Volatus Provides Update on Management Cease Trade Order
VOLATUS CAPITAL CORP.
NEWS RELEASE
VOLATUS PROVIDES UPDATE ON MANAGEMENT CEASE TRADE ORDER
VANCOUVER BC, July 17, 2024 - Volatus Capital Corp. (CSE: VC) ("Volatus" or the "Company"), is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders ("NP 12-203").
As previously announced on May 31, 2024 (the "Default Announcement"), the Company applied for a management cease trade order ("MCTO") from the B.C. Securities Commission due to an expected delay in filing the Company's annual financial statements, management's discussion and analysis, and related officer certifications for the financial year ended January 31, 2024 (collectively, the "Annual Filings").
The MCTO was granted by the BCSC on May 31, 2024. No further defaults are anticipated at this time. The Company continues to work closely with its auditor and expects to file the Annual Filings and the Q1 Interim Filings as soon as possible, and in any event no later than July 29, 2024.
The MCTO prohibits the Company's Chief Executive Officer, Chief Financial Officer, and such other directors, officers and persons as determined by the applicable regulatory authorities, from trading in the common shares in the capital of the Company (the "Common Shares").
The Company will also not be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company until such time as the Annual Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. The MCTO does not affect the ability of any other shareholders of the Company to trade Common Shares.
The Company confirms that: (i) there are no changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Annual Filings is continuing, which will be issued in the form of a press release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.
The MCTO will stay in effect until the Annual Filings are completed and the Company will continue to issue bi-weekly default status reports as required.
FOR FURTHER INFORMATION CONTACT:
Christopher Reynolds President & CEO Volatus Capital Corp.
Telephone: 778-819-2710
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.