Binovi Provides Update on Status of Year End and First Quarter Financial Statements
[Toronto, ON] Binovi Technologies Corp., (Binovi) (TSX-V:VISN | OTCQB:BNVIF) announces that further to its news release on August 14, 2020, the Company now expects that it will be in a position to file its annual financial statements and accompanying management’s discussion and analysis for the financial year ended February 29, 2020 (collectively, the “Annual Filings”) on or before September 14, 2020. Additionally, on July 28, 2020, Binovi announced that it would be relying on the temporary blanket relief provided by the Canadian securities regulators for the filing of its interim financial statements and accompanying management’s discussion and analysis (collectively the “Interim Filings”) for the first quarter ended May 31, 2020 due to logistics and delays caused by the COVID-19 pandemic. Under the temporary blanket relief, the Company would need to file the Interim Filings on or before September 14, 2020. As a result of the delayed Annual Filings the Company anticipates there could be additional delays in the filing of its Interim Filings and will continue to provide biweekly status updates on the delay of filing its Annual Filings and Interim Filings.
Binovi confirms that since it announced a delay of its Annual Filings and Interim Filings (the “Filings Notices”) there is no material change to the information set out in the Filings Notices that has not been generally disclosed as of the date of this news release and there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in National Policy 12-203. Management is working diligently to meet the Company’s obligations relating to its Annual Filings and that, while subject to the Management Cease Trade Order (“MCTO”), the Company will continue to comply with the provisions of the alternative information guidelines under National Policy 12-203 by issuing bi-weekly status reports until it has satisfied the necessary filing requirements.