DUSOLO PROVIDES UPDATE ON STATUS OF 2016 ANNUAL FINANCIAL STATEMENT FILING
February 27, 2017 – VANCOUVER, BRITISH COLUMBIA: DuSolo Fertilizers Inc. (TSX-V:DSF) (“DuSolo” or “the Company”) provides the following update on the preparation of its 2016 audited financial statements and other annual filings:
As indicated in its January 30, 2017 news release, on January 30, 2017 DuSolo was required to file:
- Audited annual financial statements for the year ended September 30, 2016 as required by Part 4 of National Instrument 51-102 Continuous Disclosure Obligations;
- Management’s discussion and analysis relating to the audited annual financial statements, as required by Part 5 of National Instrument 51-102 Continuous Disclosure Obligations; and
- CEO and CFO certificates relating to the audited annual financial statements, as required by National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “required filings”).
DuSolo continues to work with its new auditors towards the completion of the required filings. The Company previously anticipated that it would be in a position to file the required filings by February 28, 2017. The Company’s current estimate is that the required filings will be made on or before March 3, 2017.
Dusolo applied to the securities commissions of the provinces in which it is a reporting issuer and has been granted a management cease trade order for the duration of the default. Until the required filings are made and the management cease trade order is lifted, Dusolo will satisfy the requirements of the alternative information guidelines set out in National Policy 12-203 Management Cease Trade Orders (the “MCTO Policy”) which require Dusolo to issue bi-weekly news releases to keep the market continuously informed of any developments during the period of the default.
On behalf of DuSolo Fertilizers Inc.
Giles Baynham, Chief Executive Officer
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Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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