Business
Elcora Announces Late Filing of Annual Financial Statements and Management Cease Trade Order
HALIFAX, Nova Scotia, July 30, 2025 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ER...
About this update from Elcora Advanced Materials Corp.
[{"type":"text","content":"Elcora Announces Late Filing of Annual Financial Statements and Management Cease Trade Order\n\n\n\n HALIFAX, Nova Scotia, July 30, 2025 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM0 | OTCQB – ECORF), (the \"Company\" or \"Elcora\"), announces today that, as a result of delays to its audit, the Company’s annual financial statements and accompanying management's discussion and analysis for the fiscal year ended March 31, 2025 (the “Annual Filings”) were not finalized by July 29, 2025, being the date that such filings are due under applicable Canadian securities law requirements. Further to its news release of July 14, 2025, the Company applied for, and has been granted, a management cease trade order (the \"MCTO\") by the Nova Scotia Securities Commission.\n \n\n The Company has been delayed in filing its audited financial statements due to additional time being required to audit transactions carried out by the Company’s subsidiary located in Morocco, along with the enhanced quality controls by the Company’s auditors.\n \n\n The Company currently expects to file the Annual Filings on or before September 29, 2025 and will issue a news release announcing the completion of the filings at such time. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.\n \n\n During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Officer, Chief Financial Officer, and Directors, will not be able to trade in the Company's common shares.\n \n\n\n\n About Elcora Advanced Materials Corp.\n \n\n\n\n\n Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine, and produce battery related minerals and metals. As part of the vertical integration strategy E...