BluMetric Advises Imposition of Management Cease Trade Order
OTTAWA, Jan. 30, 2014 /CNW/ - BluMetric Environmental Inc. (TSX-V: BLM), an Ottawa-based cleantech company, advised on January 28, 2014 that it would not be able to file its audited financial statements for the thirteen months ended September 30, 2013 and related MD&A and CEO and CFO certificates by January 28, 2014, as required under securities laws.
The Company applied for, and on January 30, 2014 received from its principal regulator, the Ontario Securities Commission, a temporary Management Cease Trade Order (the "MCTO") under Part 4 of National Policy 12-203. By virtue of the MCTO, and until the required filings are complete, neither of the Co-CEOs nor the CFO is permitted, directly or indirectly, to trade in or acquire securities of the Company for a period of 15 days from the date of MCTO or any extension of the MCTO.
The Company anticipates completing its annual filings during the week of February 3, 2014.
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BluMetric, a cleantech company, delivers sustainable solutions to complex environmental issues. The Company serves clients in many industrial sectors, and at all levels of government, in Canada and abroad.
BluMetric operates through two divisions:
- Professional Services, providing environmental earth sciences and engineering solutions, including contaminated site remediation, water resource management, industrial hygiene, occupational health & safety, and renewable energy. This division also operates under the names "WESA" and "Envir-Eau"
- Water, focussed on design-build and pre-engineered product solutions to industrial/commercial water and wastewater treatment needs. This division also operates under the names "WESAtech" and "Seprotech".
More information can be obtained at www.blumetric.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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.
SOURCE BluMetric Environmental Inc.For further information:
Ian W. Malone
Tel: (613) 839-4028 x121
Robin M. Sundstrom
IRonside Investor Relations
Tel: (647) 822- 8111