Cash Store Financial Announces Cease Trade Order Issued by the Ontario Securities Commission
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The Future is Binary – The Cash Store Financial Services Inc. (“Cash Store Financial” or the “Company”) announced today that a Cease Trade Order (the “Cease Trade Order) was issued on June 18, 2014 by the Ontario Securities Commission due to the Company failing to file interim financial statements for the 6-month period ended March 31, 2014, interim management’s discussion and analysis, and certification of interim filings for the period ended March 31, 2014 as required by National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings.
The Company previously announced a Cease Trade Order was issued on May 30, 2014 by the Alberta Securities Commission due to the Company failing to file interim unaudited financial statements, interim management’s discussion and analysis, and certification of interim filings for the period ended March 31, 2014, (collectively, the “Continuous Disclosure Documents”) pursuant to section 146 of the Securities Act (Alberta). Per the terms of the Cease Trade Order, all trading in the Company’s securities has ceased.
As Cash Store Financial announced on May 16, 2014, its inability to file these materials is attributable to the circumstances of the Company’s ongoing court-supervised restructuring process under the Companies’ Creditors Arrangement Act (“CCAA”). Cash Store Financial intends to file the Continuous Disclosure Documents as soon as is commercially reasonable, or as requested by the Court, and is committed to completing the restructuring process as quickly and efficiently as is possible.
The Company remains open for business with its branches operating. Further details regarding the Company’s CCAA proceedings are available on the Monitor’s website at http://cfcanada.fticonsulting.com/cashstorefinancial/.