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Prime Drink Group Provides Bi-Weekly MCTO Status Report
The company expects to file its annual financial statements by Sept. 28 and will issue bi-weekly default reports until the order is revoked.
On July 30, the British Columbia Securities Commission granted Prime Drink Group Corp a management cease trade order , extending the filing deadline for annual financial statements to September 28, 2026.
Prime voluntarily applied for the order under National Policy 12-203 , which provides temporary filing relief while the company works toward completing its overdue Annual Financial Filings.
The company closed a non-brokered Unit Offering raising gross proceeds of $1,349,200, allocating $1.0 million to finalize creditor settlements and paying a 6% cash finders fee.
Chief Financial Officer Jean Gosselin and the Chief Executive Officer face trading restrictions until filings are submitted, though shareholder Olivier Primeau expressed a "strong vote of confidence" in the company's direction.
Prime will issue bi-weekly default status reports to satisfy alternative information guidelines under NP 12-203 until the Annual Financial Filings are successfully submitted.