Business
CORRECTION - Reeflex Solutions Inc. Announces Delay in Filing Annual Financial Statements, Intent to Restate Quarterly Financial Statements and Application for Management Cease Trade Order
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About this update from Reeflex Solutions Inc.
[{"type":"text","content":"CORRECTION – Reeflex Solutions Inc. Announces Delay in Filing Annual Financial Statements, Intent to Restate Quarterly Financial Statements and Application for Management Cease Trade Order\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Dec. 17, 2025 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Reeflex Solutions Inc. (TSXV: RFX), please note the date in the fourth paragraph has been corrected. The corrected release follows:  Reeflex Solutions Inc. (TSXV: RFX) (“Reeflex” or the “Company”) announces that it will be unable to meet the December 29, 2025 filing deadline (the “Filing Deadline”) for its audited annual financial statements, accompanying management’s discussion and analysis (“MD&A”) and CEO and CFO certifications (the “Certificates”) for the financial year ended August 31, 2025 (collectively, the “Annual Filings”), The Corporation further announces that it intends to restate its interim financial statements for the quarter ended May 31, 2025, accompanying MD&A and Certificates (the “Q3 Filings” and together with the Annual Filings, the “Required Filings”), all, as required pursuant to National Instrument 51-102 Continuous Disclosure Obligations, and National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings. Context for Investors: Transition From a Private Company to an IFRS-Compliant Public Issuer The delay in meeting the Filing Deadline is attributable to the complexity of the Company’s audit process and the work required to transition from a privately held, family-owned operating business to a fully IFRS-compliant public company following the completion of its reverse takeover transaction on May 16, 2025 and the related acquisition of Coil Solutions Inc. (“CSI”) on May 15, 2025 (together, the “Transaction”). Concurrent with the closing of the Transaction, the Company changed its year end from December 31, 2025 to August 31, 2025 to align with the year end of its operating subsidiary, CSI, and engaged the services of a new auditor, MNP LLP, The Company’s previously filed Q3 Filings were prepared on the bas...