The manufacturer of snowmobiles and electric watercraft Taïga, under financial pressure, will delay the release of its fourth quarter results, which was initially scheduled to take place this Thursday.
In a press release published at the close of the Toronto Stock Exchange, the Quebec company indicated that it was “working on finalizing its financial statements”, without providing further details. Investors will have to wait until next Tuesday.
On Bay Street, Taïga shares ended the session at 63 cents, down 3%. This gives the young company a stock market value of around 20 million.
The Quebec manufacturer laid off around thirty employees last February in order to reduce its financial tensions. On March 11, he also obtained another $5.25 million from the federal company Export and Development Canada (EDC).
This financial assistance took the form of an addition to a loan of 15 million granted in September 2023 by EDC. It also comes barely a year after Taïga benefited from an injection of funds totaling $40.1 million from the state-owned company Investissement Québec and the investment firm Northern Private Capital.