Anaergia Announces Delay in the Filing of Its Audited Financial Statements and Related Disclosures
29 Mars 2024 - 4:53AM
Business Wire
Anaergia Inc. (“Anaergia” or the “Company”) (TSX:
ANRG) announced today that there will be a delay in the filing of
its annual information form for the year ended December 31, 2023,
audited annual consolidated financial statements for the year ended
December 31, 2023, the related management’s discussion and analysis
of financial condition and results of operations and CEO and CFO
certificates relating to the audited annual financial statements as
required by National Instrument 52-109 – Certification of
Disclosure in Issuers’ Annual and Interim Filings (collectively,
the “Required Documents”) beyond the April 1, 2024 filing
deadline.
Due to delays in the financial reporting process stemming from
accounting and financial reporting impacts associated with the
restructuring activities and transformation of the Company during
the 2023 year, Anaergia’s audit will take additional time. The
Company is working diligently to facilitate the completion of the
audit of the annual consolidated financial statements by Deloitte
LLP and will be in a position to file the Required Documents on or
about April 15, 2024.
The Company anticipates that the OSC will impose a failure to
file cease trade order (“CTO”) pursuant to National Policy
11-207 - Failure-to-File Cease Trade Orders and Revocations in
Multiple Jurisdictions. A CTO would prohibit the trading by any
person of any securities of the Company in Canada, including trades
in the Company’s common shares made through the Toronto Stock
Exchange. Once issued, the CTO will remain in place until such time
as the Required Documents are completed by the Company.
Anaergia will satisfy the provisions of the alternative
information guidelines under NP 12-203 by issuing bi-weekly default
status reports, if necessary, in the form of news releases for so
long as it remains in default of the above-noted filing
requirements. Anaergia confirms that there are no insolvency
proceedings to which it is subject and there is no other material
information relating to its affairs that has not been generally
disclosed. Other than as disclosed herein, Anaergia is up to date
in its filing obligations.
About Anaergia
Anaergia was created to eliminate a major source of greenhouse
gases (“GHGs”) by cost effectively turning organic waste
into renewable natural gas (“RNG”), fertilizer and water
through the use of proprietary technologies. With a track record of
delivering innovative projects, Anaergia is uniquely positioned to
provide solutions to today’s most pressing resource recovery
challenges using a broad portfolio of proven technologies and
multiple project delivery methods. Anaergia is one of the world’s
only companies with a proprietary portfolio of end-to-end solutions
that integrate solid waste processing as well as wastewater
treatment with organics recovery, high efficiency anaerobic
digestion, RNG production and recovery of fertilizer and water from
organic residuals. The combination of these technologies enhances
carbon-negative biogas, clean water and natural fertilizer
production, utilizes a minimized footprint and lowers waste and
wastewater treatment costs and GHG emissions.
For further information please see: www.anaergia.com
Forward-Looking Statements
This news release contains forward-looking information within
the meaning of applicable securities legislation, which reflects
Anaergia’s current expectations regarding future events, including
but not limited to, statements regarding the estimated filing date
of the Required Documents and the imposition of a CTO.
Forward-looking information is based on a number of assumptions,
including, but not limited to the Company’s ability to file the
Required Documents by April 15, 2024 and the Company’s ability to
meet its financing and liquidity requirements on a continuing
basis. The Company is subject to a number of risks and
uncertainties, many of which are beyond the Company’s control. Such
risks and uncertainties include, but are not limited to, but are
not limited to, the risk that the Required Documents are filed
later than anticipated, the risk that trading in the Company’s
securities may halted by the Toronto Stock Exchange and/or cease
traded temporarily by the Canadian securities commissions after the
April 1, 2024 filing deadline until such time as the Required
Documents are filed, counterparty risk exposure and the factors
discussed under “Risk Factors” in the Company’s annual information
form for the fiscal year ended December 31, 2022 and under “Risks
and Uncertainties” in the Company’s most recent management’s
discussion and analysis. Actual results could differ materially
from those projected herein. Anaergia does not undertake any
obligation to update such forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required under applicable securities laws. Additional
information on these and other factors that could affect Anaergia’s
operations or financial results are included in Anaergia’s reports
on file with Canadian regulatory authorities.
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version on businesswire.com: https://www.businesswire.com/news/home/20240328101830/en/
For media and/or investor relations please contact:
IR@Anaergia.com
Anaergia (TSX:ANRG)
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