Business
Aegis Brands Announces Deferral of Filing its Annual Information Form Following Temporary Relief by The CSA
Aegis Brands Announces Deferral of Filing its Annual Information Form Following Temporary ...
About this update from Aegis Brands Inc
[{"type":"text","content":"\n\n\n\nAegis Brands Announces Deferral of Filing its Annual Information Form Following Temporary Relief by The CSA\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, March 30, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, March 30, 2020 /CNW/ - The Second Cup Ltd. (\"Second Cup\" or the \"Company\") (TSX: SCU) announced today that, as a result of management's continued focus on protecting the health of the Company's customers and employees and on supporting its network of franchisees in response to the ongoing COVID-19 pandemic, it intends to rely on the blanket relief provided by the Canadian Securities Administrators and Ontario Instrument 51-102 – Temporary Exemption from Certain Corporate Finance Requirements and defer the filing of its Annual Information Form.  At this time, the Company anticipates being able to complete and file the Annual Information Form by April 30, 2020.  Second Cup also announced that it expected to utilize the blanket relief in respect of its interim financial report for the first quarter of 2020, the associated management's discussion & analysis and related filings for the first quarter of 2020, all of which it anticipates filing on or before June 28, 2020. The blanket relief provides for up to a 45-day extension for periodic filings normally required to be made by reporting issuers during the period from March 23, 2020 to June 1, 2020.\nThe following material developments of the Company have occurred since March 12, 2020, being the date of filing of its annual financial statements:\n128 of Second Cup's 244 cafes and all 19 Bridgehead coffeehouses have temporarily suspended operations in response to the COVID-19 pandemic.Second Cup has deferred the collection from franchisees of the accrued royalties and cooperative advertising fund contributions for the period of February 23 to March 21, 2020 otherwise due on March 31, 2020.Second Cup is supporting conversations on behalf of it...