GreenStar Provides Disclosure Update
2014年5月21日 - 11:58PM
Marketwired
GreenStar Provides Disclosure Update
TORONTO, ONTARIO--(Marketwired - May 21, 2014) - GreenStar
Agricultural Corporation (TSX-VENTURE:GRE) (the "Company" or
"GreenStar"), announced that a management cease trade order
("MCTO") has been ordered by the Ontario Securities Commission
("OSC") as principal regulator following a hearing held on May 16,
2014.
The hearing was held by the OSC as a result of GreenStar's April
28 and May 6, 20142 announcements that it would be late in filing
its audited annual financial statements for the fiscal year ended
December 31, 2013 and related Management's Discussion &
Analysis and CEO and CFO certification of filings (collectively,
the "Annual Filings"), following the issuance by the OSC of a
temporary management cease trade order on May 5, 2014.
The MCTO restricts all trading in and all acquisitions of the
securities of the Company, whether direct or indirect, by the Chief
Executive Officer and the Chief Financial Officer of the Company
until two full business days following the receipt by the OSC of
all Annual Filings. The MCTO will not affect the ability of persons
who are not insiders of GreenStar to trade its securities.
GreenStar intends to satisfy the provisions of the Alternative
Information Guidelines as set out in National Policy 12 - 203 for
as long as GreenStar remains in default, including the issuance of
further by-weekly default status reports, each of which will be
issued in the form of a press release. A general cease trade order
may be issued if GreenStar fails to file such default status
reports on a timely basis.
The delay in filing was the result of GreenStar having received
notice from its auditors that they were not able to provide an
audit opinion by the filing deadline. GreenStar's audit committee
has been following up with the auditors and the Chinese management
to complete the audit and in doing so, has identified certain
corporate governance and administrative deficiencies which
contributed to the delay in the audit. The board of directors views
these matters very seriously, and is taking steps to improve
corporate governance oversight and to resolve all outstanding
issues with the audit. The audit committee continues to try and
resolve this matter with Mr. Guan Lianyun, President and CEO of the
Company, and the audit committee believes that Mr. Guan is working
to resolve this situation, but there can be no assurance of
success.
A copy of the MCTO can be found at the Company's website at
www.greenstaragricultural.com.
About GreenStar
GreenStar operates two main divisions, agricultural and food
processing. The agricultural division is involved in the
cultivation and harvesting of agricultural products such as fresh
fruit and vegetables, for sale either directly as fresh fruit and
vegetables or canned, and sold overseas and domestically. The food
processing division is primarily involved in the processing of
canned food, which includes canned tomato paste, canned boiled
bamboo shoots, canned oranges, canned peaches and various other
types of fruits and vegetables.
GreenStar has been operating for over 19 years. Through the
application of science and technology in production, quality
control and assurance, and business operations and management,
GreenStar has focused on maintaining product and reputational
excellence with a high standard of food quality. Key assets include
a well established management team, modern production facilities,
and a close partnership with local farmers.
GreenStar Agricultural Corp. is listed on the TSX Venture
Exchange under the symbol "GRE".
For further information on GreenStar please visit our web site
at www.greenstaragricultural.com.
Neither the TSX Venture Exchange nor its Regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute
''forward looking'' statements which involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking
statements. When used in this press release, such statements may
use such words as ''may'', ''will'', ''expect'', ''believe'',
''plan'' and other similar terminology. These statements reflect
management's current expectations regarding future events and
operating performance and speak only as of the date of this press
release. Forward looking information in this press release
includes, but is not limited to but is not limited to, management's
expectation on make the Annual Filings, management's intention to
comply with the Alternative Information Guidelines, and
management's expectation that it will be remediate the corporate
governance deficiencies and resolve all outstanding audit issues.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. The Company believes the expectations
reflected in the forward-looking information are reasonable but no
assurance can be given that these expectations will prove to be
correct and readers are cautioned not to place undue reliance on
forward-looking information contained in this press release. Some
of the risks and other factors which could cause results to differ
materially from those expressed in the forward-looking information
contained in this press release include, but are not limited to:
international, national and local business and economic conditions;
political or economic instability in the Company's markets;
competition; legislation and governmental regulation; and
accounting policies and practices. The foregoing list of factors is
not exhaustive. Please see the Company's annual MD&A dated
April 25, 2013, available on www.sedar.com, for a more detailed
description of the risk factors. The Company undertakes no
obligation to update publicly or revise any forward looking
information, whether a result of new information, future results or
otherwise, except as required by law.
GreenStar Agricultural Corporation:Robert Macdonald(416) 849
3858rgam36@gmail.comInvestor Cubed Inc.:(647) 258-3311 or (888)
258-3323info@investor3.ca
Greenstar Agricultural Corp (TSXV:GRE)
過去 株価チャート
から 9 2024 まで 10 2024
Greenstar Agricultural Corp (TSXV:GRE)
過去 株価チャート
から 10 2023 まで 10 2024