TORONTO, April 24, 2020 /CNW/ - Fountain Asset Corp.
(TSX-V:FA) ("Fountain" or the "Corporation"), a merchant bank which
provides equity financing, bridge loan services and strategic
financial consulting services to companies across many industries
such as marijuana, oil & gas, mining, real estate,
manufacturing, retail, financial services, blockchain technology
and biotechnology, announced today that due to logistical issues
and delays caused by the COVID-19 virus, it is relying on the
exemption provided in Ontario Instrument 51-502 Temporary
Exemption from Certain Corporate Finance Requirements (and
similar exemptions provided by other Canadian securities
regulators) (the "Ontario Instrument") to postpone the filing of
the following continuous disclosure documents (collectively, the
"Documents"):
- the Company's audited annual financial statements for the
fiscal year ended December 31, 2019
and related certifications;
- the Company's management discussion and analysis ("MD&A")
for the fiscal year ended December 31,
2019;
- the Company's unaudited interim financial statements for the
three month period ended March 31,
2020 and related certifications; and
- the Company's MD&A for the three month period ended
March 31, 2020.
The Ontario Instrument provides the Company with an additional
45 days from each of the deadlines otherwise applicable under
Ontario securities laws to make
the respective filings (the "Extension Periods"). Until the Company
has filed the Documents, members of the Company's management and
other insiders are subject to a trading blackout reflecting the
principles contained in section 9 of National Policy
11-207 Failure to File Cease Trade Orders and Revocations
in Multiple Jurisdictions such that they are in a blackout
period until the end of the second trading day after the Documents
have been disclosed by way of a news release. At this time,
the Company expects to file the Documents by the expiry of the
applicable Extension Periods, being (i) June
13, 2020 with respect to the Company's annual financial
statements and MD&A for the fiscal year ended December 31, 2019; and (ii) July 14, 2020 with respect to the Company's
interim financial statements and MD&A for the three month
period ended March 31, 2020.
There have been no material business developments since the date
of the last interim financial statements of the Company, filed on
November 26, 2019, a copy of which is
available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
INFORMATION:
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to the anticipated date of filing of
the Documents. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to, the impact of the COVID-19 virus and amendments to
reporting and other applicable requirements as a result thereof,
and general business, economic and social uncertainties. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on the forward-looking statements and
information contained in this news release. Except as required by
law, the Company assumes no obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.
SOURCE Fountain Asset Corp.
