Business
Fountain Asset Corp. Provides Update on Extension to File Annual and Interim Financial Statements
Fountain Asset Corp. Provides Update on Extension to File Annual and Interim Financial Sta...
About this update from Fountain Asset Corp.
[{"type":"text","content":"\n\n\n\nFountain Asset Corp. Provides Update on Extension to File Annual and Interim Financial Statements\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 8, 2020\n\n\n\nTORONTO, June 8, 2020 /CNW/ - Fountain Asset Corp. (TSX-V:FA) (\"Fountain\" or the \"Company\"), a merchant bank which provides equity financing, bridge loan services and strategic financial consulting services to companies across many industries such as marijuana, oil & gas, mining, real estate, manufacturing, retail, financial services, blockchain technology and biotechnology, announces an update to its press release dated April 24, 2020 in which the Company reported that it is relying on the exemption provided in Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (and similar exemptions provided by other Canadian securities regulators) (the \"Blanket Relief\") to postpone the filing of (i) its audited annual financial statements and management discussion and analysis (\"MD&A\") for the fiscal year ended December 31, 2019 and related certifications (collectively, the \"Annual Filings\"); and (ii) its unaudited interim financial statements and MD&A for the three month period ended March 31, 2020 and related certifications (collectively, the \"Interim Filings\"). \nTo update on the Company's April 24, 2020 press release, the Company has not yet filed the Annual Filings and the Interim Filings and will be relying on the full 45-day extension granted by the Blanket Relief. The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings on or before June 15, 2020 and the Interim Filings on or before July 14, 2020.  Until the Company has filed the Annual Filings and the Interim Filings, members of the Company's management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. \nOther...