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MAGNETIC NORTH ACQUISITION CORP. TO RESTATE AUDITED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2022 AND PROVIDES UPDATE ‎ON STATUS OF MANAGEMENT CEASE TRADE ORDER

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CALGARY, AB and TORONTO, June 17, 2024 /CNW/ – Magnetic North Acquisition Corp. (TSXV: MNC) (TSXV: MNC.PR.A) (“Magnetic North” or the “Company”) announces that it has agreed with its auditors to restate its financial statements for the year ended December 31, 2022 (the “2022 Restatement”). The decision to restate followed a comprehensive review conducted by the Company’s auditor and management’s consideration of the classification of the Company’s Series A Preferred Shares as equity, as opposed to a non-current financial liability, which is how the Series A Preferred Shares were previously classified. The impact of this restatement will be confirmed and presented as part of the finalization of the Company’s 2023 audited financial statements. 

The Company is also providing an update on the status of the management cease trade order granted on May 7, 2024 (the “MCTO”) by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), following the Company’s announcement on May 2, 2023 (the “Default Announcement”) that it was unable to file its audited annual financial statements, ‎management’s discussion and analysis and related certifications for the year ended December ‎‎31, 2023 (the “Documents”) ‎on or before April 29, 2024, as required under applicable securities laws. The Company expects to file the Documents by July 15, 2024, which will include the 2022 Restatement. 

There are no material changes to the information contained in the Default Announcement, other than the 2022 Restatement. In addition: (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Documents; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About Magnetic North Acquisition Corp.

Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success. With offices in Calgary and Toronto, our experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North common shares and preferred shares trade on the TSX Venture Exchange under the stock symbol MNC and MNC.PR.A, respectively. The TSX Venture recently announced that Magnetic North is a “2021 TSX Venture 50” recipient. For more information about Magnetic North, visit its website at www.magneticnac.com. Magnetic North’s securities filings can also be accessed at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Certain statements in this news release are “forward-looking statements”, which reflect current ‎expectations of the ‎management of Magnetic North regarding future events or Magnetic North’s ‎future performance. All statements other than ‎statements of historical fact contained in this news ‎release may be forward-looking statements. Such forward-looking ‎‎statements involve known and unknown risks, uncertainties and other factors that may cause ‎actual results or ‎events to differ materially from those anticipated in the forward-looking ‎statements.  Magnetic North believes that the ‎expectations reflected in such forward-looking ‎statements are reasonable, but no assurance can be given that these ‎expectations will prove to ‎be correct and such forward-looking statements should not be unduly relied upon. The ‎forward-‎looking statements are expressly qualified in their entirety by this cautionary statement. The ‎forward-‎looking statements are made as of the date of this news release and Magnetic North ‎assumes no obligation to update or ‎revise them to reflect new events or circumstances, except ‎as expressly required by applicable securities law. ‎Further information regarding risks and ‎uncertainties relating to Magnetic North and its securities can be found in the ‎disclosure ‎documents filed by Magnetic North with the securities regulatory authorities, available at ‎www.sedarplus.ca.

SOURCE Magnetic North Acquisition Corp.

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SEABOARD CORPORATION REPORT OF EARNINGS AND DIVIDEND DECLARATION

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MERRIAM, Kan., April 28, 2025 /PRNewswire/ — The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB), with offices at 9000 West 67th Street, Merriam, Kansas, for the three months ended March 29, 2025 and March 30, 2024, in millions of dollars except share and per share amounts.

Three Months Ended

March 29,

March 30,

2025

2024

Net sales

$

2,316

$

2,191

Operating income (loss)

$

38

$

(20)

Net earnings attributable to Seaboard

$

32

$

22

Earnings per common share

$

32.95

$

22.66

Average number of shares outstanding

971,055

971,055

Dividends declared per common share

$

2.25

$

2.25

Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.

Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on May 19, 2025 to stockholders of record at the close of business on May 8, 2025.

View original content:https://www.prnewswire.com/news-releases/seaboard-corporation-report-of-earnings-and-dividend-declaration-302440190.html

SOURCE Seaboard Corporation

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Orange County Fire Authority in California Selects MSA Safety’s G1 Breathing Apparatus to Help Protect Firefighters

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PITTSBURGH, April 28, 2025 /PRNewswire/ — Global safety equipment manufacturer MSA Safety, Inc. (NYSE: MSA) today announced it has secured a $10 million contract to provide respiratory protective equipment to the Orange County Fire Authority in Southern California. With this order, MSA continues to strengthen its breathing apparatus market presence in the Southern California region. Over the past two years, MSA Safety has secured similar breathing apparatus contracts with both the Los Angeles County and the Los Angeles City Fire Departments. 

