The BCSC issued its order May 26. The U.S. Securities and Exchange Commission (SEC) issued its own temporary suspension of trading of the company’s securities, also dated May 26.
The SEC said the temporary suspension resulted from “questions regarding the accuracy and adequacy of information in the marketplace about Micron Waste and its securities” since at least April.
“Those questions relate to representations concerning Micron Waste’s acquisition of Covid Technologies Inc., and Covid Technologies’ present ability to rapidly manufacture personal protective equipment to meet the needs of the global medical community during the COVID-19 pandemic,” the SEC said.
Micron Waste Technologies is listed on the Canadian Securities Exchange.
The BCSC may issue a halt trade order when it becomes aware of information, other than information filed under the Securities Act, that when disclosed to the public may cause unusual trading of an issuer’s securities. BCSC halt trade orders can last no more than 15 business days. The BCSC order against trading of Micron Waste securities extends until June 16.
The BCSC would like to thank the SEC and the U.S. Financial Industry Regulatory Authority for their assistance in this matter.