TORONTO, June 28,
2024 /CNW/ - ApartmentLove Inc. (CSE: APLV)
("ApartmentLove" or the "Company") is providing this bi-weekly
update on the status of the management cease trade order issued on
May 9, 2024 (the "MCTO"), by its
principal regulator, the Alberta Securities Commission, under
National Policy 12-203 - Management Cease Trade
Orders ("NP 12-203"), after the Company's previous
announcement on May 1, 2024 (the
"Default Announcement"), that it expected to be unable to file its
audited annual financial statements for the year
ended December 31, 2023 and associated management's
discussion and analysis and certifications, along with its annual
information financial form for the year ended December 31,
2023 (collectively, the "Annual Filings").
The MCTO restricts the Company's Chief Executive Officer and
Chief Financial Officer from trading in the Company's securities
but does not affect the ability of other shareholders, including
the public, to trade in securities of the Company.
As a result of the delay in filing the Annual Filings, the
Company was unable to file its interim financial statements for the
three months ended March 31, 2024,
and associated management's discussion and analysis and
certifications (collectively, the "Interim Filings") by the filing
deadline of May 30, 2024.
The Company continues to work diligently with its auditor and
newly engaged third party subject matter experts to complete the
Annual Filings as soon as possible, however, due to the ongoing
discussions between the Company's auditor and the third party
subject matter experts, the Company now anticipates filing the
Annual Filings on or before July 15,
2024 and filing the Interim Filings on or before
July 17, 2024.
Except as herein disclosed, there are no material changes to the
information contained in the Default Announcement or the Company's
subsequent press releases on May 17,
2024, May 31, 2024 and
June 18, 2024 with respect to the
issuance of the MCTO. In addition: (i) the Company is satisfying
and confirms that it intends to continue to satisfy the provisions
of the alternative information guidelines under NP 12-203 and issue
bi-weekly default status reports for so long as the delay in filing
the Annual Filings is continuing, each of which will be issued in
the form of a press release; (ii) the Company does not have any
information at this time regarding any anticipated specified
default subsequent to the default in filing the Annual Filings;
(iii) the Company is not subject to any insolvency proceedings; and
(iv) there is no material information concerning the affairs of the
Company that has not been generally disclosed.
For more information visit ApartmentLove's website at
https://apartmentlove.com/investors, ApartmentLove's profile on
SEDAR+ at www.sedarplus.com, or contact:
Trevor Davidson
President & CEO
ApartmentLove
Inc.
tdavidson@apartmentlove.com
(647) 272-9702
Disclaimer and Reader Advisory
The Canadian Securities Exchange does not accept
responsibility for the adequacy or accuracy of this news release.
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties, certain of which are beyond the
control of the Company. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
These statements are only predictions. Readers are cautioned that
the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. Forward looking statements
include, but are not limited to, the statements regarding the
timing, review, completion and filing of the Annual Filings and
Interim Filings, and duration of the MCTO. The Company assumes no
obligation to update forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required by applicable law.
Factors that could cause actual results to differ materially
from those described in such forward-looking statements include,
but are not limited to: the Company may not complete its audit and
file the Annual Filings as currently anticipated, or at all; the
Company will be subject to a general cease trade order in the event
that the Annual Filings are not completed and filed; and other
related risks as more fully set out in the Company's
continuous disclosure documents which have been filed on SEDAR+ and
can be accessed at www.sedarplus.com. Because of the risks,
uncertainties, and assumptions contained herein, investors should
not place any undue reliance on forward-looking statements. The
foregoing statements expressly qualify any forward-looking
statements contained herein.
ApartmentLove® | the feeling of home
SOURCE ApartmentLove Inc.