- Magnetic North Acquisition Corp. (TSXV:MNC) had its trading suspended by the TSX Venture Exchange because of its failure to file its annual financial statements
- This suspension was a result of a cease trade order issued by the Alberta Securities Commission
- The cease trade order prohibits the trading or purchase of any securities of Magnetic North in each jurisdiction in Canada where the company is a reporting issuer for as long as it remains in effect
- Magnetic North Acquisition Corp. last traded at $0.07 per share
Magnetic North Acquisition Corp. (TSXV:MNC) had its trading suspended by the TSX Venture Exchange because of its failure to file its annual financial statements.
This suspension was a result of a cease trade order issued by the Alberta Securities Commission.
According to a news release, the order was issued because the company had not filed its audited annual financial statements, accompanying management discussion and analysis and certifications for the financial year ended Dec. 31, 2023, or the corresponding interim financial statements, management discussion and analysis, and certifications for the period ending March 31, 2024.
The cease trade order prohibits the trading or purchase of any securities of Magnetic North in each jurisdiction in Canada where the company is a reporting issuer for as long as it remains in effect.
The company intends to submit the required materials to the Venture Exchange requesting the reinstatement of trading and expects the order to be revoked and also hopes to see trading resume in the next few days.
Magnetic North invests and manages businesses on behalf of its shareholders and its experienced management team applies its considerable skills, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders.
Magnetic North Acquisition Corp. (TSXV:MNC) last traded at $0.07 per share.
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