- Forte Group Holdings Inc. (FGHFF, Financial) delays filing of 2024 financial statements until May 5, 2025.
- The delay is due to increased audit activity concerning discontinued operations and subsidiary wind-downs.
- Potential FFCTO from British Columbia Securities Commission may restrict trading until filings are complete.
Forte Group Holdings Inc. (FGHFF), a diversified lifestyle and wellness consumer packaged goods company, has announced a delay in the filing of its audited financial statements for the fiscal year ending December 31, 2024. Initially due on April 30, 2025, the new filing deadline is set for May 5, 2025. The delay is attributed primarily to intensified audit processes related to the company's discontinued operations, including the voluntary dissolution and wind-down of non-core subsidiaries.
The strategic initiative by Forte Group aims to streamline operations and strengthen its balance sheet by reducing liabilities. Consequently, the British Columbia Securities Commission may issue a Failure-to-File Cease Trade Order (FFCTO), which would temporarily prohibit the trading of Forte Group's securities in Canada until the required filings are completed. The company is actively collaborating with its auditor, Davidson & Company LLP, to ensure the filings are submitted within the revised timeframe.
Forte Group remains dedicated to resolving outstanding audit items and will provide further updates as more information becomes available. The company continues to implement its strategic initiatives, focusing on operational efficiency and financial stability.
