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Eguana Provides Update on Filing of Annual Financial Statements
Calgary, Alberta--(Newsfile Corp. - May 7, 2025) - Eguana Technologies Inc. (TSXV: EGT) (" Egua...
About this update from Eguana Technologies Inc
[{"type":"text","content":"Eguana Provides Update on Filing of Annual Financial StatementsCalgary, Alberta--(Newsfile Corp. - May 7, 2025) - Eguana Technologies Inc. (TSXV: EGT) (\"Eguana\" or the \"Company\"), a leading developer and manufacturer of high-performance energy storage systems, announces that further to its application to the Alberta Securities Commission (\"ASC\") for a temporary management cease trade order (\"MCTO\"), in connection with the Company's filing of its audited annual financial statements (the \"Financial Statements\") and management discussion and analysis (the \"MD&A\") for the financial year ended December 31, 2024, and the applicable CEO and CFO certifications (together with the Financial Statements and the MD&A, the \"Annual Filings\"), the ASC has granted the MCTO. The MCTO prohibits 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, including the disposition or acquisition of securities of the Company under any automatic plan. During this period, the Company will cease any share buy-back activities under its normal course issuer bid, and has undertaken not to, directly or indirectly, issue or acquire securities from an insider or employee of the Company.The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their securities of the Company.The Company will issue a news release announcing completion of the filing of the Annual Filings, at such time as they are completed and filed. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in under National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (\"NP 12-203\"), including issuing bi-weekly default status reports by way of news releases, which will be filed on SEDAR+.The delay in filing the Annual Filings is a result of unexpected delays experienced by the Company. The Company is working with its accounting team to prepare the Financial Statements and respond to all audit queries. It is the Company's reasonable expectation that the Annual Filings will be finalized by May 30, 2025. About Eguana Technologies Inc.Eguana's vision is to build the grid of the future by delivering flexible, modular, and cost-effective alternat...