MONTREAL, April 29, 2020 (GLOBE NEWSWIRE) -- (TSX-V: ATW) ATW Tech Inc. (“ATW”) provides today an update on COVID-19 matters and an update on the status of the filing of its annual financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2019.
The COVID-19 pandemic is creating unprecedented challenges to the global economy and stock markets. ATW's Board of Directors and Management are taking all necessary precautions to ensure the health of its employees and best manage the short-term challenges to the business.
On March 18, 2020, the Canadian Securities Administrators ("CSA") issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such the Autorité des marchés financiers ("AMF") has enacted decision N°2020-PDG-0023 ("Decision 2020"). ATW will be relying on this extension period due to delays experienced as result of the COVID-19 pandemic.
ATW will be relying on the temporary exemption pursuant to section 1 of Decision 2020 in respect to the following provisions:
- the requirement to file audited financial statements for the year ended December 31, 2019 (the "Annual Financial Statements") within 120 days of ATW's financial year end as required by section 4.2(b) of Regulation 51-102 respecting Continuous Disclosure Obligations (“Regulation 51-102”);
- the requirement to file interim financial statements for the 3-month period ended March 31, 2020 (the "Interim Financial Statements") within 60 days of ATW's first quarter as required by section 4.4(b) of Regulation 51-102;
- the requirement to file management discussion and analysis (the "Annual MD&A") for the period covered by the Annual Financial Statements within 120 days of ATW's financial year end as required by section 5.1(2) of Regulation 51-102;
- the requirement to file management discussion and analysis (the "Interim MD&A") for the period covered by the Interim Financial Statements within 60 days of ATW's fist quarter as required by section 5.1(2) of Regulation 51-102;
- the requirement to file certifications of the Annual Financial Statements (the "Certificates" and together with the Annual Financial Statements and the Annual MD&A, the "Annual Filings") pursuant to section 4.1 of Regulation 52-109 respecting Certification of Disclosure in Issuers’ Annual and Interim Filings (“Regulation 52-109”); and
- the requirement to file certifications of the Interim Financial Statements (the "Certificates" and together with the Interim Financial Statements and the Interim MD&A, the "Interim Filings") pursuant to section 5.1 of Regulation 52-109.
ATW is continuing to work diligently and expeditiously with its auditors to file the Annual Filings on or before June 14, 2020 and the Interim Filings on or before July 14, 2020. In the interim, management and other insiders of ATW are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. ATW confirms that since the filing of its interim consolidated financial statements for the period ended September 30, 2019, there have been no material business developments other than those disclosed through news releases.
Additional information regarding ATW is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.
ABOUT ATW TECH
ATW Tech (TSX-V: ATW) is a leader in financial technologies (‘fintech’), owner of several web platforms including VoxTel and Option.vote. VoxTel offers various interactive communication, landline and mobile carrier billing phone solutions. Option.vote offers a large scale, customizable, and secure multi-method voting system for unions, political parties, professional associations, and others looking for a way to reduce their voting costs and to improve their participation rates.
Forward-Looking Statements Disclaimer
Certain statements in this press release may be forward-looking. Although ATW Tech believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. A description of other risks affecting ATW Tech's business and activities appears under the heading "Risks Factors and Uncertainty" on pages 14 and 15 of ATW Tech's 2018 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that ATW Tech will derive therefrom. ATW Tech disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
SOURCE:
ATW TECH
Michel Guay
Founder, president and CEO
Tel.: 844.298.5932 ext. 301
mguay@atwtech.com
www.atwtech.com