Red Deer-based Parkland Energy Services Inc. (TSXV: PKE) said Tuesday that cease trade orders issued against it by the Alberta and British Columbia securities commissions have been lifted.
The orders, which resulted from Parkland failing to file its 2011 financial statements and related documents, were revoked July 20 and 23, said the company. It added that the TSX Venture is undertaking a review and reinstatement, and that it anticipated that Parkland shares would resume trading thereafter.
Parkland said it plans to continue to reassess its operations and determine the best way to increase profitability and performance. It said it’s addressed the issues that led to the delay in releasing the 2011 financial statements and doesn’t anticipate a similar occurrence.
Parkland has an industrial paint and sandblasting operation.