Liquid Meta Announces Cease Trade Order
TORONTO, Sept. 11, 2023 /CNW/ - Liquid Meta Capital Holdings Ltd. ("Liquid Meta" or the "Company") (NEO:LIQD) (FRANKFURT: N5F) (OTCQB: LIQQF) announces that the British Columbia Securities Commission (the "BCSC") has notified the Company that it will issue a cease trade order ("FFCTO") under Multilateral Instrument 11-103 – Failure-to-File Cease Trade Orders in Multiple Jurisdictions against the Company today due to the delay in filing its audited annual financial statements, accompanying management discussion and analysis, and CEO and CFO certifications for the financial year ended May 31, 2023 (the "Annual Filings") in accordance with the regulations.
The FFTCO prohibits the trading in all securities of Liquid Meta Capital Holdings Ltd. in each jurisdiction in Canada until such time as the Company is able to complete the filing of the Annual Filings and successfully apply for a revocation of the FFCTO. If the Annual Filings are made within 90 days of the date of the FFCTO, such filings will constitute the Company's application to have the FFCTO revoked. There can be no assurance that the FFCTO will be revoked on the timeline contemplated by the Company or at all.
The filings are delayed due to the complexities in the overall cryptocurrency industry including auditing of annual transactions. This has resulted in missing the filing deadline. The Company is working diligently with its auditors to complete the remaining audit and will make the required filings as soon as possible. The auditors have not provided a definitive timeline as to when we can expect the audit report at this time. Management will file the Annual Audited Financial statements and accompanying documents as soon as the audit report is received.
The Company confirms that there is no material information concerning the affairs of the Company that has not been generally disclosed.
Prior to discontinuing its operations, Liquid Meta was a DeFi and Web3 focused company developing best-in-class technology and operational expertise allowing it to build a scaled business within proof-of-stake ("PoS") based networks (see "Proof-of-Stake" for more information). Liquid Meta was focused on liquidity mining operations and planned to build proprietary software and tools to access, automate, and scale operations within the fast-growing DeFi segment of the blockchain industry.
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Forward-Looking statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Liquid Meta to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks Factors" in the Company's Annual Information Form dated as of August 31, 2023 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Liquid Meta's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For further information:
Jonathan Wiesblatt, President, CEO
Liquid Meta Investor Relations
[email protected]
[email protected]
SOURCE Liquid Meta Capital Holdings Ltd
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