Le Lézard
Classified in: Health, Business, Covid-19 virus
Subject: ERN

H-Source Provides Bi-Weekly Status Report


/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES./

VANCOUVER, BC, June 15, 2021 /CNW/ - H-SOURCE HOLDINGS LTD. (the "Company") (TSXV: HSI) (OTCQB: HSCHF) is providing this bi-weekly default status report in accordance with National Policy 12-203 - Management Cease Trade Orders. On May 4, 2021, the Company announced that, for reasons set out in its news release of May 4, 2021, the filing of its annual audited financial statements for the year ended December 31, 2020, the accompanying management's discussion and analysis and the related CEO and CFO certifications (collectively, the "Annual Filings") would not be filed by the prescribed deadline of April 30, 2021.

On May 4, 2021, the British Columbia Securities Commission, as principal regulator, granted a temporary management cease trade order (the "MCTO"). As previously announced, the Company requires additional time to file the Annual Filings due to unforeseen impacts arising from the COVID-19 pandemic which have continued to delay the audit of the Company's annual financial statements. As a result, the Company concluded that it would not be in a position to complete the year-end audit within the time periods required by National Instrument 51-102.

As a result of the delay in filing the Annual Filings, the Company's March 31, 2021 Q1 interim financial statements, the accompanying management discussion and analysis and related CEO and CFO certificates (the "Q1 Filings") were not filed by the prescribed deadline of May 31, 2021. The Company currently anticipates that it will be in a position to file both the Annual Filings and Q1 Filings in July 2021.

Pursuant to National Policy 12-203, the Company must file bi-weekly default status reports in the form of further news releases during the period of the MCTO. The Company reports that since its news release of May 4, 2021, there have been no material changes regarding the information contained in that news release. The Company confirms there have been no failures by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under National Policy 12-203, and, other than the disclosure set forth above relating to the late filing of the Q1 Filings, there has not been, nor is there anticipated to be, any specified default subsequent to the default announced in the Company's news release of May 4, 2021. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.

Reader Advisory

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the timing for preparation and filing of the Annual Filings, and the timing and duration of the management cease trade order under National Policy 12-203. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

SOURCE H-Source Holdings Ltd.


These press releases may also interest you

at 17:05
WSP Global Inc. ("WSP" or the "Corporation"), today announced that Pierre Shoiry, WSP's Vice Chairman, will be retiring from the Board at WSP's upcoming Shareholder Meeting to be held on May 9, 2024. Mr. Shoiry was President and Chief Executive...

at 17:03
This press release provides shareholders of Cohen & Steers Closed-End Opportunity Fund, Inc. (the "Fund") with information regarding the sources of the distribution to be paid on March 28, 2024 and cumulative distributions paid fiscal year-to-date....

at 17:00
via IBN - Nilam Resources, Inc. today announced that it has appointed Pranjali More as Interim Chief Executive Officer and addresses current developments regarding trading status and the status of the agreement with Xyberdata and Mindwave. Prior to...

at 17:00
Cielo Waste Solutions Corp. ("Cielo" or the "Company"), a renewable fuel company leveraging market ready licensed technology to produce low-carbon fuel from wood by-products, today announced its financial results for the three and nine months ended...

at 17:00
Inventronics Limited ("Corporation") (IVX:TSX Venture), a designer and manufacturer of enclosures for the telecommunication, cable, electric distribution, energy, and other industries in North America, today announced its 2023 audited annual and...

at 17:00
Horizons ETFs Management (Canada) Inc. (the "Manager") previously announced, by way of a press release dated January 19, 2024, that the exchange traded funds (the "ETFs") listed in the table below would be delisted from the Toronto Stock Exchange or...



News published on and distributed by: