Chemesis International Inc. (the “Company”) on October 29, 2021, announced a delay in the filing of its audited annual financial statements, related management’s discussion and analysis and supporting officer certificates for the financial year ended June 30, 2021 (the “Filings”). The Filings were required to be made with the relevant securities regulatory authorities on or before October 28, 2021.
The delay of the Filings is, in part, a result of delays in completing certain audit procedures due to the COVID-19 pandemic and associated travel and access restrictions to the Company’s facilities in the United States of America.
The Company continues working diligently to complete its audit procedures. The Company continues to anticipate that the Filings will be completed no later than December 28, 2021.
The Company has applied to the relevant securities regulators for a management cease trade order as contemplated by National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) of the Canadian Securities Administrators and has received such management cease trade order. The Company will comply with the requirements of the alternative information guidelines set out in NP 12-203. The Company is not subject to any insolvency proceedings.
For further information, please contact Chemesis International Inc.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the ability of the Company to file the Filings by the timelines set out in the release, the management cease trade order and the ability of the Company to be in compliance of NP 12-203. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements including, among other things, the risks that the Company will not be able to file the Fillings in the required timeframe, or at all, that the Company will not be able to maintain the management cease trade order, which may result in a general cease trade order, that the Company will not be able to comply with NP 12-203, and that the Company’s products and plans will vary significantly as a result. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.