Glorious Creation Announces Late Filing of Annual Financial Statements and MCTO
GLORIOUS CREATION LIMITED
Suite 405 – 1328 West Pender Street Vancouver, BC V6E 4T1
NEWS RELEASE
Glorious Creation Limited Announces Late Filing of Annual Financial Statements and Management Cease Trade Order
Vancouver, BC, Canada, May 1, 2019 – Glorious Creation Limited (CSE: GCIT) (the “Company”) announces that its annual financial statements, the related management’s discussion and analysis and the related officer certifications for the financial year ended December 31, 2018 (collectively, the “Annual Filings”) will be delayed beyond the filing deadline of April 30, 2019. The Company’s application for a management cease trade order (the “MCTO”) has been approved and the MCTO has been issued effective May 1, 2019.
The reason for the default in filing the Annual Filings prior to the required deadline is that the Company had insufficient funds to commence the audit in time to meet the filing deadline. The Company has obtained a loan sufficient to pay, among other items, the cost of this audit and the audit has now been commenced. It is anticipated that the audit will be completed and the Annual Filings filed on SEDAR before the end of May, 2019. Although the Company cannot be certain of timing there is reason to be confident in the audit being completed in this time frame. The Company will ensure it updates shareholders of the status of this default on a bi-weekly basis as required by the provisions granting the MCTO.
A blackout period will be in effect, until the required records are filed and the MCTO is revoked.
For further information, please contact:
Glorious Creation Limited
Yuk Kan Kong – CEO & Director Tel: (852) 31880677 Email: [email protected]
The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.
Forward Looking Statements: All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this news release contains forward-looking information regarding the timing of completing and filing of the Annual Filings. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.