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Sceptre Ventures Inc. Announces Granting of Management Cease Trade Order
(via Thenewswire.ca) Vancouver, BC / TheNewswire / November 2nd, 2015: Sceptre Ventures In...
About this update from Sceptre Ventures, Inc.
[{"type":"text","content":"Sceptre Ventures Inc. Announces Granting of Management Cease Trade Order(via Thenewswire.ca)\n \n \nVancouver, BC / TheNewswire / November 2nd, 2015: Sceptre Ventures Inc. (the \"Company\") (SVP.H-TSXV) announced today that it has been granted a management cease trade order (the \"MCTO\") by its principal regulator, the British Columbia Securities Commission (the \"BCSC\"). The Company made an application for the MCTO as a result of the Company's inability to file annual financial statements, accompanying management's discussion and analysis and related CEO and CFO certifications for the financial year ended June 30, 2014 (collectively, the \"2014 Annual Financial Statements\") by October 29, 2015.\n\n \n \nThe MCTO restricts all trading in securities of the Company, whether direct or indirect, by the CEO, CFO and COO of the Company, until such time as the 2014 Annual Financial Statements have been filed by the Company. The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their securities or the Company's ability to issue shares.\n\n \n \nThe Company's inability to timely file the 2014 Annual Financial Statements, resulted from (i)) the need for additional time for Davidson & Company to enable them to complete their procedures and render an audit opinion.\n\n \n \nThe Company, together with its advisors, has developed a timeline setting forth the steps necessary to allow the 2014 Annual Financial Statements to be filed. The Company expects to complete and file its financial statements well before the end of November 2015.\n\n \n \nThe Company confirms that it will satisfy the provisions of the alternative information guidelines under National Policy 12-203 respecting Cease Trade Orders for Continuous Disclosure Defaults for so long as it remains in default as a result of the late filing of the 2014 Annual Financial Statements. During this period, Sceptre will issue bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. The Company confirms that there are no insolvency proceedings against it as of the date of this press release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.\n\n \n \nAbout Sceptr...