Quarterhill Announces Filing Extension for Q1 2020

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[{"type":"text","content":"\n\n\n\nQuarterhill Announces Filing Extension for Q1 2020\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\n\n\n\n\n\n\nCanada NewsWire\nKITCHENER, ON, April 13, 2020\n\n\n\nKITCHENER, ON, April 13, 2020 /CNW/ - Quarterhill Inc. (\"Quarterhill\" or the \"Company\") (TSX: QTRH) (OTCQX: QTRHF), announces that in accordance with Ontario Instrument 52-502 of the Ontario Securities Commission, the Company will announce and file its interim financial statements for the three-month period ended March 31, 2020  (the \"2020 Q1 Interim Financials\") on May 21, 2020. \nQuarterhill is currently required to file the 2020 Q1 Interim Financials by May 15, 2020 but, in reliance upon the exemption provided by Ontario Instrument 52-502, the Company will now file the 2020 Q1 Interim Financials on May 21, 2020. Quarterhill will issue details of its Q1 2020 financial results conference call on or about May 7, 2020.\nQuarterhill is relying on this extension because of the Coronavirus (COVID-19) pandemic and its unprecedented impact on the general business environment in the Province of Ontario and worldwide and the general challenges the pandemic is creating as the Company simultaneously moves to preparing its financial statements in accordance with International Financial Reporting Standards (\"IFRS\") for the period ended March 31, 2020. Previously, Quarterhill reported its financial statements in accordance with United States Generally Accepted Accounting Principles (\"US GAAP\").\nThe Company will be preparing its current and future financial statements in accordance with IFRS and not US GAAP because Quarterhill no longer has a class of securities registered under section 12 of the United States Securities Exchange Act of 1934, as amended  (the \"1934 Act\") and is not required to file reports under section 15(d) of the 1934 Act. \nAt this time, other than matters relating to the COVID-19 pandemic generally impacting communities and economies worldwide and not Quarterhill and its business specifically, Quarterhill has no material business developments that require disclosure to t...

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