CARESPAN ANNOUNCES DELAY IN FILING ANNUAL FINANCIAL STATEMNETS AND CEASE TRADE ORDER
VANCOUVER, BC, May 6, 2024 /CNW/ – CareSpan Health, Inc. (TSXV: CSPN) (“Company” or “CareSpan”), announces that the TSX Venture Exchange (the “Exchange“) has suspended trading in the Company’s securities as a result of a Cease Trade Order (“CTO“) issued by the British Columbia Securities Commission due to the Company’s failure to file its annual financial statements for the year ended December 31, 2023, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Filings“) by the required filing deadline of April 29, 2024 (the “Filing Deadline“). The Company’s auditors require additional time to complete the audit and as a result, the Annual Financial Filings were not filed on or before the Filing Deadline.
The Company’s auditor is working diligently to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by May 10, 2024. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.
Reinstatement of trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
CareSpan is a healthcare technology and services company that has developed and deployed a unique, proprietary integrated digital care platform, the CareSpan Clinic-in-the Cloud™, that creates easy access to care for the underserved. With a patient-centric approach focused on improving health outcomes, CareSpan uses sophisticated digital tools and capabilities to improve patient outcomes in primary care, chronic care, urgent care, and mental health. In addition to the integrated digital care platform, CareSpan has built and deployed a business support infrastructure for its professional networks, American-Advanced Practice Network and AmericanMedPsych Network. American-Advanced Practice Network harnesses the clinical capabilities of Nurse Practitioners to address the shortage in primary and chronic care in the country. AmericanMedPsych brings together providers to tackle shortages mainly in mental health.
Clinic-in-the-Cloud is a trademark of CareSpan USA Inc., a subsidiary of CareSpan Health, Inc.
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated filing of the annual filings and the resumption of trading of the Company’s common shares is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.