Soperior Fertilizer Corp. Announces Delay In Filing Under Csa Instrument Governing Relief Under Covid-19 Duress
TORONTO, March 31, 2020 - SOPerior Fertilizer Corp. (the “Company”) (TSX:SOP) announced that due to circumstances created by the COVID – 19 pandemic it will not be filing its Audited Financial Statements for the Twelve Months ended December 31, 2019 by the scheduled due date of March 31, 2020, nor will the Management Discussion and Analysis covering the same period be filed by its scheduled March 31, 2020 due date (both as required by National Instrument 51-102).As required by Ontario Instrument 51-502 (and related similar provincial instruments), the Company discloses the following:
- The Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its Financial Statements for the Twelve Months ended December 31, 2019 and the related Management Discussion and Analysis (the “Financial Reports”) have been filed;
- The Company expects to file the Financial Reports on or about May 15th, 2020; and
- The Company is working to obtain critical short term financing to maintain its operations – without which its ability to continue operations will be in grave jeopardy. To this end, the Company is working to finalize a term sheet with a party to provide such financing, although there can be no assurance that it will get completed. Such financing will be critical to enable it to engage its auditors to complete the year-end audit in question.
NEITHER THE TORONTO STOCK EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
On Behalf of the Board of Directors
SOPERIOR FERTILIZER INC.
“R. Bruce Duncan”
Executive Chairman and Director
Contact Information
E-mail: Info.sopfertlizer@gmail.com
P: (416) 362-8640
www.SOPfertilizer.com
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).