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IC Capitalight Announces Delay in Filing of Financial Statements
VANCOUVER, BC / ACCESSWIRE / April 30, 2020 / IC Capitalight Corp. (CSE:IC) ("Capitalight" o...
About this update from Cupani Metals Corp.
[{"type":"text","content":"IC Capitalight Announces Delay in Filing of Financial StatementsVANCOUVER, BC / ACCESSWIRE / April 30, 2020 / IC Capitalight Corp. (CSE:IC) (\"Capitalight\" or the \"Company\") announces it was unable to file its audited annual financial statements for the fiscal year ended December 31, 2019 and the related management's discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the \"Annual Filings\") by the filing deadline of April 29, 2020.The challenges posed by COVID-19 have resulted in a delay in the finalization and filing of the Annual Filings. However, the Company's board of directors and its management confirm that they are working expeditiously to meet the Company's obligations relating to the filing of the Annual Filings. At this time, the Company anticipates being able to complete the Annual Filings by May 11, 2020.In response to recent proclamations from Canadian health authorities and the challenges resulting from the COVID-19 pandemic, the Company and its auditors have taken the necessary precautions to protect the health and safety of its employees and the public. Accordingly, a significant portion of the auditor's staff have been working from home, and travel for in-person meetings has been curtailed. While working remotely, the coordination of tasks and work product has been more difficult, the completion of audit procedures due to limited access to paper-based supporting evidence has been delayed, and the entire audit process has been slowed. Furthermore, since the Company's various suppliers and clients have also been working remotely, their responses to standard audit inquiries have slowed, including responses from clients.This news release is being issued in accordance with the blanket relief of a 45-day extension, provided by Canadian Securities Administrators and Ontario Instrument 51-502: Temporary Exemption from Certain Corporate Finance Requirements, for periodic filings normally required to be made by issuers during the period from March 23, 2020 to June 1, 2020.The Company confirms there have not been any material business developments since the date of the last interim financial reports of the Company that were filed.The Company confirms that its management and other insiders are subject to an insider trading black-out po...