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Composite Alliance Group Provides Update to the Filing of Its Financial Statements
Calgary, Alberta--(Newsfile Corp. - May 22, 2020) - Composite Alliance Group Inc. (formerly Ca...
About this update from Composite Alliance Group, Inc. Class A
[{"type":"text","content":"Composite Alliance Group Provides Update to the Filing of Its Financial StatementsCalgary, Alberta--(Newsfile Corp. - May 22, 2020) - Composite Alliance Group Inc. (formerly CanAsia Financial Inc.) (TSXV: CAG) (the \"Company\" or \"CAG\") provides an update with respect to the filing of its annual financial statements and management's discussion and analysis for the twelve-month period ended December 31, 2019 (collectively the \"Annual Filings\"). CAG previously announced on April 23, 2020 that the Company will be relying on relief granted by the Alberta Securities Commission under Alberta Instrument 51-517 - Temporary Exemption from Certain Corporate Finance Requirements (the \"Alberta Instrument\") (and similar exemptions provided by the securities commissions in British Columbia, Saskatchewan and Ontario) for temporary exemption from the following Annual Filing documents due to the challenges created by COVID-19:the Company's Annual Audited Financial Statements for the twelve-month period ended December 31, 2019 as required by section 4.2 of National Instrument 51-102 - Continuous Disclosure Obligations (\"NI 51-102\"); andthe Company's Management Discussion & Analysis for the twelve-month period ended December 31, 2019 as required by section 5.1(2) of NI 51-102.It was previously announced that the Annual Filings would be filed no later than June 1, 2020. However, due to continued COVID-19 related delays, the Company may require additional time and expects to file the Annual Filings no later than June 15, 2020. The Company further announces that filing of its unaudited interim quarterly financial statements and accompanying management's discussion and analysis for the quarter ended March 31, 2020 (collectively the \"Q1 Filings\") will be postponed due to delays caused by the COVID-19 pandemic. The Q1 Filings would ordinarily have been filed on or before June 1, 2020, the required deadline set by NI-51-102. CAG is relying on the exemption provided in the Alberta Instrument, which provides the Company with an additional 45 days to complete its Q1 Filings, which includes the following continuous disclosure documents:the Company's unaudited financial statements for the quarter ended March 31, 2020 as required by section 4.4 of NI 51-102; andthe Company's management's discussion and analysis for the quarter ended March 31, 202...