TORONTO, Canada – Spot Coffee provides an update on the status of its financial statement filings. The Company previously announced that, pursuant to the blanket relief granted by the Canadian Securities Administrators it would not file its annual financial statements for the year ended December 31, 2019, and the related management’s discussion and analysis, as required by Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations (collectively, the “Annual Filings”) prior to the filing deadline of April 29, 2020.
At that time, the Company estimated that the Annual Filings would be completed on or about June 12, 2020. It is now expected that the Annual Filings will be completed on June 15, 2020.
Spot Coffee also announces that it is relying on the aforementioned blanket relief in respect of its interim financial statements and the related management’s discussion and analysis for the period ended March 31, 2020 (the “Interim Filings”).
The Company expects that the Interim Filings will be filed on or about July 14, 2020 and is afforded a postponement of up to a maximum 45-day extension pursuant to blanket relief for all market participants granted by the Canadian Securities Administrators.
Other than as disclosed in the Company’s press releases, there have not been any material business developments since the date that the last financial statements of the Company were filed.
The Company confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 –Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, such that they are in a black-out period until the commencement of the second trading day after both the Annual Filings and Interim Filings have been disclosed by way of a news release.
