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Reeflex Solutions Inc. Granted Management Cease Trade Order and Provides Bi-Weekly Status Update
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALG...
About this update from Reeflex Solutions Inc.
[{"type":"text","content":"Reeflex Solutions Inc. Granted Management Cease Trade Order and Provides Bi-Weekly Status Update\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Dec. 31, 2025 (GLOBE NEWSWIRE) -- Reeflex Solutions Inc. (TSXV: RFX) (“Reeflex” or the “Company”) announces that, further to its announcement on December 17, 2025, the Alberta Securities Commission (the “ASC”), as principal regulator of the Company, has issued a management cease trade order (“MCTO”) under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company applied for the MCTO in connection with the inability to file its audited annual financial statements, management’s discussion and analysis and related CEO and CFO certifications for the financial year ended August 31, 2025 (collectively, the “Annual Filings”) by the required deadline of December 29, 2025 (the “Filing Deadline”) under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations. The MCTO will restrict the Company’s CEO and CFO from trading in the Company’s securities until the Annual Filings are made but will not affect the ability of the general investing public to trade in the Company’s common shares. The Company recently underwent a complex transaction, transitioning from a private, family-owned business to a fully IFRS-compliant public company by way of a reverse takeover transaction on May 16, 2025, and related acquisition of Coil Solutions Inc. (“CSI”) on May 15, 2025 (together, 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. The Company also appointed MNP LLP as its new auditor, who advised that the Company’s interim financial statements for the quarter ended May 31, 2025, accompanying MD&A and Certificates (the “Q3 Filings”) are required to be restated to reflect CSI’s results only from the May 15, 2025 acquisition date, in accordance with IFRS. The need to restate the Q3 Filings, together with first-time public company audit requirements, has extended the time required to complete the audit of the Company’s year-end r...