an insider or control person of the Company, may sell securities of the Company acquired before the date of July 3, 2025 if both of the following apply: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
The FFCTO was issued as a result of the delay in the filing of the Company's annual audited financial statements for the fiscal year ended December 31, 2024, the related management's discussion and analysis and annual information form for the fiscal year ended December 31, 2024 and related filings (the "Required Annual Filings"), as well as the Company's interim financial statements for the three-month period ended March 31, 2025, the related management's discussion and analysis for the three-month period ended March 31, 2025, and related filings (the "Required Interim Filings", and together with the Required Annual Filings, the "Required Filings"). Under National Instrument 51-102 – Continuous Disclosure Obligations, the Required Annual Filings were required to be made no later than April 30, 2025, and the Required Interim Filings were required to be made no later than May 30, 2025.
The BCSC had previously granted, on April 30, 2025, a management cease trade order, which has been revoked and replaced by the FFCTO dated July 3, 2025.
The Company is working diligently with its auditors to facilitate the completion of the Required Filings and expects to file the Required Annual Filings for 2024 in the coming weeks, and it will provide updates as further information relating to the Required Documents becomes available and as required.
About HydroGreen
HydroGreen's Automated Vertical Pastures™ technology utilizes a unique process to sprout grains, such as barley and wheat, in a controlled environment with minimal use of land, labour and water. HydroGreen's fully automated indoor growing technology performs all growing functions including seeding, watering, lighting, harvesting, and re-seeding-all with the push of a button-to deliver nutritious fresh forage for livestock without the typical investment in fertilizer, chemicals, fuel, field equipment, and transportation. Automated Vertical Pastures™ not only provide superior nutritious feed to benefit the animal but also enable significant environmental benefits to the farm.
About CubicFarms
CubicFarms is a leading local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops onsite, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.
For more information, please visit https://cubicfarms.com.
Contact info@cubicfarms.com for media or investors@cubicfarms.com for investor inquiries.
Forward looking and other cautionary statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements with respect to: statements regarding the timing, review, completion and filing of the Required Filings. Such statements involve known and unknown risks, uncertainties, and other factors and assumptions which may cause the actual results, performance, or achievements of CubicFarm Systems Corp., or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information including, without limitation, the risk of the Company not obtaining the Management CTO or file the Required Filing on time and the other factors disclosed under "Risk Factors" in the Company's annual information form for the year ended December 31, 2022, and those risks described in other documents incorporated or deemed to be incorporated by reference in the prospectus. Such statements can be identified by the use of words such as "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict", and other similar terminology, or state that certain actions, events, or results "may", "can", "could", "would", "might", or "will" be taken, occur, or be achieved.
These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257849
FAQ
What is the failure-to-file cease trade order (FFCTO) issued to CubicFarm Systems (TSXV: CUB)?
When were CubicFarm Systems' 2024 annual financial statements due?
Can shareholders still sell CubicFarm (TSXV: CUB) shares under the FFCTO?
What financial reports is CubicFarm Systems currently missing?
When does CubicFarm Systems expect to file the missing financial reports?
