OTTAWA, June 06, 2018 (GLOBE NEWSWIRE) -- RED PINE CAMP INC. (“ Red Pine Camp ” or the “ Corporation ”) would like to announce that the independent auditor’s report dated March 24, 2018 (the “ Initial Audit Report ”) which accompanied the Corporation’s financial statements for the year ended December 31, 2017 and contained a modified audit opinion has been reissued by the Corporation’s auditor with an unmodified audit opinion.
The Initial Audit Report included a modified audit opinion due to a scope limitation related to the auditor’s inability to verify the completeness of certain of the Corporation’s donation revenue. Subsequent to the release of the Initial Audit Report the Corporation’s auditor was able to perform additional audit procedures which have enabled it to accumulate sufficient and appropriate audit evidence related to the completeness of the donation revenue. As a result of these additional procedures the Corporation’s auditor has issued a revised audit report with an unmodified audit opinion on the December 31, 2017 financial statements of the Corporation. A copy of the financial statements of the Corporation for the year ended December 31, 2017 with the revised audit report containing an unmodified audit opinion can be accessed through SEDAR at: https://www.sedar.com.
The refiling of the Corporation's financial statements for the year ended December 31, 2017 is the result of a review of the Corporation’s continuous disclosure by OSC staff and a subsequent request from OSC staff that the Corporation's disclosure be corrected in accordance with applicable securities laws. As a result of the filing of this disclosure the Corporation will be placed on the public list of Refiling and Errors in accordance with OSC Staff Notice 51-711 (Revised) (https://www.osc.gov.on.ca/documents/en/Securities-Category5/sn_20180308_51-711_revised-refilings-corrections.pdf).
For further information contact:
Christine Brown
Business Manager and Corporate Secretary
RED PINE CAMP INC.
(613) 828-0700
christinebrown@redpinecamp.org
