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A.C.L. Construction Ltd.
Symbol ACL
Shares Issued 73,638,741
Close 2026-09-28 C$ 0.10
Market Cap C$ 7,363,874
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ORIGINAL: A.C.L. Construction Ltd. Announces Application for Management Cease Trade Order

2026-09-28 22:50 ET - News Release

(via TheNewswire)

A.C.L. Construction Ltd.
  

FORT ST. JOHN, British Columbia – TheNewswire - September 28, 2026 – A.C.L. Construction Ltd. (TSXV: ACL) (the " Corporation ") announces that it has made an application to the British Columbia Securities Commission to approve a temporary management cease trade order (the “ MCTO ”) under National Policy 12-203 Management Cease Trade Orders (“ NP 12-203 ”), which, if granted, will prohibit trading in securities of the Corporation by the chief executive officer (the “ CEO ”) and chief financial officer (the “ CFO ”) of the Corporation until such time as the Required Filings (as defined below) and all continuous disclosure requirements have been filed by the Corporation, and the MCTO has been lifted. During the period in which the MCTO is effective, persons who are not subject to the MCTO will continue to be able to trade in the Corporation’s securities. The MCTO application has been made, but there is no guarantee or assurance that the MCTO will be granted.

 

The Corporation expects it will be unable to file its audited financial statements for the year ended May 31, 2026, and the management's discussion and analysis and related CEO and CFO certificates for this period (collectively, the " Required Filings ") before the September 28, 2026 filing deadline (the " Filing Deadline ").

 

The reasons for the default in filing of the Required Filings prior to the Filing Deadline related primarily to matters concerning revenue. In consultation with its auditor, the Corporation determined that the revenue recognition policy utilized in prior years could not be continued into the current financial year. As of the date hereof, the Corporation has not determined whether a restatement will be required.

The Corporation anticipates that it will be in a position to remedy the default by filing the Required Filings on or before November 27, 2026. The MCTO will be in effect until the Required Filings are filed and the MCTO is revoked.

 

The Corporation intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as the Required Filings remain outstanding.

 

The Corporation confirms that it is not subject to any insolvency proceeding as of the date hereof. The Corporation also confirms that there is no other material information concerning the affairs of the Corporation that has not been generally disclosed as of the date herein.

 

For more information, please contact:

John McPherson

Chief Executive Officer and Director

Email: john@aclcon.ca

Phone: 250-263-1205

 

Forward Looking Statements

This news release contains forward-looking statements relating to the expected timing of the filing of the annual audited financial statements and related management's discussion and analysis for the year ended May 31, 2026. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are risks detailed from time to time in the filings made by the Corporation with applicable securities regulatory authorities. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

 

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

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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