Cordy Oilfield Services Inc.: Corporate Update
May 28 2020 - 6:29PM
Cordy Oilfield Services Inc. (“
Cordy” or the
“
Company”) (TSX VENTURE: CKK) announces that due
to the continuing logistics and delays caused by the COVID-19
virus, it will also rely on the exemption provided in Alberta
Instrument 51-517 - Temporary Exemption from Certain Corporate
Finance Requirements (the “Alberta Instrument”) of the Alberta
Securities Commission (and similar exemptions provided by the
securities commissions in British Columbia and Saskatchewan), to
postpone the filing of the following continuous disclosure
documents (collectively, the “Interim Documents”):
- the Company’s unaudited financial statements for the interim
period ended March 31, 2020, as required by section 4.4 of
National Instrument 51-102 - Continuous Disclosure Obligations
(“NI 51-102”); and
- the Company’s Management’s discussion and analysis for the
interim period ended March 31, 2020, as required by section
5.1(2) of NI 51-102.
The Company expects to file the Interim
Documents no later than July 14, 2020.
Until the Company has filed the required Interim
Documents, members of the Company’s management and other insiders
are subject to an insider trading black-out period reflecting the
principles contained in section 9 of National Policy 11-207 –
Failure to File Cease Trade Orders and Revocations in Multiple
Jurisdictions.
The Company confirms that, other than as set out
herein, there have been no material undisclosed business
developments since the issuance, on April 16, 2020, of the
Company’s news release regarding the release of its 2019 annual
results.
The Company also announces that it has commenced
legal proceedings in the Court of Queen’s Bench of Alberta against
a former employee for, among other matters, breach of his
non-competition and non-solicitation agreement with the
Company.
Additional information regarding Cordy is
available on our website www.cordy.ca or on SEDAR at
www.sedar.com.
For further information,
please contact: Darrick Evong Chief Executive
Officer IR@cordy.ca Phone: (403) 262-7667 |
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.
Forward-Looking
Information:
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. All statements, other than statements of historical
fact, included herein are forward-looking information. In
particular, this news release contains forward-looking information
regarding the timing for the filing of the Interim Documents. There
can be no assurance that such forward-looking information will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such forward-looking
information. This forward-looking information reflects Cordy’s
current beliefs and is based on information currently available to
Cordy and on assumptions Cordy believes are reasonable. These
assumptions include, but are not limited to: the ability of Cordy
to complete the Interim Documents in the noted timeframe.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Cordy to be
materially different from those expressed or implied by such
forward-looking information. A description of risk factors that
may cause actual results to differ materially from forward-looking
information can be found in Cordy’s disclosure documents on the
SEDAR website at www.sedar.com. Although Cordy has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. Readers are cautioned
that the foregoing list of factors is not exhaustive. Readers are
further cautioned not to place undue reliance on forward-looking
information as there can be no assurance that the plans,
intentions or expectations upon which they are placed will occur.
Forward-looking information contained in this news release is
expressly qualified by this cautionary statement. The
forward-looking information contained in this news release
represents the expectations of Cordy as of the date of this news
release and, accordingly, is subject to change after such date.
However, Cordy expressly disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities law.
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