VANCOUVER, BC, May 11, 2021 /CNW/ - AZN Capital Corp. (the
"Company" or "AZN") (TSXV: AZN) (OTC: AZNVF)
announces that the Company is subject to a Cease Trade Order issued
by the British Columbia Securities Commission for failure to file
its annual financial statements and related documents for the
fiscal year ended December 31, 2020
(the "Annual Financial Statements") by the deadline of
April 30, 2021 as required by
applicable Canadian securities laws.
The Company advises that the failure to file the Annual
Financial Statements resulted from delays caused by the public
disposition of substantially all of the assets of the Company and
its U.S. subsidiaries conducted in late December 2020, coupled with incremental delays
resulting from the effects of COVID-19 on work schedules,
availability and timelines. The Company is actively working to
complete the required filings as soon as possible so that the cease
trade order can be lifted.
The Company expects to file the Annual Financial Statements as
soon as they are available, and will issue a news release once the
Annual Financial Statements have been filed.
ON BEHALF OF THE BOARD OF DIRECTORS
AZN CAPITAL CORP.
Maxwell Smith
Chief Executive Officer, President and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information
Except for the statements of historical fact, this news
release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on
expectations, estimates and projections as at the date of this news
release. "Forward-looking information" in this news release
includes, but is not limited to, statements regarding the timing,
review, completion and filing of the Annual Financial Statements,
and the grant and duration of the cease trade order; business goals
and objectives of the Company, and other forward-looking
information concerning the intentions, plans and future actions of
the parties to the transactions described herein and the terms
thereon.
Factors that could cause actual results to differ materially
from those described in such forward-looking information include,
but are not limited to, the Company may not complete its audit and
file the Annual Financial Statements as currently anticipated, or
at all; and other related risks as more fully set out in the
documents disclosed under the Company's filings at
www.sedar.com.
The forward-looking information in this news release reflects
the current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about the Company's
ability to complete and file the Annual Financial Statements and
the lifting of the cease trade order. The Company has also assumed
that no significant events occur outside of the Company's normal
course of business. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty
therein.
SOURCE AZN Capital Corp.
