GROWMAX ANNOUNCES ANNUAL FILINGS UPDATE
GrowMax Resources Corp. has provided an update on the status of the filing of its annual financial statements and accompanying management’s discussion and analysis, and related chief executive officer and chief financial officer certifications for the financial year ended Dec. 31, 2019.
On March 18, 2020, the Canadian Securities Administrators (CSA) issued a notice stating that securities regulators will be providing co-ordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020, as a result of the COVID-19 pandemic. As such the British Columbia Securities Commission (BCSC) has enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements.
The company will be relying on this extension period due to delays experienced as result of the COVID-19 pandemic. The company will be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:
- The requirement to file audited financial statements for the year ended Dec. 31, 2019, within 120 days of the company’s financial year-end as required by Section 4.2(b) of NI 51-102;
- The requirement to file management discussion and analysis for the period covered by the financial statements within 120 days of the company’s financial year-end as required by Section 5.1(2) of NI 51-102;
- The requirement to file certifications of the financial statements pursuant to Section 4.1 of National Instrument 52-109 Section 4.2(b) (filing deadline for annual financial statements) National Instrument 51-102.
The company is continuing to work diligently and expeditiously with its auditors to file the annual filings on or before June 15, 2020. In the interim, management and other insiders of the company are subject to a trading blackout policy as described, in principle, 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 interim consolidated financial statements for the period ended Sept. 30, 2019, there have been no material business developments other than those disclosed through news releases.
We seek Safe Harbor.