Calgary, Alberta--(Newsfile Corp. - May 12, 2015) - Nextraction Energy Corp. (TSXV: NE) (the "Company" or "Nextraction") announces that the TSX Venture Exchange (the "Exchange") has suspended trading in the Company's securities as a result of a cease trade order ("CTO") issued by the Alberta Securities Commission on May 6, 2015. The CTO was issued due to the Company's inability to file its annual financial statements for the year ended December 31, 2014 and its related Management's Discussion and Analysis and Officer certifications (the "Required Filings") by the prescribed filing deadline of April 30, 2015 (the "Filing Deadline").
Despite its efforts, the Company is currently not in a position to file the Required Filings, primarily as a result of incomplete access to information from the operator of the Company's light oil property in Provost, Alberta and due to working capital restrictions. The Company is currently working to resolve these issues.
Reinstatement of trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
For further information contact us by email at info@nextraction.com or call:
Scott Badcock, CACFO
Phone: (403) 514-2399
