Aurex Reports on Cease Trade Order
August 11, 2020 - TheNewswire - Saskatoon, Saskatchewan - Aurex Energy Corp. ("AURX" or the "Company") (TSXV:AURX) reports that a Cease Trade Order ("CTO") and revocation of a Management Cease Trade Order ("MCTO") was issued by the Alberta Securities Commission ("ASC") August 7, 2020, in conjuction with a suspension of trading in the Company's shares by the TSX Venture Exchange ("TSXV") as a result of the CTO. The CTO was issued as a result of the Company's failure to file its annual audited financial statements, management's discussion and analysis, and officers' certificates for the year ended December 31, 2019 (the "Annual Filings"), and its interim financial statements, management's discussion and analysis, and officers' certificates for the period ended March 31, 2020 (the "Q1 Filings"), by the July 31, 2020 deadline granted under the MCTO (see news release dated July 31, 2020). As previously reported, the delays in filing are in part due to issues related to the COVID-19 pandemic, and in particular the cross-border complications affecting the Company's US subsidiaries.
The Company and its auditors continue to use their best efforts to remedy the default status as soon as possible and complete the required filings.
The ASC advises that a revocation order for the CTO will be issued as soon as possible after the Annual and Q1 Filings are filed on SEDAR. Once the CTO is revoked, the Company will apply to the TSXV for reinstatement of trading.
About Aurex Energy Corp.
Aurex Energy Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, SK. Aurex is focused on the acquisition and development of a diversified portfolio of resource properties critical to current and future energy production. This includes natural gas for LNG, base metals, platinum group elements, strategic metals including cobalt, and gold.
AUREX ENERGY CORP. TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL "AURX".
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Aurex Energy Corp.
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Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
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