NU E Power Corp. Provides Second Update on Management Cease Trade Order
Rhea-AI Summary
NU E Power (CSE:NUE, OTC:NUEPF) remains subject to a management cease trade order (MCTO) from the Alberta Securities Commission related to delayed 2025 annual filings. The CEO and CFO cannot trade company securities, but shareholders can. Management reports progress on filing the Required Documents and will issue bi-weekly status updates under NP 12-203 until the default is remedied.
AI-generated analysis. Not financial advice.
Positive
- Shareholders’ ability to trade NUE and NUEPF shares is not restricted by the MCTO
- Board and management report considerable progress toward filing 2025 audited financial statements and MD&A
- Company states there are no ongoing investigations into the filing delay events
- Company plans bi-weekly default status reports, improving disclosure during the filing delay
Negative
- Management cease trade order remains in effect from the Alberta Securities Commission
- CEO and CFO are prohibited from trading company securities until Required Documents are filed and MCTO revoked
- Company is in default of its 2025 annual audited financial statement filing requirement
- Delay in filing 2025 audited financials, MD&A and related certifications creates ongoing reporting uncertainty
Calgary, Alberta--(Newsfile Corp. - May 25, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) ("NUE" or the "Company") further to its news releases of April 27, 2026 and May 11, 2026 continues to be under a management cease trade order (the "MCTO") granted by the Company's principal regulator, the Alberta Securities Commission (the "Commission"), on May 1, 2026, under National Policy 12-203 Management Cease Trade Orders ("NP 12-203").
Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended December 31, 2025, management's discussion & analysis and related certifications (collectively the "Required Documents"), and the Commission revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.
The Company's Board of Directors and management confirm that they have made considerable progress and continue work diligently to file the Required Documents. There are no ongoing investigations into the events that contributed to the delay in filing. The Company confirms that since its press release dated May 11, 2026, there is no other material information respecting the Company's affairs that has not been generally disclosed.
Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.
Contact Information
For more information, please contact:
| Broderick Gunning, Chief Executive Officer E-mail: brodie@nu-energy.ca | John Meekison, Chief Financial Officer E-mail: john@nu-energy.ca |
Forward-Looking Information
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information"). Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "expects", "intends", "plans", "may", "will", "continue", and similar expressions, although not all forward-looking information contains these identifying words.
More particularly and without limitation, the forward‐looking information in this news release includes: (i) expectations regarding the timing for completion of the audit and filing of the Required Documents; and (ii) the Company's intention to satisfy the alternative information guidelines under National Policy 12-203. Such forward-looking information is based on a number of assumptions which may prove to be incorrect, including but not limited to: the availability and continued engagement of the Company's auditor; and the absence of material accounting adjustments arising from completion of the audit. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company.
Whether actual results, performance, or achievements will conform to NUE's expectations and predictions is subject to a number of known and unknown risks and uncertainties, which could cause actual results and experience to differ materially from NUE's expectations. Such material risks and uncertainties include, but are not limited to, the risk that completion of the audit may be further delayed, the risk that the audit may identify material adjustments or issues requiring further review, the Company's ability to remedy the default within the anticipated timeframe, and the risk that the Commission may convert the MCTO to a full cease trade order if the Company fails to comply with the alternative information guidelines.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298789