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Sceptre Ventures Announces Filing Of Application For Management Cease Trade Order; Provides Update On Izon Network Inc. Transaction
(TheNewswire) Vancouver, BC - The Newswire - October 15, 2020: Sceptre Ventures I...
About this update from Sceptre Ventures, Inc.
[{"type":"text","content":"Sceptre Ventures Announces Filing Of Application For Management Cease Trade Order; Provides Update On Izon Network Inc. Transaction\n \n \n (TheNewswire)\n \n \n \n \n \n \n Vancouver, BC - The Newswire -\nOctober 15, 2020: Sceptre Ventures Inc.\n \n \n (\"Sceptre\" and/or the\n\"Company\"\n \n \n )\n \n \n (\n \n \n SVP.H:TSXV\n \n \n )\n \n \n will be\nunable to file its annual financial statements and accompanying\nmanagement's discussion and analysis and related CEO and CFO\ncertificates for the financial year ended June 30, 2020 (collectively,\nthe \"Annual Filings\") within the 120 day period prescribed\nfor the filing of such documents under Parts 4 and 5 of National\nInstrument 51-102 and Part 4 of National Instrument 52-109 as a result\nof complexities caused by the COVID-19 pandemic, which has impacted\nthe ability to raise financing, complete its audit and proceed toward\ncompletion of its previously announced proposed Qualifying Transaction\n(\"QT\") with IZON Network Inc.\n \n \n \n \n In connection with the Company's inability to file the\nAnnual Filings by October 28, 2020, the Company is making an\napplication for a Management Cease Trade Order (\"MCTO\")\nunder National Policy 12-203 -\n \n \n Management Cease Trade Orders\n \n \n (\"NP\n12-203\"), which application is subject to review and acceptance\nby regulators. There is no certainty that such order will be granted.\n The applicable Canadian securities regulatory authorities may issue\nfailure-to-file cease trade orders against Sceptre for failure to file\nits Annual Filings within the prescribed time period.\n \n \n \n \n Assuming the Company's MCTO application is acceptable\nto regulators, during the period in which the MCTO is effective,\nSceptre will comply with the alternative information guidelines set\nout in NP 12-203, including issuance of bi-weekly default status\nreports, in the form of news releases; and the general investing\npublic, who are not insiders of the Company, will continue to be able\nto trade in the Company's listed common shares. The Company's CEO and\nCFO will not be able to trade the Company's common shares until such\ntime as the Annual Filings have been filed by the Company and the MCTO\nhas been revoked.\n \n \n \n \n Further to the Company's previously issued press\nreleases dated March 10, 2020 and January 9, 2020, Sceptre a...