Khiron Life Sciences Corp (OTCMKTS:KHRNF) Stock On Watchlist After Recent News
On May 6, Khiron Life Sciences Corp (OTCMKTS:KHRNF) was in focus after it announced its application for a management cease trade order had been denied by the Ontario Securities Commission.
Trading Data
On Friday, KHRNF stock moved up 2.30% to $0.0320 with 31.55K shares, compared to its average volume 203.22K shares. The stock moved within a range of $0.0298 – 0.0327 after opening trade at $0.0313.
Khiron Life Sciences Announces Cease Trade Order
The order had been in place in relation to the company’s delay in the filing of its audited annual financial statement, management discussion and related certifications from the Chief Executive Officer and Chief Financial Officer for the fiscal year that ended on December 31, 2022. The prescribed deadline for the same had been May 1, 2023 but the company had been delayed in the filings because of a change in its CFO.
The Ontario Securities Commission did not believe that the company had met all the eligibility criteria regarding the management cease trade order that had been set out in the National Policy 12-203 – Management Cease Trade Orders.
Hence, it had issued a failure to file cease order under the provisions of the National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions due to its delay in filing the annual filings by the end of the deadline. It will stay in effect up until the annual filings are completed.
