Chesswood (TSE:CHW) has released an update.
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Chesswood Group Limited announces it will restate its financial statements and MD&A for Q1 2024 due to errors in borrowing base calculations, which affected its credit facility and operations of subsidiaries Pawnee Leasing and Rifco. The restatements are expected to include significant write-downs and revised disclosures. Chesswood’s management is reviewing past financials to determine if additional restatements are necessary.
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