Forte Group Announces Filing of Fiscal 2024 Audited Financial Statements
Rhea-AI Summary
Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF) has announced the completion and filing of its audited financial statements for fiscal year 2024, along with management's discussion and analysis and CEO/CFO certifications. The company had previously disclosed a delay in these filings due to increased audit procedures related to discontinued operations and the wind-down of non-core subsidiaries. These actions are part of Forte Group's strategic initiative to streamline operations and strengthen its balance sheet.
Positive
- Strategic restructuring initiatives aimed at streamlining operations
- Completion of required financial filings, maintaining compliance
- Active balance sheet strengthening efforts through non-core subsidiary wind-down
Negative
- Delay in filing annual financial statements
- Discontinuation of certain operations indicating potential business challenges
- Need for increased audit procedures suggesting complex financial situations
News Market Reaction 1 Alert
On the day this news was published, FGHFF gained 1531.58%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / May 5, 2025 / Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF)(FSE:7BC0, WKN:A40L1Z)("Forte Group" or the "Company"), a diversified lifestyle and wellness consumer packaged goods company, announces that, further to its news release dated May 1, 2025, it has completed and filed its audited financial statements for the fiscal year ended December 31, 2024, including the accompanying management's discussion and analysis and CEO and CFO certifications (collectively, the "Required Filings").
As previously disclosed, the delay in filing was primarily related to increased audit procedures concerning the Company's discontinued operations and the orderly wind-down of certain non-core subsidiaries. These restructuring initiatives are part of Forte Group's broader strategy to streamline operations and strengthen its balance sheet.
Forte Group thanks its shareholders for their patience and continued support.
About Forte Group Holdings Inc.
Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF)(FSE: 7BC0, WKN:A40L1Z) is a diversified lifestyle and wellness consumer packaged goods company. Forte Group develops and manufactures a range of alkaline and mineral-enriched beverages and nutraceutical supplements for both its TRACE brand and private-label clients. Based in British Columbia, Canada, Forte Group owns a pristine natural alkaline spring water aquifer and operates a 40,000-square-foot, Health Canada and HACCP-certified manufacturing facility near Osoyoos, British Columbia. The Company's distribution network includes traditional retail and e-commerce channels, delivering wellness-focused products directly to consumers through its innovative offerings.
On behalf of the Board of Directors:
Marcello Leone, Chief Executive Officer and Director
info@fortegroup.co
604-569-1414
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on the Company's current expectations, estimates, projections, and assumptions as of the date hereof and are subject to a number of known and unknown risks, uncertainties, and other factors. Forward-looking statements in this release include, but are not limited to, statements regarding the anticipated resolution of any related regulatory matters, including the potential issuance or revocation of a Failure-to-File Cease Trade Order, and the expected outcomes of the Company's restructuring initiatives. Actual results may differ materially from those expressed or implied by such forward-looking statements due to various factors, including but not limited to: regulatory decisions and timelines, completion of internal and external audit processes, and the execution and impact of the Company's operational and financial strategies. Additional risk factors are detailed in the Company's public disclosure documents available on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
SOURCE: Forte Group Holdings
View the original press release on ACCESS Newswire
FAQ
Why did Forte Group (FGHFF) delay its 2024 financial statements filing?
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