SoLVBL Solutions Inc. Announces Revocation of Cease Trade Order
Toronto, Ontario--(Newsfile Corp. - June 21, 2023) - SoLVBL Solutions Inc. (CSE: SOLV) (OTCQB: SOLBF) (the "Company"), a blockchain focused technology company with an emphasis on creating and distributing digital entertainment products and applications sealed by its proprietary Q by SoLVBL software, is pleased to announce the revocation of the cease trade order (the "CTO") issued by the Ontario Securities Commission (the "OSC" and/or the "Principal Regulator") on May 5, 2023.
The CTO was issued by the OSC under the terms defined in National Instrument 14-101 Definitions and National Policy 11-207 Failure-to-File Cease Trade Orders (the "FFCTO") and Revocations in Multiple Jurisdictions, following the Company's failure to file its audited annual financial statements for the year ended December 31, 2022, management's discussion and analysis, and related CEO and CFO certifications (collectively, the "2022 Annual Filings").
The Company confirms that the Principal Regulator is satisfied that the order to revoke the FFCTO meets the test set out in the aforementioned legislation and on June 14th, 2023, the Principal Regulator notified the company that the FFCTO has been revoked.
In addition to completing the Annual Filings on May 31, 2023, the Company also completed the filing of its condensed interim consolidated financial statements for the three months ended March 31, 2023 and 2022, management's discussion and analysis, and related CEO and CFO certifications (collectively, the "Q1 2023 Filings") on June 12, 2023. Copies of the 2022 Annual Filings and Q1 2023 Filings are available under the Company's SEDAR profile at www.sedar.com.
With the revocation of the CTO, trading in the common shares of the Company through the facilities of the Canadian Securities Exchange is expected to resume in the coming days. The Company is following up with the Canadian Securities Exchange in this regard and resumption of trading will be confirmed in a follow up press release.
AGORACOM: Our IR Partners:
This News Release is available on the Company's official and Verified Discussion Forum AGORACOM, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders. For more information visit: https://agoracom.com/ir/SoLVBLSolutionsInc
For Further Information, Contact:
SoLVBL Solutions Inc.
100 King Street West, Suite 5700 Toronto, ON, M5X 1C7
The CSE has neither approved nor disapproved the contents of this press release.
Cautionary Note Regarding Forward-looking Information:
NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to the ability of the Company to successfully achieve its business objectives and expectations for other economic, business and/or competitive, factors. There can be no assurance that forward-looking 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 the forward-looking statements and information contained in this news release. Except as required by law, SoLVBL assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required.
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