Business
Helix BioPharma Corp. Provides Second Bi-Weekly MCTO Status Update
RICHMOND HILL, ON / ACCESSWIRE / November 15, 2021 / Helix BioPharma Corp. (TSX:HBP) ("Helix...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix BioPharma Corp. Provides Second Bi-Weekly MCTO Status UpdateRICHMOND HILL, ON / ACCESSWIRE / November 15, 2021 / Helix BioPharma Corp. (TSX:HBP) (\"Helix\" or the \"Company\"), an immuno-oncology company developing innovative drug candidates for the prevention and treatment of cancer, is providing this bi-weekly update on the status of the management cease trade order granted on November 1, 2021 (the \"MCTO\") by its principal regulator, the Ontario Securities Commission under National Policy 12-203 Management Cease Trade Orders (\"NP 12-203\"), following the Company's announcements on October 15, 2021 and November 1, 2021 (together, the \"Prior Releases\") that it was unable to file its annual financial statements, management's discussion and analysis, annual information form and related officer certifications for the financial year ended July 31, 2021 (collectively, the \"Annual Filings\") on or before October 29, 2021, as required under applicable securities laws.The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company. The Company reports that: (i) the Company now expects to complete the filing of its Annual Filings by December 3, 2021 (the \"New Target Filing Date\"); (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, each of 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, and, no such other default is anticipated; (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 further delay is primarily due to an additional review of certain transactions by the Company's auditor, Marcum LLP (the \"Auditor\"), and in light of such review being the Auditor's first review of the documentation comprising the Annual Filings since the Auditor's formal engagement as auditor of the Company in June 2021.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 require...