PLANTATION, Fla., Aug. 30, 2021 /CNW/ - Akumin Inc. (NASDAQ: AKU)
(TSX: AKU) ("Akumin" ) is providing this update on the status of
the management cease trade order granted by the Ontario Securities
Commission (the "OSC"), as principal regulator of Akumin, on
August 20, 2021 (the "MCTO") under
National Policy 12-203 – Management Cease Trader Orders ("NP
12-203"). The MCTO was granted following Akumin's application to
the OSC once it was determined it was not in a position to file its
interim financial report for the quarter ended June 30, 2021 along with the related management's
discussion and analysis and CEO and CFO certificates (collectively,
the "Required Reports") by the reporting deadline of August 16, 2021, as initially announced on
August 15, 2021 (the "Default
Announcement"). The management cease trade order prevents the
officers and/or directors named in the order from trading in
Akumin's securities but does not affect the ability of other
shareholders, including the public, to trade in securities of
Akumin.
Akumin is continuing to work to complete the preparation of the
analysis to conclude and facilitate the review of the Required
Reports at the earliest possible date and currently expects to be
in a position to file the Required Reports within 60 days of the
original filing deadline, being October 15,
2021.
Akumin confirms that since the date of the Default Announcement:
(i) there has been no material change to the information set out in
the Default Announcement that has not been generally disclosed;
(ii) there has been no failure by Akumin in fulfilling its stated
intentions with respect to satisfying the provisions of the
alternative information guidelines set out in NP 12-203; (iii)
there has not been any other specified default by Akumin under NP
12-203; and (iv) there is no other material information concerning
the affairs of Akumin that has not been generally disclosed.
Akumin confirms that it will continue to satisfy the provisions
of the alternative information guidelines under NP 12-203 by
issuing bi-weekly default status reports in the form of news
releases for so long as it remains in default of the above-noted
filing requirements.
About Akumin Inc.
Akumin Inc. is a leading provider of freestanding, fixed-site
outpatient diagnostic imaging services in the United States with a network of 137 owned
and/or operated imaging centers located in Florida, Texas, Pennsylvania, Delaware, Illinois, Kansas, Georgia, and Massachusetts. By combining our clinical
expertise with the latest advances in technology and information
systems, our centers provide physicians with imaging capabilities
to facilitate the diagnosis and treatment of diseases and disorders
and may reduce unnecessary invasive procedures, minimizing the cost
and amount of care for patients. Our imaging procedures include
MRI, CT, positron emission tomography (PET), ultrasound, diagnostic
radiology (X-ray), mammography, and other interventional
procedures. For more information, visit www.akumin.com.
Forward Looking Information
Certain statements contained in this press release may
constitute forward-looking information. These statements relate to
future events or future performance. The use of any of the words
"could", "intend", "expect", "believe", "will", "projected",
"estimated", "proposed" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on Akumin's
current belief or assumptions as to the outcome and timing of such
future events. In particular, this release contains forward-looking
information relating to the anticipated filing of the Required
Reports and Akumin's intentions to continue to satisfy the
provisions of the alternative information guidelines under NP
12-203. Such forward-looking information are subject to risks and
uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements, including, but not limited to, the risks described in
greater detail in the "Risk Factors" section of Akumin's Annual
Information Form dated March 31,
2021, which is available at www.sedar.com and www.sec.gov.
These risks are not intended to represent a complete list of the
risks that could affect Akumin; however, these risks should be
considered carefully. Further, various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to Akumin. The forward-looking information contained in
this release is made as of the date hereof and Akumin is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
The TSX has not in any way passed upon the merits of and has
neither approved nor disapproved the contents of this news
release.
SOURCE Akumin Inc.