MONTREAL, Aug. 27, 2021 (Globalrelease Wire) — D-BOX Technologies Inc. (“D-BOX” or the “Corporation”) (TSX: DBO) is providing an update with respect to its previously announced management cease trade order (“MCTO”) issued by the Corporation’s principal regulator, the Autorité des marchés financiers (the “AMF”), on August 12, 2021. The MCTO was issued in connection with the delay by the Corporation in the filing of its unaudited and condensed interim consolidated financial statements, its management’s discussion and analysis for the quarter ended June 30, 2021 and related officer certifications (collectively the “Required Documents”) before the prescribed deadline of August 14, 2021.The Corporation’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents as soon as they are available, but in any event no later than September 16, 2021. As previously announced, pursuant to the MCTO, the CEO, the CFO and all the directors of the Corporation may not trade in securities of the Corporation until such time as the Corporation files the Required Documents and the AMF revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.
The Corporation is providing this bi-weekly default status report in accordance with Policy Statement 12-203 Respecting Management Cease Trade Orders (“PS 12-203”). Until such time as the Corporation files the Required Documents and the MCTO has been revoked, the Corporation intends to follow the provisions of the Alternative Information Guidelines set out in PS 12-203, including the issuance of bi-weekly default status reports in the form of news releases.
Pursuant to the provisions of the alternative information guidelines specified in PS 12-203, the Corporation confirms that, as of the date of this news release, (a) there have been no material changes to the information contained in the default announcement issued on July 28, 2021 (the “Default Announcement”) that would reasonably be expected to be material to an investor; (b) there have been no failures by the Corporation to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under PS 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.
D-BOX creates and redefines realistic, immersive entertainment experiences by moving the body and sparking the imagination through effects: motion, vibration and texture. D-BOX has collaborated with some of the best companies in the world to deliver new ways to enhance great stories. Whether it’s movies, video games, music, relaxation, virtual reality applications, themed entertainment or professional simulation, D-BOX creates a feeling of presence that makes life resonate like never before. D-BOX Technologies Inc. (TSX: DBO) is headquartered in Montreal with offices in Los Angeles, USA and Beijing, China. Visit D-BOX.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|D-BOX TECHNOLOGIES INC.|
Vice President, Marketing and Communication
450-442-3003, ext. 373
Chief Financial Officer
450-442-3003, ext. 296
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain information included in this press release may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the timing, review, completion and filing of the Required Documents, and duration of the MCTO; the future plans, activities, objectives, operations, strategy, business outlook, and financial performance and condition of the Corporation, or the assumptions underlying any of the foregoing. In this press release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information, by its very nature, is subject to numerous risks and uncertainties and is based on several assumptions which give rise to the possibility that actual results could differ materially from the Corporation’s expectations expressed in or implied by such forward-looking information and no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including but not limited to the future plans, activities, objectives, operations, strategy, business outlook and financial performance and condition of the Corporation.
Forward-looking information is provided in this press release for the purpose of giving information about Management’s current expectations and plans and allowing investors and others to get a better understanding of the Corporation’s operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose.
Forward-looking information provided in this press release is based on information available at the date hereof and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control.