16:45:18 EDT Sun 09 Aug 2020
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Agrios Global Holdings Ltd
Symbol AGRO
Shares Issued 92,898,747
Close 2020-07-09 C$ 0.065
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Agrios delays filing 2019 year-end, Q1 2020 financials

2020-07-10 10:13 ET - News Release

Mr. Chris Kennedy reports

AGRIOS GLOBAL HOLDINGS LTD. ANNOUNCES DELAY OF ANNUAL FINANCIAL FILINGS AND INTERIM FINANCIAL FILINGS

Agrios Global Holdings Ltd. intends to delay its annual financial filings, due July 29, 2020, and its interim financial statement for Q1 2020 due Aug. 31, 2020.

As a result of the logistics and delays caused by the COVID-19 pandemic, Agrios Global Holdings, in consultation with its auditors, will delay the audited financial statements and management discussion and analysis for the period ended March 31, 2020.

Agrios will rely on the recent general blanket order published by the British Columbia Securities Commission and conditions under Section 51-517 to postpone the filing of its annual financial statements and accompanying management's discussion and analysis for the fiscal year ended March 31, 2020, and the interim financial statements and accompanying management's discussion and analysis for the three months ended June 30, 2020.

In response to the COVID-19 pandemic, the BCSC and other securities regulatory authorities in Canada have granted co-ordinated blanket exemptions, allowing issuers an additional 45-day period to complete their regulatory filings.

The company will be relying on the temporary exemption in respect of the following filing requirements:

  • The requirement to file audited financial statements for the year ended March 31, 2020, within 120 days of the company's fiscal year-end, as required under continuous disclosure obligations;
  • The requirement to file interim financial statements for the three-month period ended June 30, 2020, within 60 days of the company's first quarter, as required under the policy;
  • The requirement to file management's discussion and analysis for the period covered by the annual financial statements within 120 days of the company's fiscal year-end, as required by the policy;
  • The requirement to file management's discussion and analysis for the period covered by the interim financial statements within 60 days of the company's first quarter as required by the policy.

Agrios currently anticipates being able to complete and file its annual filings, originally due on July 29, 2020, on or before Sept. 14, 2020, and its interim filings originally due Aug. 30, 2020, on or by Oct. 7, 2020.

Effective immediately, the management and insiders of Agrios are subject to a trading blackout as per Section 9 of National Policy 11-207. The blackout period will remain in place until Agrios submits its annual financial filings and interim financial filings.

Agrios confirms that there have been no material business developments, other than as disclosed through news releases, since March 31, 2020.

We seek Safe Harbor.

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