TORONTO, June 10, 2020 /CNW/ - SPOT COFFEE
(CANADA) LTD. (TSXV:
SPP) ("SPoT" or the "Company") provides an update on
the status of its financial statement filings. The Company
previously announced that, pursuant to the blanket relief granted
by the Canadian Securities Administrators it would not file its
annual financial statements for the year ended December 31, 2019, and the related management's
discussion and analysis, as required by Parts 4 and 5 of National
Instrument 51-102 – Continuous Disclosure Obligations
(collectively, the "Annual Filings") prior to the filing deadline
of April 29, 2020. At that
time, the Company estimated that the Annual Filings would be
completed on or about June 12,
2020. It is now expected that the Annual Filings will be
completed on June 15, 2020.
The Company also announces that it is relying on the
aforementioned blanket relief in respect of its interim financial
statements and the related management's discussion and analysis for
the period ended March 31, 2020 (the
"Interim Filings"). The Company expects that the Interim
Filings will be filed on or about July 14,
2020 and is afforded a postponement of up to a maximum
45-day extension pursuant to blanket relief for all market
participants granted by the Canadian Securities Administrators.
Other than as disclosed in the Company's press releases, there
have not been any material business developments since the date
that the last financial statements of the Company were
filed.
The Company confirms that its management and other insiders are
subject to an insider 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, such that they are in a black-out period until
the commencement of the second trading day after both the Annual
Filings and Interim Filings have been disclosed by way of a news
release.
About SPoT Coffee
SPoT Coffee has been designing, building and operating
company-owned and franchise community cafés in the northeastern
United States for over 25 years.
SPoT's cafés provide their customers with the highest quality
service, signature made-to-order meals and award-winning
micro-roasted coffee. Each SPoT café is distinctively
designed to suit the local neighbourhood, creating a warm and
friendly gathering place for the community. SPoT's commercial
business focuses on the sale of roasted coffee beans to food
service and grocery chains, business offices, and resellers such as
universities and hospitals.
We seek Safe Harbor.
Forward Looking Statements
Except for statements of historical fact relating to the
Company, certain information contained herein constitutes
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will
prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement. Except as
required by applicable securities laws, the Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is
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 the release.
SOURCE Spot Coffee (Canada)
Ltd.