Electric-Spin Announces Delay in Filing Annual Financial Statements and MD&A
TSX-V: ESC
The delay has arisen due to Electric-Spin's inability at this time due to economic reasons to meet its financial obligations to its auditors in performing the audit of its financial statements for the fiscal year ended
The Company will apply to the applicable securities commissions or regulators for a management cease trade order related to the Company's common shares to be imposed against some or all of the persons who have been directors, officers or insiders of the Company instead of a cease trade order being imposed against all securities of the Company. Such an order would not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the securities of the Company. If the annual audited consolidated financial statements and related MD&A are not filed by
Electric-Spin is making every effort to raise sufficient funds by way of the sale of its products and raising capital through private placement to pay its auditors and to then have its audited financial statements for the fiscal year ended
Electric~Spin Corporation, the subsidiary of Electric-Spin Ltd. (TSX-v: ESC) is the leader in home golf simulators marketed under its Golf Launchpad brand. Electric~Spin designs and develops its golf simulators, accessories and software at its headquarters in Woodbridge, Ontario.
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For further information: For media inquiries, please contact Alnoor Ebrahim at Electric~Spin at (416) 410-1166 ext. 403. For more information, please visit www.electricspin.com
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