Not for dissemination in the United States of America
VANCOUVER, British Columbia, April 29, 2025 (GLOBE NEWSWIRE) — Aja Health and Wellness Inc. (“Aja” or the “Company”) (TSXV:Aja) announces that further to its April 17, 2025 news release, it has filed an amended application to the Alberta Securities Commission (the “ASC“) seeking a management cease trade order (the “MCTO“) under National Policy 12-203 – Management Cease Trade Orders.
Aja has made an application seeking a MCTO from the ASC because the Company anticipated being unable to file its annual audited financial statements for the financial year ending December 31, 2024, including the related management’s discussion and analysis and certifications from the CEO and CFO (the “Required Annual Filings“), in time to meet the April 30, 2025 filing deadline. The delay in filing the Required Annual Statements is largely related to the fact that the Company’s auditor is seeking guidance from the auditor’s technical committee with respect to the characterization of the previously announced reverse takeover transaction, which closed on September 17, 2024 (the “RTO“). The auditor is considering whether the RTO can be characterized as a reverse takeover for accounting purposes, which may significantly change the Required Annual Filings of Aja due to be filed. The Company expects to file the Required Annual Filings on or before June 13, 2025.
While the MCTO restricts all trading in securities of the Company by executive officers of the Company until the MCTO is no longer in effect, regular trading by current and future investors outside the Company continues as normal. The MCTO will be in effect until two full business days after the Required Annual Filings are filed.
Until the Required Annual Filings are filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines set out in National Policy 12-203 – Management Cease Trade Orders.
The Company confirms that as of the date of this news release there are no insolvency proceedings against the Company and, other than what was disclosed in prior press releases, there have been no material business developments since the filing of the Company’s latest interim financial report.
On behalf of the Board of Directors
“Sanjeev Parsad”
Sanjeev Parsad
President, CEO and Director
The above may contain “forward-looking information” within the meaning of applicable securities laws. When used in this address, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date of publication of this information and the Company undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
Sanjeev Parsad, President and CEO
Phone: (604) 678.9115
Fax: (604) 678.9279
E-mail: sparsad@ajahw.com
Web: www.ajahw.com
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