Aurora Solar Technologies Reinstatement of Trading Update
Aurora Solar Technologies Inc. (TSXV: ACU) (the "Company") announces that failure-to-file cease trade orders issued by the British Columbia Securities Commission and the Alberta Securities Commission against the Company as a result of the Company's failure to file its audited financial statements, management discussion & analysis and related officer certifications for the year ended March 31, 2023 was revoked on September 6, 2023.
In addition, the Company informed the TSX Venture Exchange (the "Exchange") that it had determined that one of its independent directors was considered to be no longer independent. As a result, the Company is not in compliance with Exchange Policy 3.1 Sections 5.7 and 21(b) as it does not have sufficient independent directors at this time. In order to rectify this, the Company had established a director nominations committee to correct this deficiency which is expected to be completed on the earlier of its next annual general meeting or December 31, 2023. The Company is focussed on attracting the best possible independent board director candidates and encouraging board rotation to support its growth and opportunities in combination with developing strong corporate governance practices.
The Company anticipates that the Exchange will reinstate trading of the Company's common shares by September 15, 2023.
Aurora | www.aurorasolartech.com
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