Business
International Lithium Provides Update on Financial Statements
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2020) - International Lithium Corp. (...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium Provides Update on Financial StatementsVancouver, British Columbia--(Newsfile Corp. - April 29, 2020) - International Lithium Corp. (TSXV: ILC) (the \"Company\" or \"ILC\") announces that due to delays resulting from the Covid-19 pandemic, the Company will be postponing the filing of its annual consolidated financial statements and accompanying management's discussion and analysis, and related CEO and CFO certificates for the financial year ended December 31, 2019 (collectively, the \"Annual Filings\"), which are required to be filed by April 29, 2020 under National Instrument 51-102 - Continuous Disclosure Obligations (\"NI 51-102\").On March 18, 2020, the Canadian Securities Administrators (\"CSA\") announced that they would provide coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of the COVID-19 pandemic. Accordingly, the British Columbia Securities Commission (\"BCSC\") has enacted BC Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements (\"BCI 51-515\").The Company will be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:• the requirement to file audited financial statements for the year ended December 31, 2019 (the \"Financial Statements\") within 120 days of the Company's financial year end as required by section 4.2(b) of National Instrument 51-102 - Continuous Disclosure Obligations (\"NI 51-102\");• the requirement to file management's discussion and analysis (the \"MD&A\") for the period covered by the Financial Statements within 120 days of the Company's financial year end as required by section 5.1(2) of NI 51-102; and• the requirement to file certifications of the Financial Statements pursuant to section 4.1 of National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings and Section 4.2(b) of NI 51-102 (filing deadline for annual financial statements).The Company continues to work diligently and expeditiously with its auditors to file the Annual Filings on or before May 6, 2020. Until completion of the Annual Filings, members of the Company's management and other insiders ar...