CALGARY, AB, July 29, 2021 /CNW/ - PSINAPTIC INC. (the "Company") is pleased to announce that each of the Alberta Securities Commission ("ASC"), as principal regulator, and the British Columbia Securities Commission ("BCSC"), have issued the Company revocation orders dated July 28, 2021 granting full revocation of a cease trade order previously issued by each of them.
The ASC, as principal regulator, previously issued a cease trade order against the Company on February 3, 2010 and the BCSC cease traded the Company on March 17, 2010 (collectively, the "CTOs"). The CTOs were issued against the Company due to the Company's failure to file its certification of annual filings, annual audited financials and annual management's discussion and analysis for the year ended September 30, 2009.
The Company has filed its: (i) annual audited financials and annual management's discussion and analysis for the years ended September 30, 2020 and September 30, 2019; (ii) interim financial statements and management's discussion and analysis for each of the three months ended December 31, 2020 and December 31, 2019; (iii) interim financial statements and management's discussion and analysis for each of the six months ended March 31, 2021 and March 31, 2020; and (iv) Statement of Executive Compensation for the years ended September 30, 2020 and September 30, 2019 (collectively, the "CD Materials"). Copies of the CD Materials can be found on the Company's profile on the System for Electronic Document and Retrieval at www.sedar.com.
The trading in, and acquisition of, securities of the Company is no longer prohibited.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, information concerning future events or the intentions, plans and future action of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis available at www.sedar.com, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
SOURCE PsiNaptic Inc.
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