MONTREAL, April 20, 2020 (GLOBE NEWSWIRE) -- (CSE: EMER) Emergia Inc. (the “Corporation” or “Emergia”) announced today that it will be relying on the exemption provided by the local blanket orders granted by the provincial securities regulators, permitting the Corporation to extend the filing deadlines of its annual financial statements and its annual management's discussion and analysis by up to 45 days. Management of the Corporation expects that Emergia's annual financial statements and annual management's discussion and analysis will be filed on or about June 15, 2020. Emergia's management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207.
The only material developments of the Corporation that have occurred since November 28, 2019, being the date of filing of the last interim financial report of the Corporation, have been:
- The Corporation’s name and ticker symbol change to Emergia Inc. (EMER) and the articles of the Corporation are amended, as set out in the news release of the Corporation dated January 16, 2020.
- The Corporation's issuance of a $4,420,000 secured convertible debenture to a private investor to reimburse the Corporation’s line of credit with Royal Bank of Canada as set out in the news release of the Corporation dated February 20, 2020.
The Corporation is diligently monitoring the impact of the COVID-19 on its operations. To date, the COVID-19 outbreak has not had a material adverse impact on the operations. However, the future impact of the outbreak is uncertain and cannot be predicted, and there is no assurance that the outbreak will not have a material adverse impact on the future results of the Corporation.
ABOUT EMERGIA INC.
EMERGIA operates mainly in Canada in the development, acquisition and management of multi-purpose real estate, including retail, multi-residential, industrial, and office buildings as well as land for future development. The Corporation’s investment platform is based on an integrated, agile and efficient develop-to-own strategy that enables EMERGIA to benefit from development profits and the value-add while securing stable long-term returns.
For more information, please visit www.emergia.com and www.sedar.com. EMER.CN
Source: Emergia Inc.
For more Information, please contact:
Henri Petit
CEO
T: 1.888.520.1414 (Ext. 231)
E: hpetit@emergia.com
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by looking for words such as “about”, “approximately”, “may”, “believes”, “expects”, “will”, “intend”, “should”, “plan”, “predict”, “potential”, “project”, “anticipate”, “estimate”, “continue” or similar words or the negative thereof or other comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the effect of the COVID-19 pandemic on the Corporation’s financial condition, the anticipated closing of the Private Placement, business strategy and plans, and objectives of or involving the Corporation. The forward-looking information is based on certain key expectations and assumptions made by the Corporation, including expectations and assumptions concerning satisfaction of all conditions of closing, absence of exercise of any termination right and the timing and receipt of regulatory approval with respect to the Private Placement and the issuance of the private placement shares and the availability of capital resources. Although the Corporation believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information since no assurance can be given that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the effect of the COVID-19 pandemic on the Corporation’s financial condition, the real estate industry, and society as a whole. the market for the common shares, volatility of market price for common shares and other risks generally attributable to the business of the Corporation. For additional information with respect to risks and uncertainties, refer to the MD&A of the Corporation filed on SEDAR at www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE CORPORATION AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE CORPORATION MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.