GreenStar Announces Cease Trade Order
17 6월 2014 - 10:18PM
Marketwired
GreenStar Announces Cease Trade Order
TORONTO, ONTARIO--(Marketwired - Jun 17, 2014) - GreenStar
Agricultural Corporation (TSX-VENTURE:GRE) ("GreenStar" or the
"Company") reports that further to the temporary order issued by
the Director of the Corporate Finance Branch of the Ontario
Securities Commission (the "Director") on June 3, 2014 cease
trading the common shares of the Company, which order was to expire
fifteen days after its issuance, on June 16, 2014 the Director
issued a further order cease trading the common shares of the
Company (the "CTO") until further order of the Director. As with
the June 3, 2014 order, the CTO was issued as a result of the delay
in filing the Company's audited financial statements for the year
ended December 31, 2013, unaudited interim financial statements of
the Company for the three month period ended March 31, 2014,
accompanying management's discussion and analysis, and related CEO
and CFO certifications, as required by Ontario securities law (the
"Required Filings"). As a result of the June 3, 2014 order, the TSX
Venture Exchange (the "TSX-V") suspended trading of the Company's
common shares until such time as it accepts a reinstatement
application by the Company. In addition, the Executive Director of
the British Columbia Securities Commission also issued a cease
trade order dated June 4, 2014 which order also remains in effect
until revoked by the Executive Director.
The Company is working diligently to resolve all outstanding
issues in the audit. As previously announced, the Company's legal
counsel and CFO visited Pucheng on June 6 and 7, 2014, and
confirmed certain circumstances at the Company reported by the CEO
and confirmed the process initiated by the Company to replace the
finance chop. The Company expects to receive a new finance chop on
June 19, 2014. With the new finance chop, the Company's audit
committee plans to complete certain verification procedures at the
banks and the tax bureaus. Following such verification, the
auditors should be able to resume and complete their audit
work.
The Company will fully cooperate with the auditors to facilitate
their audit process, so that they can complete the audit as soon as
possible. Once the Required Filings are made, the Company intends
to apply to the OSC and other securities regulators for a full
revocation of the CTO. Upon the revocation of the CTO, the Company
will submit a reinstatement application to the TSX-V.
A copy of the CTO can be found at the Company's website at
www.greenstaragricultural.com.
About GreenStar
GreenStar operates two main divisions, agricultural and food
processing. The agricultural division is involved in the
cultivation and harvesting of agricultural products such as fresh
fruit and vegetables, for sale either directly as fresh fruit and
vegetables or canned, and sold overseas and domestically. The food
processing division is primarily involved in the processing of
canned food, which includes canned tomato paste, canned boiled
bamboo shoots, canned oranges, canned peaches and various other
types of fruits and vegetables.
GreenStar has been operating for over 19 years. Through the
application of science and technology in production, quality
control and assurance, and business operations and management,
GreenStar has focused on maintaining product and reputational
excellence with a high standard of food quality. Key assets include
modern production facilities and a close partnership with local
farmers.
GreenStar Agricultural Corp. is listed on the TSX Venture
Exchange under the symbol "GRE".
For further information on GreenStar please visit our web site
at www.greenstaragricultural.com.
Neither the TSX Venture Exchange nor its Regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute
"forward looking" statements which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward looking statements. When used
in this press release, such statements may use such words as "may",
"will", "expect", "believe", "plan" and other similar terminology.
These statements reflect management's current expectations
regarding future events and operating performance and speak only as
of the date of this press release. Forward looking information in
this press release includes, but is not limited to but is not
limited to, management's expectation on receiving the new finance
chop and the anticipated date for receiving the chop, management's
expectation that verification at the banks and the tax bureaus will
be made by the audit committee; management's expectation that
auditors will resume and complete the audit work; management's
expectation on making the Required Filings, and management's plan
to make application to revoke the CTO and management's intention to
apply to restate the trading on the TSXV. Forward-looking
information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
information. The Company believes the expectations reflected in the
forward-looking information are reasonable but no assurance can be
given that these expectations will prove to be correct and readers
are cautioned not to place undue reliance on forward-looking
information contained in this press release. Some of the risks and
other factors which could cause results to differ materially from
those expressed in the forward-looking information contained in
this press release include, but are not limited to: international,
national and local business and economic conditions; political or
economic instability in the Company's markets; competition;
legislation and governmental regulation; and accounting policies
and practices. The foregoing list of factors is not exhaustive.
Please see the Company's annual MD&A dated April 25, 2013,
available on www.sedar.com, for a more detailed description of the
risk factors. The Company undertakes no obligation to update
publicly or revise any forward looking information, whether a
result of new information, future results or otherwise, except as
required by law.
GreenStar Agricultural Corporation:Robert Macdonald(416) 849
3858rgam36@gmail.comInvestor Cubed Inc.:(647) 258-3311, (888)
258-3323info@investor3.ca
Greenstar Agricultural Corp (TSXV:GRE)
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Greenstar Agricultural Corp (TSXV:GRE)
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부터 11월(11) 2023 으로 11월(11) 2024