Business
Enthusiast Gaming Announces Receipt of MCTO
Toronto, Ontario--(Newsfile Corp. - April 7, 2026) - Enthusiast Gaming Holdings Inc. (TSX: EGLX) ...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"Enthusiast Gaming Announces Receipt of MCTOToronto, Ontario--(Newsfile Corp. - April 7, 2026) - Enthusiast Gaming Holdings Inc. (TSX: EGLX) (\"Enthusiast Gaming\" or the \"Company\"), a leading digital publisher focused on building tools, platforms, and experiences for gamers, today announced that further to its news release dated March 31, 2026, regarding the Company's application to the Ontario Securities Commission (\"OSC\") for a management cease trade order (\"MCTO\") to be imposed in respect of its delay in filing its annual financial statements, management's discussion and analysis, annual information form and related officer certifications for the financial year ended December 31, 2025 (collectively, the \"Annual Filings\"), the OSC has granted the MCTO.The MCTO does not affect the ability of shareholders who are not employees or insiders of the Company to trade their securities of the Company. 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. Additionally, for so long as the Annual Filings are not filed, the Company will not, directly or indirectly, issue securities or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of March 31, 2026.As previously disclosed, the delay in filing the Annual Filings is primarily due to delays in the external auditor's ongoing audit procedures. The Company's external auditor was appointed on September 15, 2025. The Company is assisting their external auditor by providing them with the supplementary information and additional documentation they need in order to finalize their audit procedures as soon as possible, and in any event no later than April 13, 2026.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, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company t...