VANCOUVER, British Columbia, March 05, 2025 (GLOBE NEWSWIRE) — Western Resources Corp. (TSX: WRX) (“Western Resources” or the “Company“) announces that its principal regulator, the British Columbia Securities Commission (“the “BCSC”) issued a cease trade order (“CTO“) on March 4, 2025 under the securities legislation of British Columbia.
The CTO was issued as a result of the Company’s delay in filing its annual information form, annual audited financial statements and related management’s discussion and analysis, and certifications for the financial year ended September 30, 2024, as well as interim financial statements, management’s discussion and analysis, and certifications for the period ended December 31, 2024 (the “Required Filings“).
Despite the CTO, a beneficial holder of a security of the Company who is not, and was not as of the date of the CTO, an insider or control person of the Company, may sell securities of the Company acquired before the date of the CTO if both of the following apply: (a) the sale is made through a “foreign organized regulated market”, as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
The delay in filing the Required Filings was and is due to the continued financial hardships. The Company is working diligently to remedy this issue by securing additional capital to complete the audit process so that it can file its Required Filings as soon as possible.
“Wenye Xue”
CEO and Director
For Further Information Contact:
Xiao Xing
E: [email protected].
P: 306-924 9378
Cautions Regarding Forward-Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.