The decision to upgrade Orange County Fire Authority’s self-contained breathing apparatus (SCBA) technology was made after a comprehensive evaluation process. Factors that influenced the department’s selection of the G1 SCBA were its advanced technology and connectivity features, as well as the ability to upgrade the breathing apparatus with new technologies as they become available.

With 15 U.S. patents, the G1 SCBA is the centerpiece of the MSA Connected Firefighter platform – a suite of safety technologies that work in concert to significantly improve firefighter monitoring, accountability and communication. The SCBA utilizes embedded technology to transmit important data, including cylinder air pressure, battery status and various alarm indicators, to incident commanders via MSA’s FireGrid® system. The FireGrid system is a software service that gives incident commanders the ability to evaluate and manage on-scene fire crews in real time.

“When it comes to protecting first responders, our vision at MSA Safety is to provide fire departments with the most advanced and versatile safety solutions available today,” said Bob Apel, MSA Safety Executive Director, Global Fire Service and Digital Experience. “Our G1 breathing apparatus is a fitting example of that vision. The platform provides ongoing value to fire departments because it enables us to continuously add new technologies to the SCBA that enhance firefighter health and safety. That vision is consistent with our growth strategy to be the leading innovator in head-to-toe protection for the fire service.”

Also included among the G1 SCBA’s advanced features is an integrated thermal imaging camera (iTIC). The iTIC places thermal imaging capability into the hands of individual firefighters, as opposed to sharing a handheld device among multiple firefighters. The camera is part of the SCBA control module that houses a video screen and other electronics that enable many G1 features.

Founded in 1995, the Orange County Fire Authority (OCFA) is a regional fire service agency that serves 23 cities and all unincorporated areas within Orange County. With 78 fire stations, the OCFA protects nearly two million residents. It is a premier public safety agency providing superior fire protection and medical emergency services to its communities.

“We are incredibly proud to establish this new partnership with the Orange County Fire Authority,” said Joann Serakowski, MSA Safety Vice President, Fire Service – U.S. and Canada. “Most importantly, we’re honored the department has entrusted MSA with the responsibility of protecting the men and women who help keep the residents of Orange County safe each day.”

Delivery of the new SCBA units is expected to be completed in 2025.

About MSA Safety
MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced safety products, technologies and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2024 revenues of $1.8 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania and employs a team of over 5,000 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/orange-county-fire-authority-in-california-selects-msa-safetys-g1-breathing-apparatus-to-help-protect-firefighters-302440185.html

SOURCE MSA Safety

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NaaS Technology Inc. Announces Completion of ADS Ratio Change

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BEIJING, April 28, 2025 /PRNewswire/ — NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S.-listed EV charging service company in China, today announces that the previously announced change of the ratio (the “ADS Ratio”) of its American depositary shares (the “ADSs”) to its Class A ordinary shares has taken effect at the open of business on April 28, 2025 (U.S. Eastern Time) (“Effective Date”).

The change in the ADS Ratio, from one ADS to 200 Class A ordinary shares to one ADS to 800 Class A ordinary shares, had the same effect as a one-for-four reverse ADS split. The exchange of one new ADS for every 4 previously-held ADSs occurred automatically upon effectiveness, with the previously-held ADSs cancelled and the new ADSs issued by JPMorgan Chase Bank, N.A., the depositary bank for the Company’s ADS program.

As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be proportionally equal to or greater than 4 times the ADS trading price before the change.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company is one of the leading providers of new energy asset operation services. The Company utilizes advanced technology to intelligently match charging supply with demand, offering electric vehicle users a seamless, efficient, and smart charging experience. Furthermore, NaaS empowers charging stations and charging station operators to optimize their operations, driving greater efficiency and enhancing profitability.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com 

Media inquiries:
E-mail: pr@enaas.com 

View original content:https://www.prnewswire.com/news-releases/naas-technology-inc-announces-completion-of-ads-ratio-change-302439804.html

SOURCE NaaS Technology Inc.

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