Chesswood (TSE:CHW) has released an update.
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Chesswood Group Limited has been informed by the Ontario Securities Commission that it will receive a Failure to File Cease Trade Order due to the company’s inability to file its Q2 interim financial reports on time. This follows Chesswood’s prior announcement that it needs to restate its Q1 filings after discovering a breach of covenants in its credit facility. The company is working with its auditors to resolve these issues and will update the public as more information becomes available.
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