CALGARY, AB, Sept. 26, 2024 /CNW/ - Vencanna Ventures Inc. (CSE:VENI) ("Vencanna" or the "Company"), an Alberta-based go-to capital provider for early-stage cannabis initiatives, was issued a management cease trade order (the "Order") on August 29, 2024, by its principal regulator, the Alberta Securities Commission, pursuant to National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"). The Company sought the Order because it needed to delay filing its audited annual financial statements for the year ended April 30, 2024, the related management's discussion and analysis and related CEO and CFO certificates (collective, the "Required Documents"), all of which had a required deadline of August 28, 2024. The delay is attributable to the reasons outlined in the default announcement which was filed by the Company on SEDAR+ on August 27, 2024 (the "Default Announcement"). The Company expects to file the Required Documents on or before October 25, 2024 (the "Extension Period").
Since the filing of the Default Announcement, the Company has worked with its audit team to answer the necessary questions for the audit team to complete its review in a timely manner. Related to the Company's acquisition of The Cannavative Group, LLC, which closed earlier this year, the Company engaged with third-party consultants preparing ...
