- 4Front Ventures (CSE: FFNT) (OTCQB: FFNTF) faces a suspension of trading due to a delayed financial filing.
- The Ontario Securities Commission (OSC) rejected 4Front's application for a management cease trade order (MCTO).
- 4Front Ventures can have the order revoked by submitting the necessary documents within 90 days, without additional fees.
4Front Ventures Corporation (CSE: FFNT) (OTCQB: FFNTF) has announced an update on its management cease trade order (MCTO) application situation. The company had initially applied for an MCTO with the Ontario Securities Commission (OSC) on April 16th, due to delays in filing its 2024 annual financial statements. However, the OSC has found the company ineligible for this order under National Policy 12-203, following their review of the company’s trading activities.
As a result, the OSC will not proceed with reviewing the MCTO application and will instead move forward with issuing a failure-to-file cease trade order (FFCTO) if the necessary filings are not completed by the April 30, 2025 deadline. This FFCTO will result in a suspension of 4Front’s trading activities until the financial documents are submitted.
The company is allowed to apply for revocation of the FFCTO by filing the outstanding documents within 90 days of the FFCTO date, which can be done without submitting a separate application or incurring additional fees. This provides a streamlined path for 4Front Ventures to resume trading on the stock market following compliance with the filing requirements.
4Front Ventures, a multi-state cannabis operator known for its cultivation and production efficiencies, continues to engage with shareholders and stakeholders as it navigates through this regulatory compliance challenge.
