GeneNews has MCTO lifted by OSC

2016-06-16 08:33 ET - News Release

Mr. James Howard-Tripp reports

GENENEWS MCTO LIFTED
The management cease-trade order imposed by the Ontario Securities Commission on GeneNews Ltd. has been lifted. With this resolution of the MCTO, members of management are no longer precluded from trading the company's common shares.

On March 29, 2016, GeneNews announced that it had been granted an MCTO by the OSC. The application for the MCTO was made in respect to the expected late filing of its annual financial statements, management's discussion and analysis, annual information form, and the related officer certifications for the financial year ended Dec. 31, 2015, beyond the filing deadline of March 30, 2016.

In accordance with the MCTO, GeneNews filed its annual filings on SEDAR on May 27, 2016. On June 15, 2016, the company also filed its first quarter 2016 results, related management's discussion and analysis, and officer certifications. GeneNews is now current on its disclosure.

Toronto Stock Exchange trading status
As announced in a press release dated May 19, 2016, the TSX has further extended its remedial review process for a period of 30 days to allow the company additional time to demonstrate compliance with the continued listing requirements of the TSX. The TSX currently intends to make a decision regarding the corporation's eligibility for continued listing on the TSX by June 17, 2016.
We seek Safe Harbor.