Molecule Holdings Inc. Provides Update on Application for Management Cease Trade Order and Corporate Update
LANDSDOWNE, ON – Molecule Holdings Inc. (CSE: MLCL), a Canadian craft-focused cannabis beverage production company, today announces that the Ontario Securities Commission (the “OSC”), as principal regulator of the Company, has denied the Company’s application for a management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). As such, on October 5, 2023 the OSC issued on a “failure to file” cease trade order (“CTO”) prohibiting the trading by any person or company of any securities of the Company in Canada, except pursuant to limited exceptions under the CTO. The CTO was issued as a result of a delay in the preparation of the Company’s interim financial statements, management’s discussion and analysis and related officer certifications for the three and nine months ended July 31, 2023 (collectively, the “Interim Filings”) as required under Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations...