VANCOUVER, British Columbia–(BUSINESS WIRE)–Astron Connect Inc. (the “Company” or “Astron”) (TSX-V:AST) today announced that the British Columbia Securities Commission (“BCSC”) has revoked a cease trade order covering the company’s senior management after the filing of audited financial statements, management’s discussion and analysis and CEO/CFO certificates for the year ended June 30, 2018.
The shareholders of Sachiel Connect Inc. acquired control of Astron Connect Inc. (Exalt Capital Inc.) via a reverse takeover (“RTO”) effective August 28, 2018. Notwithstanding the adoption of Sachiel Connect’s year-end reporting date of September 30, the Company was still required to prepare audited annual financi
al statements for Exalt’s year ended June 30, 2018 even though the RTO was completed before the filing deadline of those financial statements. A management cease trade order was sought in order to avoid the issuance of a cease trade order that would have affected all shareholders. The Company completed the required filings on November 30, 2018 and the management cease trade order was revoked on December 4, 2018.
Although the Company has filed the annual financial statements of Exalt Capital for the year ended June 30, 2018, Astron is also required to file consolidated audited financial statements for the year ended September 30, 2018 which are due on January 29, 2019.
ABOUT ASTRON CONNECT
Astron Connect (TSX-V:AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron is the parent company of Sachiel Connect and Sachiel Water. Sachiel Connect brings Canadian food and beverage companies to the world through its extensive conn
ections and export logistics capabilities in China and emerging markets. Sachiel Water supplies China and other emerging markets with pure Canadian bottled spring water. For more information, visit www.astronconnect.com.
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S. Randall Smallbone
President and CEO