Just Energy Announces Fourth Quarter Fiscal 2022 Results to be Issued on or before July 29, 2022
June 30 2022 - 7:30AM
Just Energy Group Inc. (“
Just Energy” or the
“
Company”) (NEX:JE.H; OTC:JENGQ), a retail energy
provider specializing in electricity and natural gas commodities
and bringing energy efficient solutions and renewable energy
options to customers, announced today that it has filed a
notification of late filing on Form 12b-25 with the United States
Securities and Exchange Commission in connection with its annual
report, including the annual audited financial statements and
management discussion and analysis, for the year ended March 31,
2022 (the “
Annual Filings”). The Company
anticipates that it will file the Annual Filings on or before July
29, 2022. The Company is unable to file its Annual Filings within
the prescribed time period under US securities laws without
unreasonable effort or expense because the Company needs additional
time to complete its financial statements and related disclosures
due to the Company’s ongoing financial restructuring process. A
copy of the Company’s Form 12b-25 filing in relation to the Annual
Filings is available on the SEDAR website at www.sedar.com and on
the U.S. Securities and Exchange Commission’s website at
www.sec.gov.
As previously reported, FTI Consulting Canada
Inc. (the “Monitor”) is overseeing the Company's
Companies’ Creditors Arrangement Act (Canada)
(“CCAA”) proceedings as the court-appointed
Monitor. Further information regarding the CCAA proceedings is
available at the Monitor’s website at
http://cfcanada.fticonsulting.com/justenergy. Information regarding
the CCAA proceedings can also be obtained by calling the Monitor’s
hotline at 416-649-8127 or 1-844-669-6340 or by email at
justenergy@fticonsulting.com.
About Just Energy Group
Inc.
Just Energy is a retail energy provider
specializing in electricity and natural gas commodities and
bringing energy efficient solutions, carbon offsets and renewable
energy options to customers. Currently operating in the United
States and Canada, Just Energy serves residential and commercial
customers. Just Energy is the parent company of Amigo Energy,
Filter Group, Hudson Energy, Interactive Energy Group, Tara Energy,
and Terrapass. Visit https://investors.justenergy.com/ to
learn more.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking
statements, including, without limitation, statements with respect
to the timing of the release of the Annual Filings. These
statements are based on current expectations that involve several
risks and uncertainties which could cause actual results to differ
from those anticipated. These risks include, but are not limited
to, risks with respect to the ability of the Company to continue as
a going concern; the outcome of proceedings under the CCAA, the
outcome of any potential litigation with respect to the February
2021 extreme weather event in Texas, the outcome of any invoice
dispute with the Electric Reliability Council of Texas; the
Company’s discussions with key stakeholders regarding the CCAA
proceedings, a restructuring and the outcome thereof; the impact of
the evolving COVID-19 pandemic on the Company’s business,
operations and sales; uncertainties relating to the ultimate
spread, severity and duration of COVID-19 and related adverse
effects on the economies and financial markets of countries in
which the Company operates; the ability of the Company to
successfully implement its business continuity plans with respect
to the COVID-19 pandemic; the Company’s ability to access
sufficient capital to provide liquidity to manage its cash flow
requirements; general economic, business and market conditions; the
ability of management to execute its business plan; levels of
customer natural gas and electricity consumption; extreme weather
conditions; rates of customer additions and renewals; customer
credit risk; rates of customer attrition; fluctuations in natural
gas and electricity prices; interest and exchange rates; actions
taken by governmental authorities including energy marketing
regulation; increases in taxes and changes in government
regulations and incentive programs; changes in regulatory regimes;
results of litigation and decisions by regulatory authorities;
competition; and dependence on certain suppliers. Additional
information on these and other factors that could affect Just
Energy’s operations or financial results are included in Just
Energy’s annual information form and other reports on file with
Canadian securities regulatory authorities which can be accessed
through the SEDAR website at www.sedar.com and on the U.S.
Securities and Exchange Commission’s website at www.sec.gov or
through Just Energy’s website at investors.justenergy.com.
FOR FURTHER INFORMATION PLEASE
CONTACT: InvestorsMichael
CummingsAlpha IRPhone: (617) 982-0475 JE@alpha-ir.com
Michael CarterJust Energy, Chief Financial
OfficerPhone: 905-670-4440pr@justenergy.com
Court-appointed MonitorFTI
Consulting Canada Inc.Phone: 416-649-8127 or
1-844-669-6340justenergy@fticonsulting.com
MediaBoyd ErmanLongview
CommunicationsPhone: 416-523-5885berman@longviewcomms.ca
Source: Just Energy Group
Inc
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