Moovly Announces Failure to File Cease Trade Order

Rhea-AI Summary

Moovly Media Inc. (TSXV: MVY) (OTC Pink: MVVYF) has received a failure-to-file cease trade order (FFCTO) from the British Columbia Securities Commission. The order prohibits trading or purchasing of company securities in Canada, including trades through TSX Venture Exchange. The FFCTO was issued due to Moovly's delay in filing its annual audited financial statements and related management's discussion and analysis for the fiscal year ended September 30, 2024.

exceptions allow non-insider beneficial shareholders who acquired securities before February 4, 2025, to sell through foreign organized regulated markets via registered Canadian investment dealers. The company states it is working with auditors to complete the required Annual Filings, which were originally due by January 28, 2025. Moovly confirms it is not under insolvency proceedings and has disclosed all material information.

Positive

• None.

Negative

• Received failure-to-file cease trade order (FFCTO) halting trading in Canada
• Failed to file annual financial statements and MD&A by January 28, 2025 deadline
• Trading restrictions may impact stock liquidity and shareholder value

News Market Reaction

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1 alert

% News Effect

On the day this news was published, MVVYF declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - February 6, 2025) - Moovly Media Inc. (TSXV: MVY) (OTC Pink: MVVYF) (FSE: 0PV2) ("Moovly" or the "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 February 4, 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 and related management's discussion and analysis for the fiscal year ended September 30, 2024, and related filings (the "Annual Filings). Under National Instrument 51-102 - Continuous Disclosure Obligations, the Annual Filings were required to be made no later than January 28, 2025.

The Company is working diligently with its auditors to facilitate the completion of the Annual Filings as soon as practicable. The Company is not subject to any insolvency proceedings. There is no material information concerning the affairs of the Company that has not been generally disclosed.

About Moovly: Moovly is the leading provider of AI-powered creative tools to create compelling marketing, communications and training videos and video presentations. Moovly's advanced Studio Editor with millions of assets seamlessly integrated (via a partnership with Getty Images) is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly's API and Automator technologies allow third parties to automate parts or all of the content creation process, including mass video customization, personalized videos (video version of mail merge), automatic content creation or updating by connecting data sources. With clients including users from over 300 of the Fortune 500, small businesses, freelancers and Ivy league universities, Moovly is an intuitive, cost effective choice for DIY creation of engaging video-based content.

"Your story begins with Moovly"

Files are available for download in our press room at www.moovly.com/pressroom.
For additional information about Moovly, please visit www.moovly.com.

Brendon Grunewald
President, CEO and Director
Email: press@moovly.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239937

FAQ

Why was Moovly Media (MVVYF) issued a cease trade order in February 2025?

Moovly Media was issued a failure-to-file cease trade order (FFCTO) by the British Columbia Securities Commission for failing to file its annual audited financial statements and management's discussion and analysis for the fiscal year ended September 30, 2024, which were due January 28, 2025.

Can investors still trade Moovly Media (MVVYF) shares after the February 2025 cease trade order?

Non-insider beneficial shareholders who acquired shares before February 4, 2025, can only sell through foreign organized regulated markets using registered Canadian investment dealers. Trading is otherwise prohibited in Canada, including on the TSX Venture Exchange.

When were Moovly Media's (MVVYF) delayed annual financial statements originally due?

Moovly Media's annual financial statements and related filings were originally due no later than January 28, 2025, under National Instrument 51-102 - Continuous Disclosure Obligations.

What is Moovly Media (MVVYF) doing to resolve the cease trade order situation?

The company states it is working diligently with its auditors to complete and file the required annual financial statements and related documents as soon as practicable.