Wellfield Technologies Inc. Announces Grant of Management Cease Trade Order and Status Report
Wellfield Technologies (OTC:WFLDF) has received a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission following their application. The company failed to file its annual financial statements and MD&A for the year ended March 31, 2025 by the July 29, 2025 deadline.
Under the MCTO, Wellfield has until September 29, 2025 to complete the required Annual Filings. The order restricts the CEO and CFO from trading company securities but does not affect other shareholders. The company expects to file the required documents by August 29, 2025. If Wellfield fails to meet the extended deadline, regulators may impose a broader Cease Trade Order.
Wellfield Technologies (OTC:WFLDF) ha ricevuto un Ordine di Sospensione delle Operazioni di Trading (MCTO) dalla British Columbia Securities Commission a seguito della loro richiesta. La società non ha presentato i bilanci annuali e la relazione sulla gestione (MD&A) per l'anno conclusosi il 31 marzo 2025 entro la scadenza del 29 luglio 2025.
In base al MCTO, Wellfield ha tempo fino al 29 settembre 2025 per completare le presentazioni annuali richieste. L'ordine vieta al CEO e al CFO di negoziare titoli della società, ma non influisce sugli altri azionisti. La società prevede di presentare i documenti richiesti entro il 29 agosto 2025. Se Wellfield non rispetterà la scadenza prorogata, i regolatori potrebbero imporre un ordine di sospensione più ampio.
Wellfield Technologies (OTC:WFLDF) ha recibido una Orden de Suspensión de Comercio (MCTO) por parte de la Comisión de Valores de Columbia Británica tras su solicitud. La empresa no presentó sus estados financieros anuales y el MD&A para el año terminado el 31 de marzo de 2025 antes de la fecha límite del 29 de julio de 2025.
Bajo la MCTO, Wellfield tiene hasta el 29 de septiembre de 2025 para completar las presentaciones anuales requeridas. La orden restringe al CEO y al CFO de negociar valores de la empresa, pero no afecta a otros accionistas. La compañía espera presentar los documentos requeridos antes del 29 de agosto de 2025. Si Wellfield no cumple con la fecha extendida, los reguladores podrían imponer una orden de suspensión más amplia.
Wellfield Technologies (OTC:WFLDF)는 신청에 따라 브리티시컬럼비아 증권위원회로부터 경영 거래 중지 명령(MCTO)을 받았습니다. 회사는 2025년 3월 31일 종료된 회계연도에 대한 연례 재무제표 및 경영진 토의 및 분석(MD&A)를 2025년 7월 29일 마감일까지 제출하지 못했습니다.
MCTO에 따라 Wellfield는 필요한 연례 제출 서류를 2025년 9월 29일까지 완료해야 합니다. 이 명령은 CEO와 CFO가 회사 증권을 거래하는 것을 제한하지만 다른 주주에게는 영향을 미치지 않습니다. 회사는 2025년 8월 29일까지 필요한 서류를 제출할 예정입니다. 만약 Wellfield가 연장된 기한을 지키지 못하면, 규제 당국은 더 광범위한 거래 중지 명령을 내릴 수 있습니다.
Wellfield Technologies (OTC:WFLDF) a reçu une Ordonnance de Suspension de Négociation (MCTO) de la Commission des valeurs mobilières de la Colombie-Britannique suite à leur demande. La société n’a pas déposé ses états financiers annuels et le rapport de gestion (MD&A) pour l’exercice clos le 31 mars 2025 avant la date limite du 29 juillet 2025.
Selon la MCTO, Wellfield dispose jusqu’au 29 septembre 2025 pour compléter les dépôts annuels requis. L’ordonnance interdit au PDG et au directeur financier de négocier les titres de la société, mais ne concerne pas les autres actionnaires. La société prévoit de déposer les documents requis avant le 29 août 2025. Si Wellfield ne respecte pas ce délai prolongé, les régulateurs pourraient imposer une ordonnance de suspension plus large.
Wellfield Technologies (OTC:WFLDF) hat auf Antrag eine Management-Handelsstopp-Anordnung (MCTO) von der British Columbia Securities Commission erhalten. Das Unternehmen hat es versäumt, seine Jahresfinanzberichte und das Management Discussion & Analysis (MD&A) für das am 31. März 2025 endende Geschäftsjahr bis zur Frist am 29. Juli 2025 einzureichen.
