Business
Sprylogics International Corp. - First Default Status Report
TORONTO, June 12 /CNW/ - Sprylogics International Corp. (TSX-V:SPY) ("Sprylogics" or the "Company...
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, June 12 /CNW/ - Sprylogics International Corp. (TSX-V:SPY)\n("Sprylogics" or the "Company") is providing this bi-weekly default status\nreport in accordance with National Policy 12-203 - Cease Trade Orders for\nContinuous Disclosure Defaults ("NP 12-203"). In its initial default\nannouncement of May 28, 2009 (the "Default Notice"), the Company announced\nthat it will not be filing its audited financial statements for its fiscal\nyear ended January 31, 2009 (the "2008 Financial Statements") and its\nmanagement's discussion and analysis relating to the 2008 Financial Statements\n(collectively, the "Required Filings") before the prescribed deadline of June\n1, 2009.\n\n\nAs previously announced, the Company made an application to the\napplicable securities regulators under NP 12-203 requesting that a management\ncease trade order be imposed in respect of this late filing. On June 2, 2009,\nthe Ontario Securities Commission issued a temporary management cease trade\norder, which imposes restrictions on all trading in and all acquisitions of\nthe securities of the Company by the Chief Executive Officer and the Chief\nFinancial Officer of the Company for a period of 15 days from the date of such\norder.\n\n\nThe Company continues to work on closing its previously announced private\nplacement in order to provide sufficient working capital to engage the\nauditors to complete the 2008 Financial Statements. The Company continues to\nanticipate that it will file the Required Filings by July 15, 2009.\n\n\nThe Company reports that since the Default Notice: (i) there is no\nmaterial change to the information set out in the Default Notice; (ii) there\nhas been no failure by the Company in fulfilling its stated intentions with\nrespect to satisfying the provisions of the alternative information guidelines\nset out in NP 12-203; (iii) there has not been any other specified default by\nthe Company under NP 12-203; and (iv) there is no other material information\nconcerning the affairs of the Company that has not been generally disclosed.\n\n\nThe Company will continue to satisfy the provisions of the alternative\ninformation guidelines under NP 12-203 by issuing bi-weekly default status\nreports in the form of news releases so long as it remains in default of the\nfilin...