Nfluence Announces Late Filing of First Quarter Financial Statements due to COVID-19 Pandemic
Vancouver, BC – TheNewswire - May 28 2020 – Nfluence Analytics Inc. (“NFluence" or the “Company”), a Canadian technology company, announces the postponement of the filing of its first quarter financial statements, MD&A and related management certifications for the period ended March 31, 2020 due to logistics and delays caused by COVID-19.
The Company will be relying on Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”), enacted by the British Columbia Securities Commission (“BCSC”), providing relief consisting of a 45-day extension for certain regulatory filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic.
The Company will be relying on the temporary exemption pursuant to BCI 51-515 with respect to the following:
--the requirement to file first quarter financial statements for the period ended March 31, 2020 ("Financial Statements") within 60 days of the Company's quarter end as required by section 4.4(b) of National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”);
--the requirement to file management’s discussion and analysis for the period ended March 31, 2020 ("MDA") within 60 days of the Company's quarter end as required by section 5.1(2) of NI 51-102; and
--the requirement to file certifications of quarterly filings (together with the Financial Statements and MDA, the Quarterly Filings”) pursuant to section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings and Section 4.4(b) of NI 51-102.
The Company continues to work diligently and plans to complete the Quarterly Filings on or before July 16, 2020.
The Company confirms that there have been no material business developments since the date of filing of its annual financial statements for the year ended December 31, 2019, other than those disclosed in this or other previously issued news releases.
Although the Company is not currently listed on any securities exchange, the Company confirms that in the interim, members of the Company's management and other insiders are subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
On behalf of the Board of Directors of Nfluence Analytics Inc.
“B. Matthew Hornor”
B. Matthew Hornor
For further information please contact:
Andrew Stibbs, VP Corporate Development
Forward Looking Statements
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to anticipated events or results and include, but are not limited to, expectations regarding the terms the Offering and receipt of related regulatory approvals, the Closing Date and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may" "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking statements are current as of the date they are made and are based on applicable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.