Peeks Social Ltd. Receives Management Cease Trade Order
05 Julho 2019 - 5:00PM
Peeks Social Ltd. (the "
Corporation", or
“
Peeks”) (TSXV: PEEK, OTCQB: PKSLF) announces that
the Ontario Securities Commission has issued a Management Cease
Trade Order (“MCTO”) against the Corporation for failure to file
the following by June 28, 2019:
- audited annual
financial statements for the year ended February 28,
2019;
- management's discussion and
analysis relating to the audited financial statements for the year
ended February 28, 2019; and
- certification for the audit
financial statements for the year ended February 28,
2019.
The Corporation anticipates that it will be in 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.
Debt Conversion
The Company has also received notification from
holders of the Company’s senior secured convertible debentures
seeking conversion of part of their holdings.
The debentures issued in a series of two (2)
tranches on December 27, 2018 and January 11, 2019 have a term of
two years and bear interest at a rate of 8% per annum. Total
proceeds from both the tranches came to a total of $525,000.00, of
which $125,000.00 of the note is being converted as per the
provisions of the debenture. The conversion is set at a price
of $0.05 whereby a total of 2,500,000 shares will be issued to
holders of the debenture subject to TSX Venture Exchange
approval.
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 Officer416-639-5339 mark@peeks.com
|
David VinokurovDirector Investor
Relations416-716-9281davidv@peeks.com |
Forward Looking Statements
This 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.
Peeks Social (TSXV:PEEK)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Peeks Social (TSXV:PEEK)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
Notícias em tempo-real sobre Peeks Social Ltd da TSX Venture Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de