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
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.
Seprotech is a provider of pre-engineered water and wastewater treatment
plants to the land development, resource sector and military market
place, including CrystalBlue™ 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.
SOURCE BluMetric Environmental Inc.
For further information: For further information:
Mr. Matthew Anderson Investor Relations
Tel: (613) 523-1641
Fax: (613) 731-0851