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FluroTech Ltd. (TSXV: TEST.H) ("FluroTech" or the "Company") is pleased to announce that it has applied to the NEX board of the TSX Venture Exchange ("TSXV") for the resumption of trading of its common shares. The Company's shares were halted on December 20, 2023, pending completion of a proposed transaction with Great Slave Helicopters 2018 Ltd. ("GS Heli"). The definitive agreement with GS Heli was terminated on October 7, 2024 due to unfavorable market conditions and events outside the Company's control.
The Company is actively working with the TSXV to resume trading of its common shares on the NEX board. The Company remains committed to identifying and evaluating new assets and business opportunities to support its reactivation and growth.
AGM Deficiency
The Company acknowledges that it has not held its annual general meeting ("AGM") within the required timeframe, resulting in an AGM deficiency under TSXV policies. The last AGM was held on May 31, 2024. The Company intends to call and hold its AGM as soon as practicable, with notice to shareholders to follow. The AGM will address the election of directors, appointment of auditors, and other matters required for compliance.
Appointment of Chief Financial Officer
The Company is pleased to announce that effective October 6, 2025, Reem Chalhoub has been appointed as the new Chief Financial Officer. Reem Chalhoub succeeds Curtis Smith, who has departed the Company. The Board thanks Curtis for his contributions and wishes him well in his future endeavors.
Reem Chalhoub is a seasoned accountant with over 10 years of executive financial leadership. As a strategic financial leader, she has successfully secured more than $50 million in financing and led private equity business buyouts, bringing deep expertise in M&A transactions, investor relations, and corporate restructuring. Reem launched her career at PwC, where she worked with multinational corporations such as Bayer and Ford, contributing to large-scale audits and complex public financial reporting. She later served as the Head of Corporate Finance at Ecolab Canada, driving strategic financial initiatives at a national level. Reem offers CFO services, partnering with CEOs and investors to craft and execute high-impact financial strategies. Her ability to scale businesses and optimize financial performance makes her a trusted advisor to growth-focused companies.
"Adding Reem to the team helps FluroTech reduce costs and position itself strategically as we continue to explore reverse merger opportunities. The Company is always assessing opportunities across different industries, but with gold hitting record highs, we see real potential here in Canada to partner with a mining company that brings strong technical expertise and a long term vision for growth," said Richard Paolone, CEO of the Company.
About FluroTech Ltd.
FluroTech Ltd. was incorporated under the Business Corporations Act (Alberta) on May 24, 2018. FluroTech is currently inactive with limited operations, and the Common Shares of FluroTech are currently halted on the NEX. FluroTech has no commercial operations and no assets other than cash and is a reporting issuer in the provinces of Alberta and British Columbia.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information contact:
Richard Paolone
Chief Executive Officer
FluroTech Ltd.
c/o Oakridge Law LLP
151 Randall Street, Suite 201
Oakville, ON L6J 1P5
E-mail: rpaolone@oakridgelawllp.com
Ph: (416) 258-3059
Forward-Looking Statements
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information in this news release includes, but is not limited to, statements regarding the application for resumption of trading on the NEX board, the Company's intention to call and hold an AGM, and the Company's strategic focus on potential partnerships with mining companies. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279968
