Eguana Technologies Inc. ("Eguana" or the "Company"), a leading developer and manufacturer of high-performance energy storage systems, announces today that the Company is anticipating a slight delay in filing its annual financial statements and accompanying management's discussion and analysis for the year ended December 31, 2023 (the "Annual Filings"), by the filing deadline on April 29, 2024 (the "Filing Deadline"), as required by National Instrument 51-102 Continuous Disclosure Obligations.
The reason for the anticipated delay is due to personnel changes within the Company's finance team, as well as general delays with the audit. Eguana will continue working closely with its auditor and is making every effort to file the Annual Filings in a timely fashion. The Company currently expects to file the Annual Filings by May 31, 2024, and will issue a news release announcing completion of such filing at that time.
Accordingly, the Company is applying to the Alberta Securities Commission, as its principal regulator and other applicable securities regulators, for a voluntary management cease trade order (the "MCTO"). If granted, the MCTO will stay in effect until the Annual Filings are filed. The issuance of the MCTO, if issued, does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company's securities. The application for the MCTO remains subject to the risk factors described in "Forward Looking Information" below, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the Company following the Filing Deadline.
The Company will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Order, until the Annual Filings have been completed. The guidelines, among other things, require the Company to issue bi-weekly default status reports, by way of a news release, so long as the Annual Filings have not been filed, and these will also be filed on SEDAR+.