SOL GLOBAL PROVIDES UPDATE ON STATUS OF FINANCIAL STATEMENTS
SOL GLOBAL PROVIDES UPDATE ON STATUS OF FINANCIAL STATEMENTS
Toronto, ON, April 14, 2023. SOL Global Investments Corp. (“SOL Global” or the “Corporation”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is providing an update to its previously announced management cease trade order (the “MCTO”) granted by the Ontario Securities Commission (the “OSC”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”).
Pursuant to the MCTO, the Corporation’s acting interim CEO, and the Corporation’s CFO, Paul Kania, may not trade in securities of the Corporation until such time as the Corporation files its annual audited financial statements, annual management’s discussion and analysis and related certifications for the year ended November 30, 2022 (collectively, the “Required Documents”), and the OSC revokes the MCTO.
The MCTO does not affect the ability of other shareholders to trade their securities.
The Corporation has not yet filed the Required Documents, however SOL Global is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible. The delay in filing the required documents is in connection with audit delays related to recent changes in management for the Corporation and the additional steps required for third party valuations needed for audit purposes.
SOL Global also confirms that it intends to satisfy the provisions of NP 12-203 and issue bi-weekly default status reports for so long as they remain in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by SOL Global to remedy the default, particulars of any failure by the Corporation to fulfill these provisions, any subsequent defaults of SOL Global requiring a default announcement and any other material information concerning the affairs of the Corporation not previously disclosed.
Contact Information:
SOL Global Investments Corp.
Paul Kania, CFO
Phone: (212) 729-9208
Email: info@solglobal.com