The Alberta and Ontario securities commissions have revoked their respective cease trade orders against Silk Road Energy Inc. effective today. The company will set strategic directions in the coming weeks and consider divesting its current assets or raising capital to pay for their decommissioning and to further other corporate objectives. The company will also seek new opportunities in the oil and gas sectors, and explore opportunities in the mining and exploration sectors, including the acquisition of or joint venture in production and exploration concessions in these sectors. The company is looking for potential asset acquisitions that will generate future positive cash flows.
The commissions had issued a dual order to cease trading in the securities of Silk Road, directly or indirectly, until further notice on Feb. 1, 2019, which was partially revoked on Oct. 24, 2019. Silk Road had failed to meet the filing deadlines for the company’s audited annual financial statements, annual management’s discussion and analysis, and certification of annual filings for the year ended Sept. 30, 2018, as required by the securities laws of British Columbia, Alberta and Ontario.
The financial statements, the MD&A and the certifications were filed by the company, effective Nov. 30, 2020, along with the annual financial statements, management’s discussion and analysis, and certifications of annual filings for the fiscal year ended Sept. 30, 2019. On May 19, 2021, the company filed the annual financial statements, management’s discussion and analysis, and certifications of annual filings for the fiscal year ended Sept. 30, 2020. On May 26, 2021, the company filed three sets of interim financial statements for the periods ended June 30, 2020, March 31, 2020, and Dec. 31, 2019, as well as the related management’s discussion and analysis and certifications. On May 27, 2021, the company filed two sets of interim financial statements for the periods ended March 31, 2021, and Dec. 31, 2020, as well as the related, management’s discussion and analysis, and certifications. On June 30, 2021, the company amended and restated the MD&As for annual period ended Sept. 30, 2020, and the interim period ended March 31, 2021, and amended and restated interim financial statements for the period ended March 31, 2021, and filed the amended and restated MD&As and the amended and restated Q2 2021 FS on SEDAR with accompanying certifications of refiled annual filings. On Aug. 30, 2021, the company filed one set of interim financial statements for the period ended June 30, 2021, and Dec. 31, 2020, as well as the related management’s discussion and analysis and certifications. On Sept. 22, 2021, the company amended and restated the interim financial statements for the period ended June 30, 2021, and filed the amended and restated Q3 2021 FS on SEDAR with accompanying certifications of refiled interim financial statements.
The financial statements, the MD&A, the amended and restated MD&As, the amended and restated Q2 2021 FS, the certificates, the refiling certificates, the Q3 MD&A, the amended and restated Q3 2021 FS, and the Q3 refiling certificates are all available under the company’s profile on SEDAR.
Silk Road will hold its next annual general and special meeting on Nov. 30, 2021.