ILA Provides Update on Filing of Financial Statements
08 6월 2020 - 10:00PM
iLOOKABOUT Corp. (TSXV:ILA; OTCQB:ILATF) (“ILA” or “the Company”)
wishes to provide an update on the coronavirus pandemic
("COVID-19") as it affects the status of the filing of its annual
financial statements and accompanying management's discussion and
analysis for the financial year ended December 31, 2019, and the
filing of its interim financial statements and accompanying
management's discussion and analysis for the three months ended
March 31, 2020.
On March 23, 2020, the Ontario Securities
Commission ("OSC") enacted Ontario Instrument 51-502 Temporary
Exemption from Certain Corporate Finance Requirements (the "OSC
Temporary Exemption") providing a 45-day extension for certain
periodic filings required to be made on or prior to June 1, 2020 as
a result of COVID-19. Such extension provides for a filing deadline
of (i) June 13, 2020 for the Company’s audited financial statements
and related management’s discussion and analysis for the year ended
December 31, 2019 (the “Annual Filings”), and (ii) July 14, 2020
for the Company’s financial statements and related management’s
discussion and analysis for the three months ended March 31, 2020
(the “Interim Filings”).
Due to significant timing and resource
challenges attributable to COVID-19, the Company has determined
that the above noted filing deadlines will likely not be
attainable. The Company and its external auditors are working
diligently to be in a position to file its Annual Filings by June
30, 2020, and its Interim Filings by July 31, 2020, being
approximately two weeks past the proscribed filing deadlines.
In the interim, management and other insiders of
ILA are subject to a trading black-out policy as described, in
principle, in section 9 of National Policy 11-207 Failure-to-File
Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company has submitted its application for a
Management Cease Trade Order to the Ontario Securities Commission
to allow continued trading of its securities, but for trading by
management and other insiders of ILA.
The Company confrms that it intends to satisfy
the provisions of the alternative information guidelines, as
specified in policy NP 12-203 Management Cease Trade Orders.
About ILA
ILA is a transformational data analytics
organization that provides transparency to the valuation of real
estate assets. ILA is a real estate valuation platform with
technologies that leverage the power of data designed to address
today's dynamic real estate valuation market. Our proprietary
innovative platform provides software and data licenses and
technology managed services to the real estate industry, serving
primarily the property lending and property tax sectors, both
public and private, in the United States (“US”) and Canada.
Accurate data and property valuations form the basis for our
clients to value assets, fund loans, securitize portfolios and to
analyze and update property tax assessments. As a fully integrated
valuation technology company, we are setting new standards in real
estate valuation quality and reliability. ILA is a brand built on
innovation, execution, accuracy, industry expertise and
forward-looking products and services.
ILA’s common shares are traded on the TSX
Venture Exchange under the symbol ILA and in the US on the OTCQB
under the symbol ILATF.
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.
Contact:
Gary Yeoman, CEO
gary.yeoman@ilookabout.com
416-347-7707
www.ilookabout.com
ILookabout (TSXV:ILA)
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ILookabout (TSXV:ILA)
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