Winnipeg, Manitoba--(Newsfile Corp. - April 28, 2020) - Novra Technologies Inc. (TSXV: NVI) ("Novra" or the "Company") announces that, as a result of delays caused by the COVID-19 pandemic, the Company will be postponing the filing of its annual consolidated financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2019. (collectively, the "Annual Filings"), which are required to be filed by April 29, 2020 under National Instrument 51-102 Continuous Disclosure Obligations. The Company also expects to delay interim filings for the first three months of 2020.
On March 18, 2020, the Canadian Securities Administrator (CSA) announced they would provide issuers with a 45-day extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. The Company will rely on this exemption with respect to the Annual Filings and the March 31, 2020 quarterly filings in accordance with BC Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515").
The Company is continuing to work diligently and expeditiously with its auditors to complete and file the Annual Filings prior to the extended deadline of June 15, 2020 and expects to release March 31, 2020 quarterly filings by July 15, 2020. In the interim, management and the other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 -Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that since the filing of its consolidated interim financial statements for the period ended September 30, 2019, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws and stock exchange requirements.
About Novra Technologies Inc.:
Novra (TSXV: NVI) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. The Novra Group of companies includes Novra, International Datacasting Corporation, and Wegener Corporation. The companies in the group are known for a strong focus on applications including: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications.
For more information visit: www.novragroup.com
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, including statements relating to the expected timing of filing annual and interim filings. Forward-looking statements are generally identifiable by words such as "expect", "anticipate", "believe", "intend", "estimate", "predict", "outlook", "opportunity", "momentum", "potential", "targeted", "plans" "possible", "poised for", and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. As such, forward-looking statements are not historical facts but reflect our current assumptions and expectations regarding future events. These are subject to a number of risk and uncertainties that could cause actual results or events to differ materially from current expectations and assumptions. For these reasons, readers are cautioned not to place undue reliance on forward-looking statements.
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.
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CONTACT FOR NOVRA:
Harris Liontas
President & CEO
+1 204 989 4632
hliontas@novra.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55046
