Peeks Social Receives Cease Trade Order and Suspension From Trading
TORONTO, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (the “Corporation”, or “Peeks”) (TSXV: PEEK, OTCQB: PKSLF) announced that further to its press release dated September 6, 2019, the Ontario Securities Commission (“OSC”) has issued a Cease Trade Order (“CTO”) effective September 9, 2019, against the Corporation for failure to file the following by June 28, 2019:
i. audited annual financial statements for the year ended February 28, 2019; ii. management’s discussion and analysis relating to the audited financial statements for the year ended February 28, 2019; and iii. certification for the audited financial statements for the year ended February 28, 2019.
As a result, the Corporation has received notice from the TSX Venture Exchange (“TSXV”) that trading in the Corporation’s securities has been suspended. TSXV also provided the Corporation with notice that it intends to downgrade the Corporation from Tier 1 to Tier 2 if the Corporation has not been reinstated for trading by September 30, 2019. Trading in the Corporation’s securities may only be reinstated once the Corporation has completed the necessary filings, the CTO has been lifted and it has completed an application to TSXV for reinstatement.Th Corporation will provide an update on timing as it becomes available.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.For further information, please contact:
Peeks Social Ltd. David Vinokurov Mark Itwaru Director Investor Relations Chairman & Chief Executive Officer 416-716-9281 416-639-5339 email@example.com firstname.lastname@example.org
Forward Looking StatementsThis news release contains forward-looking statements relating to the expected timing of the filing of the Annual Audited Financial Statements and related Management’s Discussion and Analysis for the year ended February 28, 2019. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation’s expectations are risks detailed from time to time in the filings made by the Corporation with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.