CALGARY, Alberta, April 30, 2019 (GLOBE NEWSWIRE) -- Helix Applications Inc. (TSX-V: HELX) (the “Company” or “Helix”) announces that it does not anticipate being in a position to file its audited annual financial statements (the “Statements”), management’s discussion and analysis and related certifications for the fiscal year ended December 31, 2018 (the “Required Records”) on or before April 30, 2019, as required, due to this being the (i) first annual financial statements for the Company following its recent “Change of Business” transaction to a technology issuer on the TSX Venture Exchange, and (ii) the first financial statements prepared for the Company by its new auditors KPMG LLP, and additional time is required to complete the review and procedures by the Company’s auditors.
Accordingly, the Company has requested and received the issuance of a management cease trade order under the provisions of National Policy 12-203 Management Cease Trade Orders (“NP 12-203”) so as to permit the continued trading in the Company’s common shares by persons other than the Company’s Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities. The British Columbia Securities Commission has granted Helix sixty-three days from April 30, 2019 to file the Required Records and no later than July 2, 2019.
The Company confirms that it intends to satisfy the provisions of section 10 of NP 12-203 and issue bi-weekly default status reports for so long as the Company remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Company to remedy the default; particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of the Company requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed.
The Company is not subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Company that has not been generally disclosed.
Helix is a blockchain application and technologies developer, listed on the TSX Venture Exchange (TSX Venture: HELX). On October 26, 2018, Helix completed a “Change of Business” transaction to become a technology company and undertake its current business. Additional in-formation about Helix and its “Change of Business” transaction is available on SEDAR at www.sedar.com under Helix’s profile.
For further information please contact Helix at:
Tom Thompson, CEO
c/o 82 Richmond Street East, Suite 200, Toronto, ON, M5C 1P1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the filing of the Required Records and the timing thereof. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.