VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) — NextGen Food Robotics Corp. (NYSE:NEXTGEN) announced a company) (CBOE: NGRB; OTC Pink: NGRBF; Frankfurt: O83) provides an update in accordance with National Policy 12-203 – Administrative Stop Trading Orders (“NB 12-203“).
On August 13, 2024, the Company announced that it had applied for an administration halt order (“MCTO“) with the British Columbia Securities Commission (“BCSC“) in connection with the delay in filing the audited annual financial statements for the year ended April 30, 2024, the related management discussion and analysis, the CEO and CFO certifications and the annual information form for the fiscal year ended April 30, 2024 (collectively referred to as the “Required documents“) by the specified application deadline (“Original Advertisement“). At that time, and based on the information then available, the Company expected to file the required documents by August 31, 2024. The Central Trading Order was issued on July 30, 2024, prohibiting the CEO and CFO from trading in the Company’s securities, either directly or indirectly, until the Company files the required documents and the SCA revokes the Central Trading Order. On August 27, 2024, in its first biweekly status update, the Company announced that it expected to file the required documents by September 16, 2024. On September 12, 2024, the Company announced that it expected to file the required documents by September 27, 2024.
As of today’s date, the Company expects to file the required documents by October 11, 2024. In addition, the Company’s interim financial report, related management discussion and analysis and certifications of the CEO and CFO for the first quarter of 2024 ended July 31, 2024 (“Interim First Quarter Report“) which was due by September 16, 2024, is now expected to be filed by October 11, 2024. The Company will file the interim first quarter report concurrently with and immediately after the filing of the required documents.
The Company confirms that since the date of the original announcement: (a) other than as described above and in the first and second weekly status updates, there have been no changes to the information contained in the original announcement that would be expected to be material to an investor; (b) there has been no failure by the Company to fulfill its stated intentions with respect to meeting the alternative information guidance provisions of NP 12-203; (c) other than the failure to file the first quarter interim report, there has been no other specified default by the Company under NP 12-203, and no further such default is anticipated; and (d) there is no other material information relating to the affairs of the Company that has not been publicly disclosed.
The Company confirms that it will continue to meet the alternative information guidance provisions of NP 12-203 as long as it remains in default of the required filing and interim first quarter report.
About NextGen Food Robotics
Nextgen Food Robotics operates ghost restaurants and offices from two locations in Vancouver, British Columbia. Additionally, the company is developing Lily, an AI-powered mobile app designed to provide personalized food recommendations and automated meal planning.
On behalf of the Board of Directors
Paul Francisco Rivas, CEO
1 (236) 471-1357
privas@nextgenai.ca
Cautionary Note Regarding Forward-Looking Information
This press release contains certain forward-looking statements within the meaning of applicable securities laws regarding the Company. These forward-looking statements are generally identified by words such as believe, plan, anticipate, expect, estimate, intend, strategy, future, opportunity, plan, may, should, will, will, and similar expressions, and this press release includes statements regarding the timing of the Company’s required filings and first-quarter interim report, and the Company’s compliance with the MCTO and NP 12-203. In particular, this press release contains forward-looking information regarding the expected filing date of the Company’s annual financial statements for the year ended April 30, 2024, the related management’s discussion and analysis, related certifications for the fiscal year ended April 30, 2024, the Company’s annual information form for the fiscal year ended April 30, 2024 and the first-quarter interim report. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as the Company can give no assurance that they will prove to be correct. Because forward-looking statements and information address future events and conditions, they inherently involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this press release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date hereof and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable law.
Neither Cboe Canada nor its Market Regulatory Authority (as defined in the Cboe Canada Listing Guide) accepts responsibility for the adequacy or accuracy of this press release.
Source: NextGen Food Robotics Corp.