Wednesday, May 22, 2024
HomeFinance NewsKolibri Global Energy Inc. Expects Delay in Filing Financial Statements.

Kolibri Global Energy Inc. Expects Delay in Filing Financial Statements.

Kolibri Global Energy Inc., a North American energy company, has announced that it will likely miss its filing deadline for audited annual financial statements and related documents by April 2, 2024, as required by Canadian securities laws. In response to this delay, the Company has applied for a Management Cease Trade Order (MCTO) under National Policy 12-203, awaiting approval from the British Columbia Securities Commission. This delay comes as the Company engaged a new auditor, Marcum LLP, to meet regulatory requirements for its listing on the NASDAQ stock exchange.

The Company’s decision to seek an MCTO underscores its commitment to financial compliance and transparency, ensuring accuracy for its shareholders. While the Company aims to file the required documents no later than May 31, 2024, it will adhere to alternative information guidelines until then, providing regular updates on its status. During the MCTO period, trading of the Company’s common shares on the Canadian Securities Exchange will remain open to the general public, but certain restrictions will apply to key executives and insiders.

Kolibri Global Energy Inc. continues its focus on energy projects in oil, gas, and sustainable energy, utilizing technical expertise to identify and acquire new projects. The Company’s shares are actively traded on the Toronto Stock Exchange and the NASDAQ, reflecting its dedication to growth and development in the energy sector. Despite the potential filing delay, management remains optimistic about the Company’s future plans and strategic initiatives, emphasizing their commitment to adhering to all regulatory requirements and financial reporting standards.

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