/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES./
VANCOUVER, BC, May 4, 2021 /CNW/ - H-Source Holdings Ltd.
(the "Company") (TSXV: HSI) (OTCQB: HSCHF) wishes to
announce that its annual financial statements for the year ended
December 31, 2020, including the
related management discussion and analysis, and CEO and CFO
certifications (collectively, the "2020 Annual Financial
Filings") were not filed by the required filing deadline of
April 30, 2021.
The Annual Financial Filings were not filed on or before the
Filing Deadline due to unforeseen impacts arising from the COVID-19
pandemic which have continued to delay the audit of the Company's
annual financial statements.
The Company is working on the audit procedures required to
complete the 2020 Annual Financial Filings and expects to be able
to file the 2020 Annual Financial Filings on or before July 2, 2021. The Company will provide updates as
further information relating to the 2020 Annual Financial Filings
becomes available.
The Company has applied to the applicable securities regulatory
authorities and received a management cease trade order related to
the Company's securities to be imposed against the Chief Executive
Officer and Chief Financial Officer of the Company to trade
securities of the Company. The management cease trade order will be
in effect until the 2020 Annual Financial Filings are filed, and
requires that the 2020 Annual Financial Filings be filed on or
before July 2, 2021.
Until the 2020 Annual Financial Filings are filed, the Company
intends to provide information in accordance with National Policy
12-203 Management Cease Trade Orders.
Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking Statement Advisory: This release may contain
forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance, or achievements of the
Company to be materially different from any future results,
performance, or achievements expressed or implied by the
forward-looking statements. Forward looking statements or
information relates to, among other things, the timing for
preparation and filing of the 2020 Annual Financial Filings, and
the timing and duration of the management cease trade order under
National Policy 12-203. These forward-looking statements are based
on management's current expectations and beliefs but given the
uncertainties, assumptions and risks, readers are cautioned not to
place undue reliance on such forward-looking statements or
information. The Company disclaims any obligation to update, or to
publicly announce, any such statements, events or developments
except as required by law.
SOURCE H-Source Holdings Ltd.
