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ARCPOINT PROVIDES UPDATE ON MANAGEMENT CEASE TRADE ORDER APPLICATION AND DELAY IN FILING ANNUAL FINANCIAL STATEMENTS
ARCpoint Inc.
Tue, July 28, 2026 at 4:30 AM GMT+5:30
3 min read
- ARC.V
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GREENVILLE, South Carolina, July 27, 2026 (GLOBE NEWSWIRE) — ARCpoint Inc. (TSXV: ARC) (the “Company” or “ARCpoint“) provides an update further to its news release dated July 15, 2026 (the “MCTO Application Announcement“) regarding its application for a management cease trade order and the anticipated delay in filing its annual financial statements, accompanying management’s discussion and analysis and related CEO and CFO certificates for the year ended March 31, 2026 (collectively, the “Annual Filings“), which are required to be filed on or before July 29, 2026 (the “Annual Filing Deadline“).
As disclosed in the MCTO Application Announcement, the Company had applied to the British Columbia Securities Commission (the “BCSC“), as its principal regulator, for a management cease trade order (“MCTO“) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). The Company has been advised by the BCSC that its application for an MCTO has been declined. In declining the application, the BCSC advised that, based on the information provided, it does not consider the Company to have the necessary financial resources in place to remedy its default as required under section 6(c) of NP 12-203. The Company has continued its efforts to secure the financial resources necessary to address the BCSC’s concerns but has not yet been able to do so.
The BCSC has further advised the Company that a failure-to-file cease trade order (“FFCTO”) will be issued against the Company if the Annual Filings are not filed by the Annual Filing Deadline
Unlike an MCTO, which would have restricted trading only by certain management and insiders of the Company, an FFCTO, if issued, would generally prohibit all trading in the Company’s securities by any person, including trades made through the TSX Venture Exchange or otherwise, for so long as the FFCTO remains in effect. The FFCTO would remain in effect until the audited Annual Filings and any other related documents have been filed and the FFCTO has been revoked by the BCSC. The terms of any FFCTO, including any exceptions, will be as determined by the BCSC.
As previously disclosed, the delay in completing the Annual Filings results from the Company’s lack of available funds to pay its auditors and the accounting personnel responsible for completing the audit and the Annual Filings. The Company has been working to secure the financial resources necessary to complete the audit and file the Annual Filings. As of the date of this news release, the Company has not secured those resources to the BCSC’s satisfaction, and the Company will not be in a position to file the Annual Filings by the Annual Filing Deadline and accordingly the Company expects that an FFCTO is likely to be issued.
