Wellfield Technologies Inc. Provides Management Cease Trade Order Update
Wellfield Technologies (OTC:WFLDF) has provided an update regarding its Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission. The company is working with auditors to complete and file its annual financial statements and MD&A for the year ended March 31, 2025.
The company expects to complete the Annual Filings by September 29, 2025. Wellfield confirmed there have been no material changes to previously disclosed information, no failures in fulfilling alternative information guidelines, and no additional defaults beyond those already announced.
Wellfield Technologies (OTC:WFLDF) ha comunicato un aggiornamento relativo al Management Cease Trade Order (MCTO) emesso dalla British Columbia Securities Commission. La società sta collaborando con i revisori per completare e depositare il bilancio annuale e la MD&A relativi all'esercizio chiuso il 31 marzo 2025.
Wellfield prevede di completare le pratiche annuali entro il 29 settembre 2025. La società ha confermato che non ci sono stati cambiamenti materiali rispetto alle informazioni già divulgate, nessuna inadempienza alle linee guida alternative di informazione e nessun ulteriore default oltre a quelli precedentemente annunciati.
Wellfield Technologies (OTC:WFLDF) ha informado una actualización sobre el Management Cease Trade Order (MCTO) emitido por la British Columbia Securities Commission. La empresa está trabajando con los auditores para completar y presentar sus estados financieros anuales y el MD&A correspondientes al año fiscal finalizado el 31 de marzo de 2025.
La compañía espera finalizar las presentaciones anuales antes del 29 de septiembre de 2025. Wellfield confirmó que no ha habido cambios materiales en la información previamente divulgada, que no ha incumplido las directrices alternativas de información y que no existen incumplimientos adicionales aparte de los anunciados anteriormente.
Wellfield Technologies (OTC:WFLDF)는 브리티시컬럼비아 증권위원회가 발행한 경영진 거래중지명령(Management Cease Trade Order, MCTO)에 관한 업데이트를 발표했습니다. 회사는 감사인과 협력하여 2025년 3월 31일로 종료된 연도의 연차 재무제표 및 MD&A를 완료·제출하고 있습니다.
회사 측은 연례 제출 서류를 2025년 9월 29일까지 완료할 것으로 예상합니다. Wellfield는 이전에 공시한 정보에 중대한 변경이 없었고, 대체 정보 지침을 이행하지 못한 사례가 없으며, 이전에 발표된 것 외에 추가적인 채무불이행도 없다고 확인했습니다.
Wellfield Technologies (OTC:WFLDF) a publié une mise à jour concernant le Management Cease Trade Order (MCTO) émis par la British Columbia Securities Commission. La société collabore avec ses auditeurs pour finaliser et déposer ses états financiers annuels et son MD&A pour l'exercice clos le 31 mars 2025.
Wellfield prévoit de compléter les dépôts annuels d'ici le 29 septembre 2025. La société a confirmé qu'il n'y a pas eu de changements matériels par rapport aux informations précédemment divulguées, qu'elle n'a pas manqué aux directives alternatives d'information et qu'il n'existe pas de défauts supplémentaires au-delà de ceux déjà annoncés.
Wellfield Technologies (OTC:WFLDF) hat ein Update zum Management Cease Trade Order (MCTO) der British Columbia Securities Commission veröffentlicht. Das Unternehmen arbeitet mit seinen Prüfern zusammen, um die Jahresabschlüsse und das MD&A für das am 31. März 2025 endende Geschäftsjahr fertigzustellen und einzureichen.
Wellfield erwartet, die Jahresunterlagen bis zum 29. September 2025 abzuschließen. Das Unternehmen bestätigte, dass es keine wesentlichen Änderungen gegenüber den zuvor bekanntgegebenen Informationen gibt, keine Verstöße gegen alternative Informationsrichtlinien vorliegen und keine weiteren Zahlungsausfälle neben den bereits angekündigten bestehen.
- None.
- Company is under Management Cease Trade Order due to delayed annual financial filings
- Inability to meet original filing deadlines for annual financial statements and MD&A
Toronto, Ontario--(Newsfile Corp. - August 29, 2025) - Wellfield Technologies Inc. (TSXV: WFLD) (OTC Pink: WFLDF) (FSE: K8D) (the "Company" or "Wellfield") is providing an update with respect to its previously announced management cease trade order ("MCTO") issued by the British Columbia Securities Commission (the "BSCS") under National Policy 12-203 — Management Cease Trade Orders ("NP 12-203"), as previous disclosed in the news releases of the Company dated July 17, 2025 (the "Default Announcement") and July 31, 2025 (the "MCTO News Release").
The Company and its auditors continue to work diligently to file the 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"). It is expected that the Company will be able to complete the Annual filings by no later than September 29, 2025.
The Company is providing this bi-weekly update in accordance with NP 12-203 and will continue to provide such bi-weekly updates until such time that it remains in default for failure to file the Annual Filings.
The Company confirms that as of the date herein, (a) there has been no material change to the information set out in the Default Announcement or the MCTO News Release that has not been generally disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264585
FAQ
Why is Wellfield Technologies (WFLDF) under a Management Cease Trade Order?
When will Wellfield Technologies (WFLDF) file its delayed annual financial statements?
What is the current status of Wellfield Technologies' (WFLDF) MCTO?
What regulatory body issued the Management Cease Trade Order for Wellfield Technologies?
