China Keli Announces Update of Delay in Filing Annual Financial Statements
Vancouver, British Columbia--(Newsfile Corp. - September 13, 2017) - China Keli Electric Company Ltd. (TSXV: ZKL) (the "Company"), announces today an update on the status of the the filing of its annual financial statements, management's discussion and analysis, and the related officer certifications for the financial year ended April 30, 2017 (collectively, the "Annual Filings"). Due to the location of the Company's business operations in China and the change in the Company's auditors from MNP LLP to Kreston GTA LLP in June of this year, the Company's audit remains ongoing at this time. At this time, Company has responded or is responding to certain information requested by the auditors relating to warranty holdbacks, corporate income tax, and bank and payables confirmations. The Company intends to cooperate with the auditors and hopes to file the Annual Filings as soon as possible. There are no further changes otherwise required to be disclosed pursuant to items (a) to (d) of Section 10 of National Policy 12-203 — Management Cease Trade Orders ("NP 12-203").
Pending the filing of the Annual Filings, a management cease trade order has been issued by the British Columbia Securities Commission. The Company intends to follow the provisions of the Alternative Information Guidelines as set out in NP 12—203, for as long as the Company remains in default, including the issuance of further by-weekly default status reports, each of which will be issued in the form of a press release. A general cease trade order may be issued as a result of the Company's default status.
About China Keli Electric Company Ltd.
China Keli Electric Company Ltd. specializes in the manufacturing and installation of electrical components and equipment, including pre-assembled mini substations, electrical controllers, pressurized and vacuumed switchgears and circuit breakers.
For further information, please contact:
CHINA KELI ELECTRIC COMPANY LTD.
Philip Lo, Chief Financial Officer
Tel. No.: (86) 13632 173732
For further company information please access our website: www.zkl.cc
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