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Edison Lithium Corp (OTCMKTS:EDDYF) (TSXV:EDDY) Stock Sees Selling Pressure At A Higher Level

Pete Matthews , , , , , , , ,

Edison Lithium Corp (OTCMKTS:EDDYF) (TSXV:EDDY) dropped 8% after announcing that it didn’t manage to submit its audited yearly financial results for the year ending September 30, 2021, and associated management discussions and analysis.

Market Stats

On Monday, EDDYF stock fell 8.30% to $0.1018 with more than 45K shares, compared to its average volume of 53K shares. The stock has moved within a range of $0.1018 – 0.1023 after opening trading at $0.1023.

Announces Late Filing of Annual Financial Statements and Management Cease Trade Order

Also, the company confirmed that it failed to file form 52-109FVI CFO and CEO Certification of Annual Fillings before or on the set deadline of January 28, 2022. Edison is cooperating with its auditor to ensure its files the annual filings before or on February 11, 2022.

In relation to this late filing, Edison has submitted an application to the British Columbia Securities Commission and relevant securities agencies seeking management cease trade order related to its securities on individuals that have been insiders, officers, and directors of Edison. According to the MCTO, the specified individuals should not trade on the company’s securities as long as the MCTO is in place or for such duration as the necessary filings have not been submitted. Therefore, investors should watch EDDFY.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.