Business
Power Group Announces Delay in Filing Annual Financials Caused by COVID-19
Toronto, Ontario--(Newsfile Corp. - May 22, 2020) - Power Group Projects Corp. (TSXV: PGP...
About this update from Power Group Projects Corp.
[{"type":"text","content":"Power Group Announces Delay in Filing Annual Financials Caused by COVID-19Toronto, Ontario--(Newsfile Corp. - May 22, 2020) - Power Group Projects Corp. (TSXV: PGP) (\"Power Group\" or the \"Company\") announces that the Company will invoke the British Columbia Securities Commission (the \"BCSC\") BC Instrument 51-515 (\"BCI 51-515\") extending deadlines to file financial statements and Management Discussion and Analysis (\"MD&A\"). Pursuant to BCI 51-515, the Company is relying on the relief therein for its audited financial statements, for the year end January 31, 2020, as required by Section 4.2 of National Instrument 51-102 and the related MD&A as required by section 5.1(2) of National Instrument 51-102.The Company estimates that the audited financial statements and its MD&A will be filed no later than July 14, 2020. Until the Company has filed and announced the required Financial Statements and MD&A, all management and other insiders are subject to the Company's share trading and black-out policy that reflects the principals in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.There have been no material business developments since the date of the interim financial states for the nine-month period ended October 31, 2019 that were filed on December 30, 2019.ON BEHALF OF THE BOARD OF DIRECTORSAleem NathwaniChief Executive Officer and [email protected](604) 290-7073THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY STATEMENT:The information contained herein contains \"forward-looking statements\" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be \"forward-looking statements.\"Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limita...