MONTREAL, Jan. 28, 2015 /CNW Telbec/ - Sofame Technologies
Inc. (TSXV:SDW) announced today that its audited annual financial
statements, management discussion and analysis ("MD&A") and CEO
and CFO certifications for the year ended September 30, 2014 will not be released as
scheduled on January 28, 2015.
The company's operations are ongoing, with a major new contract
for a mega hospital in final negotiation. The financial audit
took longer than expected, which has caused delays in the
production of the financial statements. Sofame has the
necessary financial and human resources to address the default in a
timely manner and expects to release these documents no later than
February 12, 2015.
As a result of the delay, SOFAME will be requesting that the
Autorité des marches financiers and other Canadian securities
regulatory authorities issue a temporary order that prohibits
certain directors, officers and insiders of SOFAME from trading in
securities of SOFAME for as long as the annual financial
statements, MD&A and related certifications are not filed. The
issuance of such management cease-trade order does not generally
affect the ability of persons who have not been directors, officers
or insiders to trade in their securities.
SOFAME intends to provide information in accordance with Policy
12-203 – Cease Trade Orders for Continuous Disclosure Defaults with
respect to further developments on this matter promptly following
their occurrence, including the issuance of bi-weekly status update
reports until such time as the annual disclosure documentation is
issued and filed.
Neither 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.
SOURCE Sofame Technologies Inc.