New Zealand Energy Corp. Announces Issuance of Cease Trade Order
New Zealand Energy Corp. (NZERF) has received a cease trade order from the British Columbia Securities Commission (BCSC) effective May 6, 2025. The order was issued due to the company's failure to file its required annual financial documents for the year ended December 31, 2024. As a consequence, the Canadian Investment Regulatory Organization has halted trading of the company's common shares on May 7, 2025. The company expects to complete the required filings, including audited annual financial statements, management's discussion and analysis, and annual certifications, by May 16, 2025.
New Zealand Energy Corp. (NZERF) ha ricevuto un ordine di cessazione delle negoziazioni dalla British Columbia Securities Commission (BCSC) con effetto dal 6 maggio 2025. L'ordine è stato emesso a causa del mancato deposito da parte della società dei documenti finanziari annuali obbligatori relativi all'anno conclusosi il 31 dicembre 2024. Di conseguenza, l'Organismo canadese di regolamentazione degli investimenti ha sospeso la negoziazione delle azioni ordinarie della società il 7 maggio 2025. La società prevede di completare le presentazioni richieste, inclusi i bilanci annuali revisionati, la discussione e analisi della gestione e le certificazioni annuali, entro il 16 maggio 2025.
New Zealand Energy Corp. (NZERF) ha recibido una orden de cese de operaciones por parte de la Comisión de Valores de Columbia Británica (BCSC), vigente a partir del 6 de mayo de 2025. La orden se emitió debido a que la compañía no presentó los documentos financieros anuales requeridos para el año finalizado el 31 de diciembre de 2024. Como consecuencia, la Organización Reguladora de Inversiones de Canadá suspendió la negociación de las acciones comunes de la compañía el 7 de mayo de 2025. La empresa espera completar las presentaciones requeridas, incluyendo los estados financieros anuales auditados, el análisis y discusión de la gerencia, y las certificaciones anuales, para el 16 de mayo de 2025.
New Zealand Energy Corp. (NZERF)는 2025년 5월 6일부터 유효한 브리티시컬럼비아 증권위원회(BCSC)의 거래 중지 명령을 받았습니다. 이 명령은 2024년 12월 31일 종료된 회계연도에 대한 필수 연례 재무 서류를 제출하지 않아 발행되었습니다. 그 결과, 캐나다 투자 규제 기관은 2025년 5월 7일 회사의 보통주 거래를 중단했습니다. 회사는 2025년 5월 16일까지 감사된 연례 재무제표, 경영진 토론 및 분석, 연례 인증서를 포함한 필수 서류 제출을 완료할 것으로 예상하고 있습니다.
New Zealand Energy Corp. (NZERF) a reçu un ordre de cessation de négociation de la part de la British Columbia Securities Commission (BCSC), effectif à partir du 6 mai 2025. Cet ordre a été émis en raison du non-dépôt par la société des documents financiers annuels obligatoires pour l'exercice clos le 31 décembre 2024. En conséquence, l'Organisme canadien de réglementation des investissements a suspendu la négociation des actions ordinaires de la société le 7 mai 2025. La société prévoit de compléter les dépôts requis, incluant les états financiers annuels audités, la discussion et l'analyse de la gestion, ainsi que les certifications annuelles, d'ici le 16 mai 2025.
New Zealand Energy Corp. (NZERF) hat von der British Columbia Securities Commission (BCSC) mit Wirkung zum 6. Mai 2025 eine Handelssperre erhalten. Die Anordnung wurde aufgrund der Nicht-Einreichung der erforderlichen jährlichen Finanzunterlagen für das am 31. Dezember 2024 endende Geschäftsjahr erlassen. Infolgedessen hat die Canadian Investment Regulatory Organization den Handel mit den Stammaktien des Unternehmens am 7. Mai 2025 ausgesetzt. Das Unternehmen erwartet, die erforderlichen Einreichungen, einschließlich geprüfter Jahresabschlüsse, Management-Diskussion und -Analyse sowie Jahreszertifizierungen, bis zum 16. Mai 2025 abzuschließen.
- Company expects to resolve the filing issues within a short timeframe (by May 16, 2025)
- Cease trade order issued by BCSC due to failure to file required annual financial documents
- Trading of company shares halted on Canadian exchanges
- Company failed to meet regulatory compliance deadlines for financial reporting
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announces that the British Columbia Securities Commission (the "BCSC") issued a cease trade order against the Company effective May 6, 2025, for failing to file audited annual financial statements, management's discussion and analysis and annual certifications for the year ended December 31, 2024 (collectively, the "Required Filings") within the time period prescribed by securities regulation. In addition, as a result of the BCSC cease trade order, the Canadian Investment Regulatory Organization imposed a halt of trading of the Company's common shares on May 7, 2025.
It is expected that the required filings will be completed by May 16, 2025.
On behalf of the Board of Directors
"Michael Adams"
Chief Executive Officer
New Zealand Energy Corp.
Tel: +64-6-757-4470 New Zealand Energy Corp. Contacts
Email: info@newzealandenergy.com
Website: www.newzealandenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the business of the Company, including future plans and objectives. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC's current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonable. These assumptions include, but are not limited to: NZEC's current and initial understanding and analysis of its projects and the development required for such projects; the costs of NZEC's projects; NZEC's general and administrative costs remaining constant; and the market acceptance of NZEC's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NZEC to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; industry condition; volatility of commodity prices; imprecision of reserve estimates; environmental risks; operational risks in exploration and development; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting NZEC; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in NZEC's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although NZEC has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of NZEC as of the date of this news release and, accordingly, is subject to change after such date. However, NZEC expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251215
FAQ
Why was New Zealand Energy Corp (NZERF) issued a cease trade order in May 2025?
When will NZERF's cease trade order be lifted?
What are the consequences of the cease trade order for NZERF shareholders?
What documents does NZERF need to file to resolve the cease trade order?
