TSX Venture: FWK
TORONTO, Nov. 8, 2013 /CNW/ - Liuyang Fireworks Limited (TSXV: FWK) ("Liuyang" or the "Company") announces that the TSX Venture Exchange (the "Exchange") has suspended trading in the Company's securities as a result of a Cease Trade Order ("CTO") issued by the British Columbia Securities Commission due to the Company's failure to file its audited annual financial statements for the year ended June 30, 2013 (the "Annual Financial Statements") and its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "2013 Annual Filings") by the prescribed filing deadline under applicable Canadian securities laws.
The Company's auditors are currently in the process of auditing the Annual Financial Statements and the Company is working diligently to facilitate this process. The Company anticipates that it will file the 2013 Annual Filings on or before November 15, 2013.
Reinstatement of trading can occur only when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements.
About Liuyang Fireworks Limited
Liuyang Fireworks Limited is a China-based manufacturer of fireworks. The Company's products are sold both domestically in China as well as exported to more than 15 countries in North America, South America and Europe. The Company has more than 17 years of experience in the fireworks industry and is a supplier to the world's top five fireworks wholesalers and retailers. Liuyang's ISO9001-certified manufacturing facilities are located in the Liuyang area of Hunan, China.
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.
Certain information regarding the Company set forth in this news release, including the filing of the Company's 2013 Annual Filings may constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties. The forward-looking statements contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities legislation.
SOURCE: Liuyang Fireworks Limited
For further information:
Chief Financial Officer
Liuyang Fireworks Limited
Tel : 647 350 8818