Preferred Dental Announces Manitoba and Ontario Securities Commissions Approval of Partial Rescission of Cease-Trade Order Originally Issued January 31, 2020 | 2021-07-23 | Press Releases

(The press wire)

Winnipeg Manitoba – The press wire – July 2nd3, 2021 – Preferred Dental Technologies Inc. (“Company”) (CSE: PDTI) (CNSX: PDTI.CN) we (OTC: PDTTF) is pleased to announce that indeed July 22, 2021, the Manitoba and Ontario securities commissions approved a partial rescission of the cease trade order issued on January 31, 2020. The Partial Revocation Order (the “Revocation & CloseCurlyDoubleQuote;) was issued in accordance with the securities laws of the Province of Manitoba and the Province of Ontario, details of which are set out below.


Preferred Dental Technologies Inc. (“Preferred & CloseCurlyDoubleQuote;) is subject to a prohibition on depositing transactions (the FFCTO) issued by the regulator or securities authority of each of the provinces of Manitoba (the body a Decider) respectively on January 31, 2020. Preferred asked each of the Decision-makers for an order for partial revocation of the FFCTO. The order issued on July 22, 2022 is the order of the principal regulator and attests to the decision of the decision maker in Ontario.

This decision was based on the following facts represented by Preferred:

a) Preferred was incorporated under the Business Corporations Act (British Columbia) on December 8, 2010.

b) Preferred’s head office is located in Winnipeg, Manitoba.

c) Preferred is currently a reporting issuer in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.

d) The authorized share capital of Preferred consists of an unlimited number of common shares without par value. Preferred currently has 74,126,668 common shares issued and outstanding (common shares). Preferred also has 5,900,000 stock options outstanding, exercisable at a price of $ 0.15 per share.

e) The FFCTO was issued due to Preferred’s failure to file its annual audited financial statements, annual management report and management report and the certification of annual filings for the year ended July 31, 2019 (documents not deposited).

f) As a result of the failure to file the Undocumented Documents, Preferred has not filed any other financial statements or continuous disclosure documents required by applicable securities legislation (along with the Undelivered Documents, the Information continuous not filed).

(g) Other than the failure to file undisclosed continuous information, Preferred is not in default of securities legislation in any jurisdiction and Preferred’s SEDAR and SEDI filings are up to date.

h) Preferred requested a partial revocation of the FFCTO in order to complete a private placement of common shares in the aggregate amount of $ 180,000 (the equity offering) and a debt securities offering by way of a promissory note non-convertible and unsecured in the aggregate amount of $ 21,000 (the debt securities offering and, with the equity offering, the private placement).

i) The Offering of Shares will be made to investors in all jurisdictions of Canada and, to a lesser extent, in certain US states, including Arizona. Deposits of applicable US securities related to the exemptions will be made, if necessary, for distributions made in the United States. The Debt Offer will be made to Preferred ‘auditor, Manning Elliott LLP, to cover unpaid fees due on audit fees from previous years.

j) The private placement will be effected in accordance with the exemption for accredited investors contained in section 2.3 of Regulation 45-106 respecting Prospectus Exemptions.

k) Preferred will, on the basis of the revocation, proceed with the private placement in order to allow it to have sufficient funds to prepare and file the undisclosed continuing disclosure and to request and receive a full revocation of the FFCTO.

l) Preferred intends to raise a total of $ 180,000 and use the proceeds to complete outstanding audits and management discussions and analyzes, as well as to cover filing fees, agent fees. transfer and maintain existing patents.

n) Preferred reasonably expects that the proceeds from the Private Placement will be sufficient to update its ongoing information and pay any unpaid charges. Preferred intends to seek a complete revocation of the FFCTO.

o) The Private Placement will be carried out in accordance with all applicable laws.

p) Preferred is issuing this press release as a condition of revocation and will continue to issue press releases, if any, regarding any material changes in its business.

Order summary

Each of the decision-makers was satisfied that an order for partial revocation of the FFCTO meets the test set out in the legislation for the decision-maker to make the decision and, therefore, the decision of the decision-makers under the legislation is that the FFCTO, made effect as of July 22, 2021 was partially revoked only to allow the private placement, provided that prior to the completion of the private placement, each investor (investor) in the private placement will receive:

a) a copy of the FFCTO;

b) a copy of this partial revocation order; and

c) Written notice from Preferred, to be acknowledged by each investor in writing, that all Preferred ‘securities, including securities issued under the private placement, will remain subject to the FFCTO until such orders are revoked and that the issuance of the partial revocation order does not guarantee the issuance of a full revocation in the future.

The Company looks forward to advancing its goal of obtaining a complete revocation of the cease trade order and requesting the re-listing of its shares on the Canadian Securities Exchange.

On behalf of the Council

Erik Siegmund,


About PDTI

Preferred Dental Technologies Inc. (PDTI) was formed to advance the development and commercialization of various scalable and disruptive technologies in the dental implant industry.



On behalf of Preferred Dental Technologies Inc.

Erik Siegmund

Chief Executive Officer

Email: [email protected]

Phone. : 204.691.3722

All product names referenced here are trademarks of their respective companies.

This press release may contain forward-looking information which does not consist of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release may include, without limitation, the objectives, goals or future plans of the Company. Factors that could cause actual results to differ materially from this forward-looking information include, without limitation, the risks set forth in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in the preparation of forward-looking information in this press release are reasonable, one should not place undue reliance on such information, which only applies as of the date of this press release. press release, and no guarantees can be made given that such events will occur within the timeframe disclosed or not at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange accepts any responsibility for the adequacy or accuracy of this release.

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