Glorious Creation Limited Provides Default Status Report
Suite 405 – 1328 West Pender Street Vancouver, BC V6E 4T1
NEWS RELEASE
Glorious Creation Limited Provides Default Status Report
Vancouver, BC, Canada, May 15, 2019 – Glorious Creation Limited (CSE: GCIT) (the “Company”) hereby provides a status update to the management cease trade order (the “MCTO”) issued by the British Columbia Securities Commission on May 1, 2019. On May 1, 2019, the Company announced 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.
As previously reported, the reason for the default in filing the Annual Filings prior to the required deadline is that the Company had insufficient funds to pay for such audit, but has since obtained a loan sufficient to pay, among other items, the cost of this audit. The audit has been commenced and 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 confirms that for as long as the MCTO is in effect, it intends to satisfy the provisions of the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders by providing updates of the status of this default on a bi-weekly basis by way of a news release and material change report.
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.