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Management

Maple Leaf Green files 2024 results; CTO to be revoked

By The Northwire Desk — AI Analysis Oct 13, 2025 · 03:26 MGW · 0.025 Maple Leaf Green World Inc
MGW · Price

Executive Summary

  • Maple Leaf Green World Inc. has filed its audited consolidated financial statements for the year ended December 31, 2024, and unaudited interim statements for the three and six months ended March 31, 2025, and June 30, 2025.
  • The completion of these filings positions the company to apply for the revocation of a cease trade order issued by the Alberta Securities Commission on May 6, 2025, which was due to delays in filing documents.
  • Independent auditor MS Partners LLP resigned effective September 8, 2025, citing a decision to leave the Canadian Public Accountability Board; the company has no disagreements with the former auditor and is currently seeking a successor.

Key Details

  • Financial Filings:
    • Filed audited consolidated financial statements and Management’s Discussion and Analysis (MD&A) for the fiscal year ended December 31, 2024.
    • Filed unaudited interim consolidated financial statements and MD&A for the three-month period ended March 31, 2025.
    • Filed unaudited interim consolidated financial statements and MD&A for the six-month period ended June 30, 2025.
    • Filings are available under the company's profile on SEDAR+.
  • Regulatory Status:
    • The company intends to submit an application promptly to revoke the cease trade order issued by the Alberta Securities Commission on May 6, 2025.
    • The original order was issued due to delays in filing certain documents under applicable securities laws.
    • Management is working with regulators to reinstate normal trading of the company's securities.
  • Auditor Changes:
    • MS Partners LLP resigned as independent auditor for the year ended December 31, 2024, via a letter dated September 8, 2025.
    • Reason for resignation: MS Partners is resigning from the Canadian Public Accountability Board to focus on new services and cannot perform the audit for the fiscal year ending December 31, 2025.
    • There were no disagreements or reportable events with MS Partners regarding the 2024 audit.
    • The Board of Directors has commenced the process of engaging a new independent auditor; an announcement will be made once the appointment is finalized.
  • Corporate Strategy:
    • Management remains focused on restoring full reporting compliance and resolving outstanding liabilities.
    • The company is seeking strategic financing and partnership opportunities to advance initiatives in the greenhouse, solar, and renewable energy sectors.

Notable Quotes

  • "We are pleased to have completed these filings, which provide transparency into our financial position and progress," said Raymond Lai, chairman of the board, president and chief executive officer of Maple Leaf. "We are moving swiftly to secure a new auditor to maintain our commitment to regulatory compliance and stakeholder confidence as we advance our growth initiatives in sustainable energy and agriculture."
Read the original news release →

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