Peeks Social Ltd. Announces Application for Management Cease Trade Order
22 6월 2019 - 1:23AM
Peeks Social Ltd.. (the "
Corporation") (TSXV:
PEEK) announces that it made an application to the Ontario
Securities Commission to approve a temporary management cease trade
order ("
MCTO") under National Policy 12-203 Cease
Trade Orders for Continuous Disclosure Defaults ("
NP
12-203"), which, if granted, will prohibit trading in
securities of the Corporation by certain insiders of the
Corporation, whether direct or indirect. The Corporation
expects it will be unable to file its audited financial statements
for the year ended February 28, 2019, and the management’s
discussion and analysis and related Chief Executive Officer and
Chief Financial Officer certificates for this period (collectively,
the "
Required Filings") before the June 28, 2019
filing deadline (the "
Filing Deadline").
The Corporation's failure to file its Required
Filings by the Filing Deadline is due to a combination of factors
including the Change of the Corporation’s Chief Financial Officer
in the fall of 2018, the recent engagement of a new Auditor, and
the complexity added by the acquisition of Personas.com Corporation
in May of 2018 and the need to audit the consolidated results for
the year ended February 28, 2019.
The Corporation anticipates that it will be a
position to remedy the default by filing the Required Filings on or
about August 30, 2019. The MCTO will be in effect until
the Required Filings are filed. The Corporation
intends to satisfy the provisions of the alternative information
guidelines set out in sections 9 and 10 of NP 12-203 so long as the
Required Filings are outstanding.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this Release.
For further information, please contact:
Peeks Social Ltd.Mark Itwaru
Chairman & Chief Executive
Officer 416-639-5339
mark@peeks.com
David VinokurovDirector Investor
Relations416-716-9281davidv@peeks.com
Forward Looking StatementsThis
news release contains forward-looking statements relating to the
expected timing of the filing of the Annual Audited Financial
Statements and related Management’s Discussion and Analysis for the
year ended February 28, 2019. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Corporation's expectations are risks
detailed from time to time in the filings made by the Corporation
with securities regulations. Forward-looking statements contained
in this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news
release are made as of the date of this news release and the
Corporation will update or revise publicly any of the included
forward-looking statements as expressly required by Canadian
securities law.
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