Gemäß der MCTO hat Wellfield bis zum 29. September 2025 Zeit, die erforderlichen Jahresunterlagen einzureichen. Die Anordnung untersagt dem CEO und CFO den Handel mit Unternehmenswertpapieren, betrifft jedoch nicht andere Aktionäre. Das Unternehmen plant, die erforderlichen Dokumente bis zum 29. August 2025 einzureichen. Sollte Wellfield die verlängerte Frist nicht einhalten, könnten die Aufsichtsbehörden eine umfassendere Handelsstopp-Anordnung verhängen.
- None.
- Failure to file required annual financial statements and MD&A by deadline
- Management Cease Trade Order (MCTO) imposed on CEO and CFO
- Risk of broader Cease Trade Order if compliance not achieved by September 29
Toronto, Ontario--(Newsfile Corp. - July 31, 2025) - Wellfield Technologies Inc. (TSXV: WFLD) (OTC Pink: WFLDF) (FSE: K8D) (the "Company" or "Wellfield") announces that following the Company's application to the British Columbia Securities Commission (the "BCSC") for a management cease trade order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"), as previous disclosed in the news release of the Company dated July 17, 2025 (the "Initial News Release"), the BCSC has granted the MCTO. Pursuant to the MCTO, the Company will have until September 29, 2025 to file its audited financial statements and related annual management's discussion and analysis (MD&A) for the financial year ended March 31, 2025, as required under Part 4 and Part 5, respectively, of National Instrument 51-102 — Continuous Disclosure Obligations, and related certifications of such filings by the Company's chief executive officer and chief financial officer as required under Part 4 of National Instrument 52-109 — Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "Annual Filings") beyond the prescribed filing deadline of July 29, 2025.
The MCTO will prohibit the chief executive officer and the chief financial officer of the Company from trading in securities of the Company for so long as the Annual Filings are not filed. The issuance of the MCTO does not affect the ability of persons other than the chief executive officer and the chief financial officer of the Company to trade in the Company's securities.
The Company has confirmed that it intends to satisfy the provisions of the alternative information guidelines described in sections 9 and 10 of NP 12-203 for so long as it remains in default for failure to file the Annual Filings. Should the Company fail to file the appropriate Default Status Reports (as defined in, and prescribed by, NP 12-203), the securities commissions or regulators may, as a result of such failure, impose a cease trade order (a "CTO").
The Company confirms that it is not subject to any insolvency proceeding as of the date hereof. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date herein.
For additional details as to why the Annual Filings were not filed within the prescribed time period, please refer to the Initial News Release. Other than as disclosed in this news release, no changes have occurred in the matters disclosed in the Initial News Release.
The Company's Annual Filings are required to be filed within two months of the prescribed filing deadline of July 29, 2025. The Company's failure to file the Annual Filings within this two-month period may result in the securities commissions or regulators imposing a CTO.
The Company is working diligently and expeditiously with its auditor Kingston Ros Pasnak LLP in order to complete the Annual Filings as soon as practicable, and currently anticipates that it will be a position to remedy any filing default and return to compliance by completing the Annual Filings on or before August 29, 2025.
Until the Annual Filings are completed, the Company will comply with the alternative information guidelines set out in NP 12-203, including by issuing bi-weekly default status reports by way of further news releases.
About Wellfield Technologies
Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions leveraging blockchain technology. Our platform Coinmama, provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. We offer disruptive on-chain and web3 secure and friendly self-custody solutions through Coinmama. Additionally, Wellfield operates Tradewind Markets platform to digitize and trade real-world assets, including our flagship VaultChain™ Gold and VaultChain™ Silver products.
Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io.
For further information contact:
Wellfield Technologies Inc.
Levy Cohen, CEO
levyc@wellfield.io
(832) 483-2575
Ryan Graybill, Investor Relations
ryan.graybill@wellfield.io
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has approved nor disapproved the contents of this news release, nor do they accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release constitute forward-looking statements or information under Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "will", "expects", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, forward-looking statements in this release include statements regarding: the anticipated timing for the filing of the Annual Filings; and the ability of the Company to comply with the requirements of NP12-203. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including that the Annual Filings may not be completed in the time anticipated or allowed for by the MCTO, in which case a general cease trade order may be issued with respect to the Company's securities. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained in this release as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company's operations are outlined in the Company's continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. The Company does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
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