SBD Capital Corp. Announces Delay in Filing Financials
Toronto, Ontario--(Newsfile Corp. - July 27, 2020) - SBD Capital Corp. (CSE: SBD), (the "Company") announces that the Company will invoke the Ontario Securities Commission (the "OSC") Ontario Instrument 51-505 ("OI 51-505") extending deadlines to file financial statements and Management Discussion and Analysis ("MD&A"). Pursuant to OI 51-505, the Company is relying on the relief therein for its audited annual financial statements, for the financial year ended March 31, 2020, as required by Section 4.2 of National Instrument 51-102 and the related MD&A as required by section 5.1(2) of National Instrument 51-102.
The Company estimates that the audited annual financial statements and the related MD&A for the year ended March 31, 2020 will be filed no later than August 14, 2020.
Until the Company has filed the audited annual financial statements and the related MD&A, all management and other insiders are subject to the Company's share trading and black-out policy that reflects the principals in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
There have been no material business developments since the date of the interim financial statements for the nine-month period ended December 31, 2019 that were filed on March 2, 2020.
On behalf of the Board,
SBD Capital Corp.
Arvin Ramos, Chief Financial Officer
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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