SEPROTECH CONFIRMS DELAY IN REPORTING OF 2010 ANNUAL FINANCIAL RESULTS
December 17 2010 - 3:45PM
PR Newswire (Canada)
OTTAWA, Dec. 17 /CNW/ -- OTTAWA, Dec. 17 /CNW/ - Seprotech Systems
Incorporated (TSX-V: SET; "Seprotech" or the "Company") confirms
that, as expected and disclosed in the Company's press release
dated December 9, 2010, the Company will not be able to file its
audited financial statements for the year ended August 31, 2010 and
related MD&A and CEO and CFO certificates by December 29, 2010
as required under securities laws. The Company is continuing to
work with its auditors to complete its audited financial statements
and MD&A for the fiscal year ended August 31, 2010 and has
targeted completion by January 26, 2011. The Company confirms that
it intends to satisfy the provisions of the alternative information
guidelines found in sections 4.3 and 4.4 of National Policy 12-203
for so long as it is delayed in filing the annual financial
statements and related MD&A and CFO certificates. During
the period of delay, the Company will issue bi-weekly status
reports in the form of further press releases, which will also be
filed on the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com. In view of this delay in filing, the
Company has applied to the applicable Canadian securities
regulatory authorities for a management cease trade order
precluding the Company's directors and officers from trading in the
Company's securities. There can be no certainty that such an
order will be granted. The applicable regulatory authorities
may instead issue cease trade orders against the Company for
failure to file its annual financial statements and related
MD&A and CEO and CFO certificates within the prescribed time
period. About Seprotech Seprotech is a provider of pre-engineered
water and wastewater treatment plants to the land development,
resource sector and military market place, including CrystalBlueâ„¢
membrane-based water recycling systems and the ROTORDISK®
wastewater treatment systems. The TSX Venture Exchange has neither
approved nor disapproved of the information contained herein. Some
of the statements in this press release, including those relating
to the Company's strategies and other statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "expects", "anticipates",
"intends", "plans", "believes", "estimates" or similar expressions,
are forward-looking statements within the meaning of securities
laws. Forward-looking statements include, without limitation, the
information concerning possible or assumed future results of
operations of the Company. These statements are not historical
facts but instead represent only the Company's expectations,
estimates and projections regarding future events. The Company does
not undertake any obligation to update or release any revisions to
these forward-looking statements to reflect events or circumstances
after the date of this presentation or to reflect the occurrence of
unanticipated events, except as required by law. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/17/c6420.html
p align="justify"Mr. Matthew Anderson Investor Relationsbr/ Tel:
(613) 523-1641br/ Fax: (613) 731-0851/p
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