Molecule Holdings Inc., a leading Canadian cannabis extraction company, recently provided an update on the revocation of the cease trade order that was imposed on its securities. The company has been working diligently to address the concerns raised by the Ontario Securities Commission (OSC) and is pleased to announce significant progress in resolving the issues.
The cease trade order was initially issued by the OSC due to Molecule’s failure to file its audited annual financial statements for the year ended December 31, 2020, within the prescribed timeframe. This non-compliance raised concerns about the company’s financial reporting and transparency, leading to the suspension of trading in its securities.
Since then, Molecule Holdings has been actively working with its auditors and legal advisors to rectify the situation and ensure compliance with all regulatory requirements. The company has successfully completed the audit of its financial statements for the year ended December 31, 2020, and has submitted them to the OSC for review.
In addition to addressing the audit-related concerns, Molecule has also taken steps to enhance its corporate governance practices. The company has strengthened its internal controls and implemented robust procedures to ensure timely and accurate financial reporting in the future. These measures are aimed at restoring investor confidence and maintaining transparency in Molecule’s operations.
Molecule Holdings is confident that it has taken all necessary actions to address the concerns raised by the OSC and expects the revocation of the cease trade order in the near future. Once the order is lifted, trading in Molecule’s securities will resume, allowing investors to once again participate in the company’s growth potential.
The revocation of the cease trade order will be a significant milestone for Molecule Holdings as it will enable the company to access capital markets and pursue its strategic initiatives. The company has a strong pipeline of extraction projects and partnerships, which will be crucial in driving its future growth and profitability.
Molecule’s management team remains committed to upholding the highest standards of corporate governance and financial reporting. The company recognizes the importance of transparency and accountability in the cannabis industry, and it is determined to regain the trust of its shareholders and stakeholders.
In conclusion, Molecule Holdings Inc. has made substantial progress in resolving the issues that led to the imposition of the cease trade order. The completion of the audit for the year ended December 31, 2020, and the implementation of enhanced corporate governance practices demonstrate the company’s commitment to compliance and transparency. With the revocation of the cease trade order expected in the near future, Molecule is poised to resume trading and continue its growth trajectory in the cannabis extraction sector.
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