Peeks Social Provides Update on Status of Management Cease Trade Order
23 Agosto 2019 - 8:00AM
Peeks Social Ltd. (the "
Corporation", or
“
Peeks”) (TSXV: PEEK, OTCQB: PKSLF) is providing
this update on the status of the action taken by the Ontario
Securities Commission (“OSC”) in issuance of 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 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 and will continue to issue bi-weekly default status
reports for so long as it remains in default of its’
requirements.
During the MCTO, the general investing public
will continue to be able to trade in the Company’s listed common
shares. However, the Company’s chief executive officer and
chief financial officer will not be able to trade in the Company’s
shares.
The Corporation has filed for an extension of
the MCTO to September 16, 2019, due to particular issues regarding
application of accounting standards IFRS 3 and IFRS 10 as they
relate to the amalgamation of Personas.com and Peeks Social Ltd.
No assurance can be provided at this time that the OSC will
grant the extension of the MCTO. A full Cease Trade order may
be put in place until the filing of all outstanding audited
financial documents.
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 Vinokurov Director Investor Relations 416-716-9281
davidv@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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