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Orca Energy Group Provides Update on Management Cease Trade Order and Further Filing Delay
TORTOLA, British Virgin Islands, May 19, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (" Orca ...
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"Orca Energy Group Provides Update on Management Cease Trade Order and Further Filing Delay\nTORTOLA, British Virgin Islands, May 19, 2026 (GLOBE NEWSWIRE) -- Orca Energy Group Inc. (\"Orca\" or the \"Company\") announces an update to its previously announced management cease trade order (the \"MCTO\") issued by the Alberta Securities Commission (the \"ASC\") on May 1, 2026, pursuant to National Policy 12-203 Management Cease Trade Orders (\"NP 12-203\"), as previously disclosed in news releases of the Company dated April 23, 2026, and May 4, 2026 (collectively, the \"MCTO Announcements\"). As previously disclosed in the MCTO Announcements, the Company applied for the MCTO due to an expected delay in filing its audited consolidated annual financial statements for the year ended December 31, 2025 (the \"Financial Statements\"), the related management's discussion and analysis, and its Form 52-109FV1 CEO and CFO certifications of annual filings (collectively the \"Required Filings\"). The Company and its auditor continue to work diligently toward completing the audit of the Financial Statements and the Required Filings, and continues to expect that the audit will be completed in May. The auditor has requested additional time to review the Company's provided materials and Financial Statements, and, as a result, the anticipated date for filing the Required Filings has been delayed from May 22, 2026 to May 29, 2026 (the \"Filing Delay\"). As a result of the Filing Delay, the Company anticipates it will be unable to file its interim financial statements for the three months ended March 31, 2026, it's related management's discussion and analysis, and it's Form 52-109FV2 CEO and CFO certifications of interim filings (collectively, the \"Interim Filings\") by the deadline under National Instrument 51-102 Continuous Disclosure Obligations of June 1, 2026. The Company anticipates filing the Interim Filings on or before June 8, 2026 (the \"Interim Filing Delay\"). The Company has informed the ASC of the Filing Delay and has requested that the ASC leave the MCTO in place while the ASC reviews the Filing Delay. Such request is currently under review by the ASC. The MCTO prohibits trading in securities of the Company by the Chief Executive Officer and Chief Financial Officer until such time as the Financial Statements and Required Filings and a...