VANCOUVER, British Columbia, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Amcomri Entertainment Inc. (“ Amcomri ” or the “ Company ”) (Cboe CA: AMEN) (Frankfurt: 25YO) (OTC: AMNNF) announces a delay in the filing of the Company’s unaudited interim financial statements, management’s discussion & analysis and related officer certificates for the three months ended June 30, 2024 (the “ Interim Filings ”).
As a result of the delay, the Company expects to be noted in default by applicable securities regulatory authorities in Canada and that the British Columbia Securities Commission, as principal regulator, will issue a 'failure-to-file' cease trade order (" CTO ") in accordance with the principles and guidance set out in National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions of the Canadian Securities Administrators. The CTO is expected to prohibit any trading in securities of the Company for so long as it remains in effect, in all Canadian jurisdictions in which the Company is a reporting issuer as well as certain other Canadian jurisdictions based on the provisions of local securities legislation and is anticipated to remain in effect until after the Interim Filings have been filed. The CTO is also expected to result in a suspension of the Company's shares from trading on the Cboe Canada (" Cboe "), which will continue until the CTO is revoked and all Cboe requirements are satisfied.
The Company intends to provide updates if and when necessary in accordance with applicable securities laws.
About Amcomri Entertainment Inc.
Amcomri Entertainment Inc. (Cboe CA: AMEN) (Frankfurt: 25Y0) provides global distribution capabilities for independent movie, documentary and TV series producers as well as for its own in-house productions. With decades of experience across all key media platforms, Amcomri is rapidly becoming the go-to team for independent producers seeking the broadest possible audience for their productions. The Amcomri Entertainment Inc. group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Amcomri Productions, Appreciated Media Global, Amcomri Productions and Abacus Media Rights.
For further information about Amcomri, see its disclosure documents on SEDAR+ at www.sedarplus.ca or visit the company’s website at https://amcomrientertainmentinc.com/ .
For more information please contact:
Larry Howard Amcomri, Chief Financial Officer Email: larry.howard@amcomri.com Phone: +353-87-686-8255
CAUTIONARY STATEMENT REGARDING FORWARD ‐ LOOKING INFORMATION:
This news release includes “forward-looking information” and “forward-looking statements” as such terms are defined under applicable Canadian securities legislation. Forward‐looking information and statements include disclosure regarding possible events that are based on assumptions about future economic conditions and courses of action, and, in certain cases, can be identified by the use of words such as “potential”, “propose”, “aim”, “depend”, “seeks”, “plans”, “expects”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “can”, “could”, “should”, “shall”, “would”, “might” or “will”, or the negative forms of any of these words and other similar expressions. Forward-looking statements in this news release include statements related to the anticipated delay in, and expected timing of, the completion and filing of the Interim Filings, management’s ability to have the CTO revoked and any action by any regulator (including the Cboe), together with any other outcomes, results or consequences of the CTO. Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, matters concerning the filing of the Interim Filings and actions taken by any regulator in connection therewith and with the CTO. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐looking information. All forward-looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.com. The Company disclaims any intention or obligation to update or revise such forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.
Investors are cautioned that, trading in the securities of the Company should be considered highly speculative. For a more detailed discussion of such risks and uncertainties, please see the section entitled “Risk Factors” in the Company’s annual information form dated June 2, 2024 and available under the Company’s profile on SEDAR+ at http://www.sedarplus.com/ .
