MONTREAL, Feb. 29, 2016 /CNW Telbec/
- (TSXV:SDW): Sofame Technologies Inc. is disclosing
developments in accordance with Policy 12-203 - Cease Trade Orders
for Continuous Disclosure Defaults. The Company's new
auditors, MNP LLC, are currently completing the audit of statements
for the year ending September 30,
2014. The audit of the 2015 statements will continue into
March and April.
Sofame's Board has called the Annual General and Special Meeting
of Shareholders to be held at 1:00 pm
in Pointe Claire, Quebec, on
May 18, 2016.
In light of the progress the company has made in meeting its
disclosure obligations, the TSX Venture Exchange has granted more
time to complete the audits and filings of annual and quarterly
financial and management reports.
The Board is planning to bring Sofame's shares back to active
trading on the TSX Venture exchange prior to reviewing a takeover
offer from a firm with similar operations based in the United States. A precondition to
presentation of the offer, is conversion of Sofame's trade debts to
shares of Sofame. These negotiations are starting in March,
and will be subject to final approval by the TSXV.
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.