Dated Jan 3/2025
Western Resources Corp. (TSX: WRX) (“Western Resources” or the “Company“) announces that its principal regulator, the British Columbia Securities Commission, has granted the Company its request for a management cease trade order (“MCTO”) effective January 2, 2025.
As previously announced on December 17, 2024, the Company applied for the MCTO due to a delay in filing its annual information form, audited annual financial statements and related management’s discussion and analysis, and certifications for the financial year ended September 30, 2024 (the “Required Filings“).
The delay to file the Required Filings is due to continuing financial hardship the Company has been experiencing. The Company is working diligently to secure new investment as well as working with its auditor to ensure the filing of its Required Filings as soon as possible, currently expecting to be on or before February 28, 2025.
The MCTO restricts the Company’s insiders from all trading in securities of the Company until such time as the Required Filings have been filed by the Company and the MCTO is no longer in effect. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
Until the Company files the Required Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders.
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