Texas, April 14, 2022 /CNW/ - NextPoint Financial
Inc. (TSX: NPF.U) (TSX: NPF.WT.U) ("NextPoint") announced
today an update on the status of the management cease trade order
granted by the Ontario Securities Commission (the "OSC"), as
NextPoint's principal regulator, on April 1,
2022 (the "MCTO") under National Policy 12-203 -
Management Cease Trade Orders ("NP 12-203"). As
announced on March 17, 2022 (the
"Default Announcement"), NextPoint made an application to
the OSC for the MCTO in connection with the filing of its audited
financial statements for the year ended December 31, 2021, the related management's
discussion and analysis and CEO and CFO certificates and its annual
information form for the year ended December
31, 2021 (such filings, collectively, the "Required
Documents") after the filing deadline of March 31, 2022. The management cease trade order
prevents the officers named in the order from trading in
NextPoint's securities but does not affect the ability of other
shareholders, including the public, to trade in securities of
NextPoint is continuing to work to complete the incorporation of
the annual results of its recently acquired subsidiary, Community
Tax LLC, into NextPoint's financial statements in accordance with
IFRS required to complete the Required Documents and currently
expects to be in a position to file the Required Documents within
30 days of the original filing deadline.
NextPoint confirms that other than as set out herein since the
date of the Default Announcement: (i) there has been no material
change to the information set out in the Default Announcement that
has not been generally disclosed; (ii) there has been no failure by
NextPoint in fulfilling its stated intentions with respect to
satisfying the provisions of the alternative information guidelines
set out in NP 12-203; (iii) there has not been any other specified
default by NextPoint under NP 12-203; and (iv) there is no other
material information concerning the affairs of NextPoint that has
not been generally disclosed.
NextPoint confirms that it will continue to satisfy the
provisions of the alternative information guidelines under NP
12-203 by issuing bi-weekly default status reports in the form of
news releases for so long as it remains delayed in meeting the
above noted filing requirements.
About NextPoint Financial Inc.
NextPoint is an all-inclusive marketplace for financial services
empowering hardworking and underserved consumers and small
businesses. NextPoint was formed through the July 2021 combination of Liberty Tax, a leading
provider of tax preparation services, with LoanMe, an online lender
and loan marketer followed by the December
2021 acquisition of Community Tax, an effective advocate for
tax debt resolution on behalf of customers.
SOURCE NextPoint Financial Inc.