Magnetic North Faces Trading Restrictions Amid Filings Delay

Magnetic North Acquisition Corp (TSE:MNC) has released an update.

Magnetic North Acquisition Corp. has announced the receipt of a management cease trade order (MCTO) from the Alberta Securities Commission due to a delay in filing its annual financial statements and other required documents for the year ended December 31, 2023. The MCTO prohibits company insiders from trading its securities until the filings are completed, which is expected by May 31, 2024, but does not affect non-insider shareholders’ ability to trade. The company is committed to providing bi-weekly updates during the MCTO period and will report any material information shared with creditors.

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