Business
Zonetail Inc. Provides Update on COVID-19 and Announces Request for Extension to File Interim and Annual Financial Statements and Management's Discussion and Analysis
Toronto, Ontario--(Newsfile Corp. - April 29, 2020) - Zonetail Inc. (TSXV: ZONE) ("Zonetail...
About this update from Zonetail, Inc.
[{"type":"text","content":"Zonetail Inc. Provides Update on COVID-19 and Announces Request for Extension to File Interim and Annual Financial Statements and Management's Discussion and AnalysisToronto, Ontario--(Newsfile Corp. - April 29, 2020) - Zonetail Inc. (TSXV: ZONE) (\"Zonetail\" or the \"Company\"), provides today an update on COVID-19 matters and an update on the status of the filing of its annual financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2019. The COVID-19 pandemic is creating unprecedented challenges to the global economy and stock markets. Zonetail's Board of Directors and Management are taking all necessary precautions to ensure the health of its employees and best manage the short-term challenges to the business. On March 18, 2020, the Canadian Securities Administrators (\"CSA\") issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such the Ontario Securities Commission (\"OSC\") has enacted Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (\"OSC 51-502\"). Zonetail will be relying on this extension period due to delays experienced as result of the COVID-19 pandemic. Zonetail 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 \"Annual Financial Statements\") within 120 days of Zonetail's financial year end as required by section 4.2(b) of NI 51-102; the requirement to file interim financial statements for the 3-month period ended March 31, 2020 (the \"Interim Financial Statements\") within 60 days of Zonetail's first quarter as required by section 4.4(b) of NI 51-102 the requirement to file management discussion and analysis (the \"Annual MD&A\") for the period covered by the Annual Financial Statements within 120 days of Zonetail's financial year end as required by section 5.1(2) of NI 51-102; the requirement to file management discussion and analysis (the \"Interim MD&A\") for the period covered by the Interim Financial Statements within 60 days of ...