TORONTO, June 8, 2020 /CNW/ - Fountain Asset Corp.
(TSX-V:FA) ("Fountain" or the "Company"), a merchant bank which
provides equity financing, bridge loan services and strategic
financial consulting services to companies across many industries
such as marijuana, oil & gas, mining, real estate,
manufacturing, retail, financial services, blockchain technology
and biotechnology, announces an update to its press release dated
April 24, 2020 in which the Company
reported that it is relying on the exemption provided in Ontario
Instrument 51-502 Temporary Exemption from Certain
Corporate Finance Requirements (and similar exemptions provided
by other Canadian securities regulators) (the "Blanket Relief") to
postpone the filing of (i) its audited annual financial statements
and management discussion and analysis ("MD&A") for the fiscal
year ended December 31, 2019 and
related certifications (collectively, the "Annual Filings"); and
(ii) its unaudited interim financial statements and MD&A for
the three month period ended March 31,
2020 and related certifications (collectively, the "Interim
Filings").
To update on the Company's April 24,
2020 press release, the Company has not yet filed the Annual
Filings and the Interim Filings and will be relying on the full
45-day extension granted by the Blanket Relief. The Company is
continuing to work diligently and expeditiously with its auditors
to file the Annual Filings on or before June
15, 2020 and the Interim Filings on or before July 14, 2020. Until the Company has filed
the Annual Filings and the Interim Filings, members of the
Company's management and other insiders are subject to a trading
blackout reflecting the principles contained in section 9 of
National Policy 11-207 Failure to File Cease Trade Orders
and Revocations in Multiple Jurisdictions.
Other than as previously disclosed by the Company, there have
been no material business developments since April 24, 2020.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
INFORMATION:
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to the anticipated date of filing of
the Annual Filings and the Interim Filings. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. Such
factors include, but are not limited to, the impact of the COVID-19
virus and amendments to reporting and other applicable requirements
as a result thereof, and general business, economic and social
uncertainties. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this news
release. Except as required by law, the Company assumes no
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by law.
SOURCE Fountain Asset Corp.