Northwire Canada EditionWednesday, July 15, 2026
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FG 0.035 +0.0% EFR 17.52 −5.8% IVN 10.49 −2.7% MASS 0.090 +0.0% NTH 0.160 −3.0% LIF 26.66 −2.0% CPAU 0.155 +0.0% PTX 0.110 +0.0% VENT 0.160 +0.0% ANK 0.280 −3.5% ODV 3.26 −3.3% MINK 0.105 +0.0% ZEN 0.660 +3.1% LCE 0.250 +4.2% CBA 0.085 +0.0% SGU 0.040 +0.0% FG 0.035 +0.0% EFR 17.52 −5.8% IVN 10.49 −2.7% MASS 0.090 +0.0% NTH 0.160 −3.0% LIF 26.66 −2.0% CPAU 0.155 +0.0% PTX 0.110 +0.0% VENT 0.160 +0.0% ANK 0.280 −3.5% ODV 3.26 −3.3% MINK 0.105 +0.0% ZEN 0.660 +3.1% LCE 0.250 +4.2% CBA 0.085 +0.0% SGU 0.040 +0.0%
Management

Purebread Brands receives MCTO

By The Northwire Desk — AI Analysis Aug 01, 2025 · 00:57 BRED · 0.07 Purebread Brands Inc
BRED · Price

Executive Summary

  • Purebread Brands Inc. has been granted a Management Cease Trade Order (MCTO) by the British Columbia Securities Commission due to the delay in filing its audited annual financial statements, MD&A, and executive certifications for the fiscal year ended March 31, 2025.
  • The filing delay was caused by a working capital shortfall that prevented the timely engagement of an auditor; the company has since secured loan financing to cover audit fees and expects the audit to be completed by the MCTO relief period ending September 29, 2025.
  • Concurrent with the regulatory update, the company announced the resignations of board members Andrew Barnes and Marija Radulovic-Nastic.

Key Details

  • Regulatory Action: Management Cease Trade Order (MCTO) granted under National Policy 12-203.
  • Reason for MCTO: Failure to file required documents (audited annual financial statements, MD&A, CEO/CFO certifications) for the financial year ended March 31, 2025, by the July 29, 2025 deadline.
  • Root Cause: Working capital shortfall delayed the engagement of the auditor.
  • Remediation: Loan financing secured to cover audit-related fees; audit process is now underway.
  • Deadline: Audit expected to be completed within the relief period ending September 29, 2025.
  • Trading Status: General public can continue to trade common shares freely.
  • Restricted Trading: Interim CEO, interim CFO, and other designated directors/officers are prohibited from trading shares while the MCTO is in effect.
  • Compliance Measures: Company will issue biweekly default status reports in the form of news releases.
  • Insolvency Status: No insolvency proceedings are currently active against the company.
  • Board Changes: Andrew Barnes and Marija Radulovic-Nastic have resigned from the board of directors.

Notable Quotes

  • "On behalf of Purebread and our stakeholders, I would like to thank Andrew and Marija for their service and counsel during a critical stage in our development... We are grateful for their support and insights, and we wish them continued success in their future endeavours." — Amrit Maharaj, Interim Chief Executive Officer
Read the original news release →

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