Cease Trade Order Issued for TGS Esports Inc.
TGS Esports Inc. (“TGS” or the “Company“) (TSXV: TGS) (OTCQB: TGSEF) (FRA: 5RH) announces that the British Columbia Securities Commission (the “BCSC“) has issued a Cease Trade Order (the “CTO“) as a result of the Company’s failure to file its audited financial statements for its year ended June 30, 2021 and related management’s discussion and analysis (collectively, the “Annual Filings“) by October 28, 2021, being the date that such filings were due under applicable Canadians securities law requirements.
The cause of the delay is not material to the Company or its operations and is primarily due to the accounting treatment of the previously announced acquisitions of Pepper Esports, Volcanic Media, Even Matchup Gaming, and strategic investment in Mountain Side Games.
Revocation of the CTO is expected to occur shortly after the filing of the required Annual Filings, at which time TGS’s common shares will resume trading on the TSX Venture Exchange.
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