Friday, 17 August 2018 05:40 PM
Empower Technologies Corporation (TSX.V: EPT) ("Empower") , because of delays in completing its audited financial statements to December 31, 2015, the Company has applied for, and has been granted, a Management Cease Trade Order by the British Columbia Securities Commission. Because of the delays, the Company will file its annual audited financial statements, management’s discussion and analysis, and CEO and CFO certificates (collectively, the “2015 Annual Audited Financial Statements”) after the filing deadline of May 2, 2016 as prescribed by National Instrument 51- 102 – Continuous Disclosure Obligations (“NI 51-102”). The audit is about to commence and the Company anticipates the filing of the 2015 Annual Audited Financial Statements on or before June 28, 2016. The Company confirms that there are no insolvency proceedings against it as at the date of this news release. The Company further confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as at the date hereof.
Until the Company completes the filing of the 2015 Annual Audited Financial Statements, the Company will comply with the alternative information guidelines set out in National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the 2015 Annual Audited Financial Statements have not been filed.
During the deficiency of the management cease trade order, the general investing public will continue to be able to trade in the Company’s listed common shares, however, the Company’s Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade the Company’s shares.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Empower Technologies™
Founded in 2000, Empower Technologies (TSX.V: EPT) has transformed from an embedded technology company to a full-fledged innovative technology, products and services and manufacturing enterprise. Empower Technologies as a group caters to security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. Under the Empower Group, the Company has three operating divisions - Empower Embedded Engineering, Empower Imaging Laboratories and Empower Defense Systems. For more information, please visit www.empowertechnologies.com.
Empower’s brands are “LEOs®”, Linux-based embedded operating systems, “BullsEye”, Real-Time Video Stabilizer, “PowerPlay™”, smart consumer electronics.
Contact Information:
Media Enquiries: [email protected] or via Tel @ (604) 278-3100
Investor Relations: [email protected]
More Information on Empower Technologies: www.empowertechnologies.com
Sales Enquiries: [email protected] or via Tel @ (604) 278-3100
Paul Leung
Chairman, President and CEO
Empower Technologies Corporation
P.O. Box 62038
Vancouver, BC, Canada V6J 1Z1
The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information at the time of this news release. The Company cautions that actual results could differ materially from the current expectations due to a number of factors, including failure to satisfy the conditions to closing within the time required and on terms satisfactory to the parties. There is no assurance that the Company will complete the transaction on the terms anticipated or at all.
Empower Technologies, LEOs, PowerPlay, LinuxDA and BullsEye are the trademarks of Empower Technologies, Inc. All other brands are trademarks of their respective owners.