Champignon Brands (CAN:SHRM / US:SHRMF) announced on Monday that it has been placed under a cease trade order (CTO) by the B.C. Securities Commission. The Commission issued the order due to a failure by the company to make necessary disclosures with respect to recent acquisitions.
Specifically, the B.C. Securities Commission cited the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd., and Tassili Life Sciences Corp. Trading of SHRM shares on the Canadian Securities Exchange has been suspended.
Champignon Brands is fully cooperating with this review. It is endeavoring to satisfy the requirements of the Securities Commission in order to resume full trading at the earliest possible date.
The B.C. Securities Commission issued the CTO on June 19, 2020. It will remain in effect until the necessary reports are filed with the Commission.