TMCnet News
Peeks Social Provides Update on Status of Management Cease Trade OrderTORONTO, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (the "Corporation", or “Peeks”) (TSXV: PEEK, OTCQB: PKSLF) is providing this update on the status of the action taken by the Ontario Securities Commission (“OSC”) in issuance of a Management Cease Trade Order (“MCTO”) against the Corporation for failure to file the following by June 28, 2019:
The Corporation intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 so long as the Required Filings are outstanding and will continue to issue bi-weekly default status reports for so long as it remains in default of its’ requirements. During the MCTO, 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 and chief financial officer will not be able to trade in the Company’ shares. The Corporation has filed for an extension of the MCTO to September 16, 2019, due to particular issues regarding application of accounting standards IFRS 3 and IFRS 10 as they relate to the amalgamation of Personas.com and Peeks Social Ltd. No assurance can be provided at this time that the OSC will grant the extension of the MCTO. A full Cease Trade order may be put in place until the filing of all outstanding audited financial documents. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
Forward Looking Statements |