KEW MEDIA GROUP Announces Notice of Delisting Review
January 19 2020 - 7:30PM
Business Wire
KEW MEDIA GROUP INC. (“KEW” or the “Company”) (TSX:KEW and
KEW.WT) today announced that the Toronto Stock Exchange (“TSX”) has
notified the Company that it is reviewing the eligibility for
continued listing of the Company’s securities on the TSX pursuant
to Part VII of the TSX Company Manual (the “Manual”).
The TSX has advised that it will be reviewing the Company with
respect to continued listing criteria related to disclosure issues.
These disclosure issues relate to the withdrawal by the Company’s
auditor of its audit reports for the years ended December 31, 2017
and 2018 and its interim review reports to the Audit Committee of
the Company for each interim period within the 2017, 2018 and 2019
fiscal years of KEW as a result of the actions of KEW’s former
Chief Financial Officer. The Company has been granted 120 days to
comply with all requirements for continued listing. If the Company
cannot demonstrate that it meets all TSX requirements set out in
Part VII of the Manual on or before May 19, 2020, the Company’s
securities will be delisted from the TSX 30 days from such date.
There is no assurance that the Company will successfully regain
compliance within this time period.
Should the TSX decide to delist the securities of the Company,
the Company will have the option to apply for listing on the TSX
Venture Exchange or NEX. The TSX notification and review does not
affect the Company’s business operations or applicable Canadian
reporting requirements.
About KEW MEDIA GROUP INC.
With primary offices in London, Los Angeles, and Toronto, KEW
MEDIA GROUP is a publicly listed content company that produces and
distributes multi-genre content for almost every available viewing
platform worldwide. KEW promotes transparency, equality, respect,
and inclusiveness and plans to grow with the benefit of people from
a wide range of perspectives and backgrounds.
Forward-Looking Statements
This news release may include forward-looking statements.
Forward-looking statements are statements that are predictive in
nature, depend upon or refer to future events or conditions and are
identified by words such as “will”, “expects”, “anticipates”,
“intends”, “plans”, “believes”, “estimates” or similar expressions
concerning matters that are not historical facts. All such
statements constitute forward-looking information within the
meaning of securities law and are made pursuant to the “safe
harbor” provisions of applicable securities laws. Such statements
are based on current expectations of the Company’s management and
inherently involve numerous risks and uncertainties, known and
unknown and there can be no assurance as to the outcome of the
Company’s delisting review. Except as may be expressly required by
applicable law, KEW does not undertake any obligation to update
publicly or revise any such forward-looking statements as a result
of new information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200119005037/en/
Investor Relations: investors@kewmedia.com
Media: Longview Communications & Public Affairs
Joel Shaffer 416-649-8006
Peter Block 416-649-8008