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TSX Symbol "BRY"
EDMONTON, April 3, 2020 /CNW/ - Bri-Chem Corp.
("Bri-Chem" or "Company") (TSX: BRY), a leading North
American oilfield chemical distribution and blending company, today
provided an update on the timing of its regulatory filings. As a
result of COVID‐19 pandemic
developments, the Canadian Securities Administrators
recently granted blanket relief (the "Blanket Relief") for all
market participants, providing up to a 45‐day extension for
periodic filings normally required to be made on or before
June 1, 2020.
In accordance
with the Blanket Relief, the Company will be delaying the filing of its audited annual
financial statements or the year ended December 31, 2019, its annual
management's discussion and
analysis for the corresponding period, the
related management certifications of annual filings and its annual
information form (collectively, the "Filings"). The Company expects
to be able to complete the Filings on or before May 14, 2020 and confirms there have been no
material business developments since the release of its third
quarter results in November 2019. The
Company's insiders and management remain restricted from trading in
the Company's securities pursuant to the Company's insider trading
policy that reflects the principles in section 9 of National Policy
11-207 Failure-to-File Cease Trade Orders and Revocations in
Multiple Jurisdictions.
About Bri-Chem
Bri-Chem has established itself, through a combination of
strategic acquisitions and organic growth, as the North American
industry leader for wholesale distribution and blending of oilfield
drilling, completion, stimulation and production chemical fluids.
We sell, blend, package and distribute a full range of drilling
fluid products from 26 strategically located warehouses throughout
Canada and the United States. Additional information
about Bri-Chem is available at www.sedar.com or at Bri-Chem's
website at www.brichem.com.
To receive Bri-Chem news updates send your email to
ir@brichem.com.
Neither the TSX nor its Regulation Services
Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this
release.
Forward Looking Statements
Certain statements contained in this press release constitute
forward-looking information or forward-looking statements
(collectively, "forward-looking statements"). These statements
relate to future events or future performance. The use of any of
the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking statements and are based on the Company's
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially.
In particular, this press release contains forward-looking
statements relating to the completion of the Filings.
Although the Company believes that the
expectations and assumptions on which such forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward looking statements because the Company can
give no assurance that they will prove to be correct. By their
nature, such forward-looking statements are subject to various
risks and uncertainties, which could cause actual results to differ
materially from the anticipated results or expectations expressed
herein. These risks and uncertainties, include,
but are not limited to general economic conditions,
industry conditions,
access to capital markets, volatility of
commodity prices, market forces, competition from other industry
participants and regulatory conditions. Readers are cautioned
not to place undue reliance on this forward-looking information,
which is given as of the date it is expressed in this press release
or otherwise. Except as required by applicable law, the Company
does not undertake any obligation to publicly update or to revise
any of the forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement.
SOURCE Bri-Chem Corp.