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Last Mile Holdings Announces Late Filing of Interim Financial Statements and Receipt of Notice of Default
Last Mile Holdings Announces Late Filing of Interim Financial Statements and Receipt of Notice of Default.
About this update from Azn Capital Corp
[{"type":"text","content":"\n\n\n\nLast Mile Holdings Announces Late Filing of Interim Financial Statements and Receipt of Notice of Default\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\n\n\n\n\n\nLast Mile Holdings Announces Late Filing of Interim Financial Statements and Receipt of Notice of Default\nCanada NewsWire\nVANCOUVER, BC, Dec. 1, 2020\n\n\n\nVANCOUVER, BC, Dec. 1, 2020 /CNW/ - Last Mile Holdings Ltd. (\"MILE\" or the \"Company\") (TSXV: MILE) (OTC: AZNVF) announces  that it was unable to file its interim financial statements for the nine month period ended September 30, 2020 and the related management's discussion and analysis (\"MD&A\") and certifications (the \"Interim Filings\") by the filing deadline of November 30, 2020 as required by applicable securities laws.\nIn connection with the Company's inability to file the Interim Filings on time, the Company has applied for and been granted a management cease trade order (an \"MCTO\") under National Policy 12-203  Management Cease Trade Orders (\"NP 12-203\").\nThe Company had relied upon the blanket relief provided by the Canadian Securities Administrators (the \"CSA\") in response to the COVID-19 pandemic to extend the filing deadlines for the first and second quarter interim filings as the then acting CFO and could not enter the US and travel to Charleston in order to hire the necessary accounting staff at the Company headquarters.  Subsequently, the recently hired CFO, resigned for personal reasons and the Company has announced a process whereby it is meeting with strategic partners seeking funding alternatives for the Company.   The Company continues to work to complete the Company's third quarter interim financial statements, and expects to file the Interim Filings by December 31, 2020, and will issue a news release once the Interim Filings have been filed.\nUntil the Company files the Interim Filings, it will comply with the alternative information guidelines set out in NP 12-203.  The guidelines, among other things, require the Company to issue bi-weekly default status reports, in t...