TSXV: DUG │OTCQX: DSTFF
TORONTO, May 5, 2018 /CNW/ - Distinct Infrastructure Group
Inc. ("Distinct" or the "Company") would like to provide an update
with respect to the filing of its audited annual financial
statements for the year ending December 31,
2017 (the "Statements"). A cease trade order ("CTO") was
issued against the Company by the Ontario Securities Commission for
failure to file the Statements. The Company is working with its
auditors, MNP LLP, who have been the Company's auditors since the
Company went public, to file the Statements as quickly as possible.
The CTO will be revoked, without any action on the part of the
Company, upon the filing of the Statements.
The delay in filing the Statements is due to the growth in the
Company's business, the successful integration of Crown Utilities
Ltd., which the Company acquired in November
2017 and the desire to ensure a smooth transition to IFRS
15, which came into effect for the 2018 fiscal year.
About Distinct Infrastructure Group:
Distinct Infrastructure Group Inc. is a turnkey solutions firm
providing design, engineering, construction and maintenance
services to telecommunication firms, utilities and government
bodies. Distinct's full service suite of offerings includes
underground construction, aerial construction, inventory
management, and technical services including fibre to the building
and home. The Company's head offices are located in Toronto, Ontario, with additional offices in
Edmonton, Alberta.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward Looking Statements
This news release contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "anticipated", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Inspiration is subject
to significant risks and uncertainties which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward looking statements contained in this
release. Inspiration cannot assure investors that actual results
will be consistent with these forward looking statements and
Inspiration assumes no obligation to update or revise the forward
looking statements contained in this release to reflect actual
events or new circumstances.
SOURCE Distinct Infrastructure Group Inc.