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Verisante Technology, Inc. (VRS)
Exchange: TSX Venture Exchange
$0.410
May 18, 2013, 10:37 PM EDT
Change: 0.03 (6.49%)
Volume: 121,510

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Allen-Vanguard Corporation (TSX:VRS) - Default Status Report - Update

Reference is made to the Notice of Default dated December 29, 2005.

OTTAWA, Jan. 13 /CNW Telbec/ - Allen-Vanguard Corporation wishes to
update its shareholders and other stakeholders in compliance with its
obligations to the Ontario Securities Commission ("OSC") under OSC Policy   
57-603.
As a result of Allen-Vanguard Corporation failing to file its annual
audited financial statements and related management discussion and analysis
and annual information form for the year ended September 30, 2005 in a timely
manner, the OSC issued a temporary management cease trade order ("MCTO") on
January 4, 2006 pursuant to OSC Policy 57-603. An MCTO is part of a voluntary
process whereby specific insiders and management of Allen-Vanguard Corporation
are subject to a cease trade order that prohibits them from trading in
securities of Allen-Vanguard Corporation. The MCTO will continue to be in
effect until such time as the financial statements are filed.
Allen-Vanguard Corporation hereby discloses that there are no material
changes in the information contained in the Notice of Default, it has not
failed to fulfill its stated intentions in the Notice of Default, there are no
defaults or anticipated defaults on the financial statement filing requirement
subsequent to that disclosed in the Notice of Default, and there is no other
material information concerning the affairs of Allen-Vanguard Corporation that
has not been generally disclosed (however, as contemplated in its press
release disseminated on December 29, 2005, Allen-Vanguard Corporation expects
in the coming weeks to disclose more detailed information in respect of the
licensing and joint development agreement referred to in that press release).
Allen-Vanguard Corporation is currently working with its auditors to
complete the audit of the financial statements and expects to file its audited
annual financial statements and related forms for the year ended September 30,
2005 by the end of January 2006.

About Allen-Vanguard

Allen-Vanguard Corporation and its subsidiaries worldwide operate under
the brand "Allen-Vanguard". The Company develops and markets technologies,
tools and training for defeating and minimizing the effects of hazardous
devices and materials, whether Chemical, Biological, Radiological, Nuclear or
Explosive (CBRNE). The Company's equipment is in service with leading security
and military forces in more than 120 countries. This includes a complete range
of remote intervention robots for hazardous applications, vehicle barrier
systems, suspect package containers and Electronic Counter-Measures (ECM)
equipment. The Company is a world leader in the development, manufacturer and
sale of specialty security equipment for Explosive Ordnance Disposal (EOD),
and is the sole, worldwide licensee and/or developer of patented technologies
such as the Universal Containment System and CASCAD Foam for blast mitigation,
decontamination of bio-chemical warfare agents, and personal protective gear.
Head office operations are located in Ottawa, Ontario, Canada, with
manufacturing operations in Ottawa and Stoney Creek, Ontario; Tewkesbury,
U.K.; and Cork, Ireland, and sales offices in Canada, the U.S., the U.K. and
Asia. The Company's shares are listed on The Toronto Stock Exchange
(TSX: VRS). The web site is www.allen-vanguard.com.

This press release may contain forward-looking statements relating to,
among other things, the Company's expectations concerning future product
demand and growth opportunities and customer acceptance of Company's products.
These forward-looking statements are neither promises nor guarantees, but
involve risks and uncertainties that may cause actual results to differ
materially from those in the forward-looking statements. The Company disclaims
any obligation to publicly update or revise any such statements. The Toronto
Stock Exchange has neither approved nor disapproved the contents of this press
release.

To find out more about Allen-Vanguard (TSX: VRS), visit our website at
www.allen-vanguard.com.
%SEDAR: 00018026E

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