Byrna Technologies Inc. to Postpone Reporting Fourth Quarter and Full Year 2019 Results Due to Delays Caused By COVID-19
Wakefield, Massachusetts--(Newsfile Corp. - April 1, 2020) - Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN) ("Byrna" or the "Company") is postponing the reporting of its fourth quarter and full year 2019 results, associated filings and its Annual Information Form due to logistics caused by the COVID-19 pandemic. The Company will report results as soon as possible and is afforded the postponement by a 45-day extension announced by the Ontario Securities Commission under the "Ontario Instrument 51-502", dated March 23, 2020.
Recent global events pertaining to COVID-19 have impacted the Company and its consultant's ability to rely on timely information for its financial reporting obligations.
Ensuring a safe and healthy working environment for our workforce is a primary focus for Byrna and we will continue to implement and enforce precautionary health and safety measures. The Company will continue to seek to manage operational risk and preserve capital during this very difficult time.
The Company ratifies that management and the Company's insiders remain subject to the Company's Insider Trading Policy and confirms that there have been no material business developments since October 2019 when the Company filed its third quarter interim financial results other than as announced.
About Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN)
Byrna is an emerging non-lethal technology company, specializing in the development and manufacture of innovative less lethal equipment and munitions. For more information on the Company, please visit the corporate website here or the company's investor relations site here. The Company recently launched its breakthrough Byrna® HD personal security device, which looks to be the leading choice in the consumer and private security markets for non-lethal home protection, personal safety, and security.
Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "guidance", "scheduled", "estimates", "forecasts", "strategy", "target", "intends", "objective", "goal", "understands", "anticipates" and "believes" (and variations of these or similar words) and statements that certain actions, events or results "may", "could", "would", "should", "might," "occur" or "be achieved" or "will be taken" (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as "providing the Company with", "is currently", "allows/allowing for", "will advance" or "continues to" or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note.
Forward-looking information in this news release includes, but is not limited to, statements regarding its ability to file its fourth quarter/annual financial statements for the year ended November 30, 2019, its associated filings and the Company's Annual Information Form, its continued implementation of precautionary health and safety measures, and its ability to manage operational risk and preserve capital under the market conditions triggered by the COVID-19 pandemic. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Byrna at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Byrna identified and were applied by Byrna in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, deliverables for which the Company is relying on third parties, illness of personnel or consultants or other factors that could impact negatively the ability of the Company to file its fourth quarter/annual financial statements for the year ended November 30, 2019, its associated filings and the Company's Annual Information Form in the time frame anticipated, extended shutdowns of the Company's business, its suppliers or vendors, the Company's inability to import its finished goods for an extended period, or other factors that could impact the Company's ability to raise new capital and to preserve capital under the market conditions triggered by the COVID-19 pandemic.
Should one or more risk, uncertainty, contingency, or other factor materialize, or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, the reader should not place undue reliance on forward-looking information. Byrna does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.
For further information contact:
Lisa Wager, CLO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54046